Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) insider Katherine Gibson sold 462 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of C$297.19, for a total value of C$137,301.78. Following the transaction, the insider owned 290 shares in the company, valued at C$86,185.10. The trade was a 61.44% decrease in their position.
Katherine Gibson also recently made the following trade(s):
- On Monday, June 22nd, Katherine Gibson sold 462 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$284.86, for a total value of C$131,605.32.
- On Friday, May 22nd, Katherine Gibson sold 462 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$261.83, for a total value of C$120,965.46.
Royal Bank of Canada Price Performance
Royal Bank of Canada stock opened at C$295.01 on Friday. Royal Bank of Canada has a 1-year low of C$175.50 and a 1-year high of C$306.38. The company has a market cap of C$409.96 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05. The stock’s 50 day moving average price is C$281.85 and its 200 day moving average price is C$250.30.
Royal Bank of Canada Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 24th will be paid a dividend of $1.76 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.4%. Royal Bank of Canada’s dividend payout ratio is currently 41.35%.
Key Headlines Impacting Royal Bank of Canada
Here are the key news stories impacting Royal Bank of Canada this week:
- Positive Sentiment: Royal Bank of Canada received a consensus analyst recommendation of “Moderate Buy”, which suggests Wall Street views remain favorable and may be supporting the stock. Royal Bank of Canada (TSE:RY) Receives Consensus Recommendation of “Moderate Buy” from Analysts
- Positive Sentiment: The share price crossed above its 200-day moving average, a bullish technical signal that can attract momentum buyers and indicate improving investor confidence. Royal Bank of Canada (TSE:RY) Share Price Crosses Above 200 Day Moving Average – What’s Next?
- Negative Sentiment: Multiple insiders sold shares, including a large sale by Director David Ian McKay and additional sales by Katherine Gibson, Graeme Ashley Hepworth, and Bruce Washington Ross. Insider selling can weigh on sentiment because investors may view it as a sign of caution, even if it is often routine diversification.
Analyst Ratings Changes
Several analysts recently commented on RY shares. Desjardins raised their price objective on shares of Royal Bank of Canada from C$262.00 to C$275.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Raymond James Financial upped their target price on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the stock a “market perform” rating in a research report on Friday, May 29th. 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 research report on Tuesday, June 16th. Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$282.00 to C$310.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, National Bank Financial upped their price target on Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$262.96.
Get Our Latest Research Report on RY
About Royal Bank of Canada
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.
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