Royal Bank of Canada (TSE:RY) Insider Sells 462 Shares

Key Points

• Insider Katherine Gibson sold 462 Royal Bank of Canada shares for approximately C$129,346 at an average price of C$279.97, reducing her holdings by 61.44% to 290 shares. This follows two similar 462-share sales in June and July.
• Royal Bank of Canada shares rose 0.4% to C$287.68, while the company reported quarterly earnings of C$3.90 per share and revenue of C$17.45 billion. The stock has a market capitalization of about C$399.78 billion.
• The bank increased its quarterly dividend to $1.76 per share, equivalent to a $7.04 annualized payout and a 2.4% yield. 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 Katherine Gibson sold 462 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of C$279.97, for a total value of C$129,346.14. Following the completion of the transaction, the insider owned 290 shares of the company's stock, valued at C$81,191.30. This represents a 61.44% decrease in their ownership of the stock.

Katherine Gibson also recently made the following trade(s):

• On Wednesday, July 22nd, Katherine Gibson sold 462 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$297.19, for a total transaction of C$137,301.78.
• 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 transaction of C$131,605.32.

Royal Bank of Canada Stock Up 0.4%

RY traded up C$1.05 during midday trading on Wednesday, hitting C$287.68. 613,303 shares of the company were exchanged, compared to its average volume of 3,521,313. The firm's 50 day moving average price is C$293.42 and its 200-day moving average price is C$259.79. The firm has a market capitalization of C$399.78 billion, a P/E ratio of 18.70, a P/E/G ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a 1-year low of C$195.86 and a 1-year high of C$306.38.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last released its earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share 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 during the quarter. On average, sell-side analysts predict 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 announced 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 payout ratio is 41.35%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. TD raised their target price on Royal Bank of Canada from C$272.00 to C$307.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Jefferies Financial Group boosted their target price on shares of Royal Bank of Canada from C$240.00 to C$268.00 in a research report on Thursday, August 13th. Raymond James Financial upped their price target on Royal Bank of Canada from C$270.50 to C$306.00 and gave the stock a "market perform" rating in a report on Wednesday, August 12th. Scotiabank increased their price objective 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 note on Tuesday, June 16th. Finally, National Bank Financial set a C$318.00 target price on Royal Bank of Canada and gave the company an "outperform" rating in a research report on Monday. One 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$286.07.

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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