Royal Bank of Canada (TSE:RY) Insider Graeme Ashley Hepworth Sells 1,459 Shares of Stock

Key Points

• Royal Bank of Canada insider Graeme Ashley Hepworth sold 1,459 shares at an average price of C$279.97, generating proceeds of approximately C$408,476. He has also sold roughly 1,463 shares in each of the prior two months.
• RY shares recently traded at C$287.68, with a market capitalization of about C$399.78 billion and a 52-week range of C$195.86 to C$306.38.
• The bank reported C$3.90 in quarterly EPS and C$17.45 billion in revenue, while increasing its quarterly dividend to $1.76 per share. Analysts maintain a consensus “Moderate Buy” rating with an average price target of C$286.07.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY insider Graeme Ashley Hepworth sold 1,459 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of C$279.97, for a total value of C$408,476.23.

Graeme Ashley Hepworth also recently made the following trade(s):

• On Wednesday, July 22nd, Graeme Ashley Hepworth sold 1,463 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$297.19, for a total value of C$434,788.97.
• On Monday, June 22nd, Graeme Ashley Hepworth sold 1,463 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$416,750.18.

Royal Bank of Canada Price Performance

Shares of RY traded up C$1.05 during trading hours on Wednesday, hitting C$287.68. The company's stock had a trading volume of 613,303 shares, compared to its average volume of 3,521,313. Royal Bank of Canada has a 52-week low of C$195.86 and a 52-week high of C$306.38. The company has a market cap of C$399.78 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 3.42 and a beta of 1.05. The business has a 50 day simple moving average of C$293.42 and a two-hundred day simple moving average of C$259.79.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last issued its earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share (EPS) 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. Research analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 24th were paid a dividend of $1.76 per share. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, July 27th. Royal Bank of Canada's dividend payout ratio is presently 41.35%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RY. Barclays upped their price objective on shares of Royal Bank of Canada from C$260.00 to C$300.00 in a research report on Friday, August 21st. Jefferies Financial Group lifted their price target on Royal Bank of Canada from C$240.00 to C$268.00 in a research note on Thursday, August 13th. Desjardins upped their price objective on Royal Bank of Canada from C$275.00 to C$320.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Canadian Imperial Bank of Commerce increased their price objective on Royal Bank of Canada from C$279.00 to C$311.00 and gave the company a "neutral" rating in a research report on Wednesday, August 19th. Finally, Canaccord Genuity Group raised their price objective on Royal Bank of Canada from C$282.00 to C$310.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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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