Insider Selling: Royal Bank of Canada (TSE:RY) Insider Sells C$13,386,333.70 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 45,670 shares of Royal Bank of Canada stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of C$293.11, for a total value of C$13,386,333.70. Following the completion of the sale, the insider directly owned 235 shares of the company’s stock, valued at approximately C$68,880.85. This represents a 99.49% decrease in their position.

Bruce Washington Ross also recently made the following trade(s):

• On Monday, June 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$284.86, for a total value of C$1,041,733.02.
• On Friday, June 12th, Bruce Washington Ross sold 41,724 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$279.37, for a total value of C$11,656,433.88.
• On Friday, June 5th, Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$270.88, for a total value of C$10,491,182.40.
• On Friday, May 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$261.83, for a total value of C$957,512.31.
• On Wednesday, April 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$242.82, for a total value of C$887,992.74.

Royal Bank of Canada Price Performance

RY opened at C$290.38 on Friday. Royal Bank of Canada has a 12 month low of C$175.50 and a 12 month high of C$296.91. The business has a 50-day moving average of C$266.16 and a two-hundred day moving average of C$243.47. The stock has a market capitalization of C$403.53 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. The business had revenue of C$17.45 billion for the quarter. Equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 24th will be given a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 2.4%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 41.35%.

Analysts Set New Price Targets

RY has been the topic of a number of research analyst reports. Scotiabank lifted their price target on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a “sector outperform” rating in a report on Tuesday, June 16th. Barclays upped their price objective on Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. TD increased their target price on Royal Bank of Canada from C$267.00 to C$272.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Jefferies Financial Group lifted their target price on Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. Finally, Desjardins boosted their price target on Royal Bank of Canada from C$262.00 to C$275.00 and gave the company a “buy” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$260.81.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.