Royal Bank of Canada (TSE:RY) Insider Sells C$887,992.74 in Stock

Key Points

• Insider sale: Director Bruce Washington Ross sold 3,657 shares on April 22 at C$242.82 for C$887,992.74, cutting his direct holding by 93.96% to 235 shares.
• Dividend announced: RBC declared a quarterly dividend of C$1.64 (annualized C$6.56) payable May 22, with an ex-dividend date of April 23, implying a yield of about 2.7%.
• Market and analyst view: RY trades near C$240.18 (market cap C$333.97B, P/E 16.5) and carries an average analyst rating of "Moderate Buy" with a C$244.58 average price target.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY insider Bruce Washington Ross sold 3,657 shares of the company's stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total transaction of C$887,992.74. Following the completion of the sale, the insider directly owned 235 shares of the company's stock, valued at C$57,062.70. The trade was a 93.96% decrease in their ownership of the stock.

Royal Bank of Canada Stock Up 0.3%

RY stock traded up C$0.62 during trading on Friday, reaching C$240.18. The stock had a trading volume of 2,478,811 shares, compared to its average volume of 3,718,561. Royal Bank of Canada has a one year low of C$161.82 and a one year high of C$246.72. The company's 50 day moving average is C$229.99 and its two-hundred day moving average is C$224.00. The company has a market capitalization of C$333.97 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 3.42 and a beta of 1.07.

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

Royal Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, April 23rd. Royal Bank of Canada's payout ratio is presently 42.58%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RY shares. Raymond James Financial boosted their target price on shares of Royal Bank of Canada from C$255.00 to C$260.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Jefferies Financial Group boosted their target price on shares of Royal Bank of Canada from C$217.00 to C$220.00 in a research note on Wednesday, February 11th. Canaccord Genuity Group boosted their target price on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a "buy" rating in a research note on Thursday, February 12th. TD Securities dropped their target price on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of Royal Bank of Canada from C$229.00 to C$242.00 and gave the company a "neutral" rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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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