Royal Bank of Canada (TSE:RY) Senior Officer Sells C$2,819,840.00 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Bruce Washington Ross sold 20,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the sale, the insider now owns 235 shares of the company’s stock, valued at approximately C$33,133.12.

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

• On Monday, June 17th, Bruce Washington Ross sold 12,170 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$141.46, for a total transaction of C$1,721,604.71.

Royal Bank of Canada Price Performance

RY opened at C$142.03 on Monday. The business has a 50 day moving average price of C$141.04 and a two-hundred day moving average price of C$135.95. The company has a market capitalization of C$200.26 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a 1-year low of C$107.92 and a 1-year high of C$149.24.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share for the quarter, beating the consensus estimate of C$2.77 by C$0.15. The business had revenue of C$14.15 billion during the quarter, compared to analyst estimates of C$13.58 billion. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. Equities analysts expect that Royal Bank of Canada will post 11.1525292 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a $1.42 dividend. The ex-dividend date is Thursday, July 25th. This represents a $5.68 annualized dividend and a dividend yield of 4.00%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.38. Royal Bank of Canada’s payout ratio is currently 51.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Scotiabank raised their target price on shares of Royal Bank of Canada from C$148.00 to C$153.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. CIBC boosted their price objective on Royal Bank of Canada from C$135.00 to C$150.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Jefferies Financial Group raised their target price on Royal Bank of Canada from C$159.00 to C$168.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Argus upgraded shares of Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, June 6th. Finally, TD Securities lifted their price objective on shares of Royal Bank of Canada from C$156.00 to C$160.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of C$144.50.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.