Royal Bank of Canada (TSE:RY) Insider Bruce Washington Ross Sells 3,659 Shares of Stock

Key Points

• Insider Bruce Washington Ross sold 3,659 Royal Bank of Canada shares at an average price of C$279.97, generating proceeds of about C$1.02 million. He retained just 235 shares, a 93.97% reduction in his ownership.
• Ross has made several large sales in recent months, including transactions totaling more than C$13.4 million in June and another sale worth approximately C$1.09 million in July.
• Royal Bank of Canada shares recently traded at C$287.68, while the bank increased its quarterly dividend to $1.76 per share. Analysts maintain a “Moderate Buy” consensus with an average price target of C$286.07.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY insider Bruce Washington Ross sold 3,659 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of C$279.97, for a total value of C$1,024,410.23. Following the transaction, the insider owned 235 shares of the company's stock, valued at approximately C$65,792.95. The trade was a 93.97% decrease in their ownership of the stock.

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

• On Wednesday, July 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$297.19, for a total value of C$1,086,823.83.
• On Tuesday, June 30th, Bruce Washington Ross sold 45,670 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$293.11, for a total transaction of C$13,386,333.70.
• On Monday, June 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$284.86, for a total transaction 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 transaction of C$11,656,433.88.
• On Friday, June 5th, Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$270.88, for a total transaction of C$10,491,182.40.

Royal Bank of Canada Stock Up 0.4%

TSE RY traded up C$1.05 on Wednesday, hitting C$287.68. The stock had a trading volume of 613,303 shares, compared to its average volume of 3,521,313. Royal Bank of Canada has a one year low of C$195.86 and a one year high of C$306.38. The stock has a market cap of C$399.78 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 3.42 and a beta of 1.05. The company's 50-day moving average is C$293.42 and its two-hundred day moving average is C$259.79.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. The company had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%. On average, sell-side 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 firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 24th were paid a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, July 27th. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.64. Royal Bank of Canada's dividend payout ratio (DPR) is presently 41.35%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group increased their price target on Royal Bank of Canada from C$240.00 to C$268.00 in a research note on Thursday, August 13th. TD upped their price objective on shares of Royal Bank of Canada from C$272.00 to C$307.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Raymond James Financial increased their target price on shares of Royal Bank of Canada from C$270.50 to C$306.00 and gave the company a "market perform" rating in a research report on Wednesday, August 12th. Desjardins raised their target price on shares of Royal Bank of Canada from C$275.00 to C$320.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, Canadian Imperial Bank of Commerce boosted their target price on Royal Bank of Canada from C$279.00 to C$311.00 and gave the stock a "neutral" rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$286.07.

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.

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