Royal Bank of Canada (TSE:RY) Insider Bruce Washington Ross Sells 3,657 Shares

Key Points

• Insider selling: Royal Bank of Canada insider Bruce Washington Ross sold 3,657 shares on July 22 at an average price of C$297.19, totaling about C$1.09 million. After the sale, he retained just 235 shares, a 93.96% reduction in his position.
• Dividend increase: The bank raised its quarterly dividend to $1.76 per share from $1.64. The new payout implies an annualized dividend of $7.04 and a yield of about 2.4%.
• Mixed but generally positive outlook: Analysts currently rate Royal Bank of Canada as a Moderate Buy, with an average target price of C$262.96. The stock also recently traded near C$294.35, close to its 52-week high of C$306.38.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY insider Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada 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 value of C$1,086,823.83. Following the transaction, the insider directly owned 235 shares in the company, valued at approximately C$69,839.65. The trade was a 93.96% decrease in their position.

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

• 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 shares were sold at an average price of C$279.37, for a total value 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 value of C$10,491,182.40.
• On Friday, May 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$261.83, for a total transaction of C$957,512.31.

Royal Bank of Canada Trading Up 0.2%

Shares of RY stock traded up C$0.68 during trading hours on Friday, hitting C$294.35. 1,124,933 shares of the company were exchanged, compared to its average volume of 3,589,400. The firm has a fifty day simple moving average of C$281.00 and a 200 day simple moving average of 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 stock 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 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 return on equity of 15.95% and a net margin of 18.40%.The firm had revenue of C$17.45 billion for the quarter. Sell-side analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 24th will be issued a $1.76 dividend. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 2.4%. Royal Bank of Canada's payout ratio is 41.35%.

Analyst Ratings Changes

RY has been the topic of a number of analyst reports. Desjardins boosted their target price on shares of Royal Bank of Canada from C$262.00 to C$275.00 and gave the company a "buy" rating in a report on Friday, May 29th. Canadian Imperial Bank of Commerce boosted their price objective on 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. Jefferies Financial Group increased their price objective on Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. TD raised their target price on Royal Bank of Canada from C$267.00 to C$272.00 and gave the stock a "buy" rating in a research note on Friday, May 29th. Finally, Raymond James Financial lifted their target price on Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a "market perform" rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada has an average rating of "Moderate Buy" and an average target price of C$262.96.

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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