Royal Bank of Canada (TSE:RY) Insider Sells C$106,597.98 in Stock

Key Points

• Insider sale: Royal Bank of Canada insider Jennifer Kristine Publicover sold 439 shares on April 22 at an average of C$242.82 for a total of C$106,597.98, leaving her with 152 shares — a 74.28% reduction in ownership.
• Dividend notice: The bank declared a quarterly dividend of $1.64 per share payable May 22 (ex-dividend April 23), equal to a $6.56 annualized payout and a 2.7% yield.
• Analyst view: MarketBeat shows a consensus rating of "Moderate Buy" with a C$244.58 price target, supported largely by Buy/Outperform recommendations from recent broker reports.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY insider Jennifer Kristine Publicover sold 439 shares of the company's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total value of C$106,597.98. Following the sale, the insider owned 152 shares in the company, valued at approximately C$36,908.64. This represents a 74.28% decrease in their ownership of the stock.

Royal Bank of Canada Price Performance

Shares of RY traded up C$0.62 during midday trading on Friday, hitting C$240.18. 2,478,811 shares of the company traded hands, compared to its average volume of 3,718,561. The stock has a 50-day moving average of C$229.99 and a 200-day moving average of C$224.00. Royal Bank of Canada has a one year low of C$161.82 and a one 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 PEG ratio of 3.42 and a beta of 1.07.

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

Royal Bank of Canada Dividend Announcement

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

Analyst Ratings Changes

RY has been the subject of several recent analyst reports. TD Securities cut their price objective on 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. Scotiabank boosted their price objective on 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. Desjardins upped their target price on Royal Bank of Canada from C$247.00 to C$250.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Canaccord Genuity Group upped their target price on Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Finally, Jefferies Financial Group upped their target price on Royal Bank of Canada from C$217.00 to C$220.00 in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of "Moderate Buy" and a consensus price target of C$244.58.

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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