Insider Selling: Royal Bank of Canada (TSE:RY) Insider Sells 1,463 Shares

Key Points

• Royal Bank of Canada insider Graeme Ashley Hepworth sold 1,463 shares on July 22 at an average price of C$297.19, for total proceeds of about C$434,789.
• The insider has made similar sales in recent months, including 1,463 shares sold on both June 22 and May 22 at lower prices, indicating a pattern of repeated selling.
• RBC recently raised its quarterly dividend to C$1.76 per share from C$1.64, and analysts currently rate the stock a Moderate Buy with a consensus price target of C$262.96.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY insider Graeme Ashley Hepworth sold 1,463 shares of the business's stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of C$297.19, for a total transaction of C$434,788.97.

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

• 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 transaction of C$416,750.18.
• On Friday, May 22nd, Graeme Ashley Hepworth sold 1,463 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$261.83, for a total transaction of C$383,057.29.

Royal Bank of Canada Price Performance

TSE RY traded up C$0.68 on Friday, hitting C$294.35. 1,124,933 shares of the stock were exchanged, compared to its average volume of 3,589,400. The company's 50-day moving average price is C$281.00 and its two-hundred day moving average price is C$249.98. Royal Bank of Canada has a 52-week low of C$175.50 and a 52-week high of C$306.38. The company has a market capitalization of C$409.05 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 3.42 and a beta of 1.05.

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 (EPS) for the quarter. The company had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%. Equities analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 24th will be given a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change 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%. Royal Bank of Canada's payout ratio is presently 41.35%.

Analyst Ratings Changes

Several research firms have weighed in on RY. Jefferies Financial Group lifted their target price on Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. Barclays increased their price target on shares of Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. National Bank Financial raised their price target on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an "outperform" rating in a report on Friday, May 15th. Raymond James Financial boosted their price objective on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a "market perform" rating in a research report on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$262.96.

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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