Royal Bank of Canada (TSE:RY) Insider Maria Elena Douvas Sells 9,604 Shares of Stock

Key Points

• Insider selling: Maria Elena Douvas sold 9,604 Royal Bank of Canada shares for C$2.64 million, following two additional sales totaling approximately C$4.82 million on the same day.
• Stock performance and valuation: RY traded at C$278.82, with a market capitalization of about C$386 billion, a P/E ratio of 17.58, and a 52-week range of C$200.82 to C$306.38.
• Analyst outlook and dividend: Analysts maintain a “Moderate Buy” consensus with an average price target of C$292.86. The bank raised its quarterly dividend to $1.76 per share, representing a 2.5% yield.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY insider Maria Elena Douvas sold 9,604 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of C$275.20, for a total value of C$2,643,020.80.

Maria Elena Douvas also recently made the following trade(s):

• On Thursday, October 1st, Maria Elena Douvas sold 8,482 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$274.70, for a total value of C$2,330,005.40.
• On Thursday, October 1st, Maria Elena Douvas sold 9,066 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$275.02, for a total transaction of C$2,493,331.32.

Royal Bank of Canada Stock Performance

RY traded up C$0.96 during trading on Friday, reaching C$278.82. 732,446 shares of the company's stock were exchanged, compared to its average volume of 3,420,169. The company's fifty day moving average price is C$288.98 and its 200-day moving average price is C$270.30. The firm has a market capitalization of C$386.01 billion, a PE ratio of 17.58, a P/E/G ratio of 3.42 and a beta of 0.94. Royal Bank of Canada has a fifty-two week low of C$200.82 and a fifty-two week high of C$306.38.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last released its quarterly earnings data on Thursday, August 27th. The financial services provider reported C$4.28 EPS for the quarter. The business had revenue of C$18.54 billion during the quarter. Royal Bank of Canada had a return on equity of 16.11% and a net margin of 15.92%. Research analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm 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 represents a $7.04 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, July 27th. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.64. Royal Bank of Canada's dividend payout ratio (DPR) is 41.49%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Desjardins set a C$320.00 price target on shares of Royal Bank of Canada and gave the company a "buy" rating in a report on Wednesday, September 2nd. TD cut their price target on Royal Bank of Canada from C$307.00 to C$306.00 and set a "buy" rating on the stock in a report on Friday, August 28th. Barclays increased their price objective on Royal Bank of Canada from C$260.00 to C$300.00 in a report on Friday, August 21st. National Bank Financial upped their price target on Royal Bank of Canada from C$318.00 to C$321.00 and gave the stock an "outperform" rating in a research report on Sunday, August 30th. Finally, Scotia lifted their price objective on shares of Royal Bank of Canada from C$311.00 to C$312.00 and gave the company a "sector outperform" rating in a report on Friday, August 28th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has an average rating of "Moderate Buy" and an average price target of C$292.86.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.