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

Key Points

• Insider sale: Katherine Gibson sold 462 Royal Bank of Canada shares on April 22 at C$242.82 for C$112,182.84, cutting her holding by 61.44% to 290 shares valued at C$70,417.80.
• Dividend announced: RBC declared a quarterly dividend of C$1.64 per share (C$6.56 annualized) with an ex-dividend date of April 23 and a payment date of May 22, implying a yield of about 2.7%.
• Market and analyst backdrop: RY traded near C$240.18 (1-year range C$161.82–C$246.72) and carries a consensus "Moderate Buy" rating with an average target of C$244.58 after several brokers raised price targets.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY insider Katherine Gibson sold 462 shares of Royal Bank of Canada stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total transaction of C$112,182.84. Following the sale, the insider directly owned 290 shares in the company, valued at C$70,417.80. This trade represents a 61.44% decrease in their position.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded up C$0.62 during midday trading on Friday, hitting C$240.18. 2,478,811 shares of the stock were exchanged, compared to its average volume of 3,718,561. Royal Bank of Canada has a 1 year low of C$161.82 and a 1 year high of C$246.72. The firm has a market cap of C$333.97 billion, a P/E ratio of 16.50, a P/E/G ratio of 3.42 and a beta of 1.07. The company has a 50 day moving average price of C$229.99 and a two-hundred day moving average price of C$224.00.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last released its quarterly earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. The firm had revenue of C$17.96 billion for the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. As a group, analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank of Canada's dividend payout ratio (DPR) is currently 42.58%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RY. Desjardins raised their price objective on shares of Royal Bank of Canada from C$247.00 to C$250.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Canaccord Genuity Group raised their price objective on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a "buy" rating in a report on Thursday, February 12th. Jefferies Financial Group raised their price objective on shares of Royal Bank of Canada from C$217.00 to C$220.00 in a report on Wednesday, February 11th. Scotiabank raised their price objective on shares of Royal Bank of Canada from C$242.00 to C$247.00 and gave the stock an "outperform" rating in a report on Friday, February 27th. Finally, TD Securities decreased their price target on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a "buy" rating for the company in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$244.58.

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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