Insider Selling: Royal Bank of Canada (TSE:RY) Insider Sells C$434,788.97 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Graeme Ashley Hepworth sold 1,463 shares of the firm’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 value 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 value 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 value of C$383,057.29.

Royal Bank of Canada Stock Performance

TSE RY opened at C$295.01 on Monday. The business has a fifty day moving average price of C$281.85 and a 200 day moving average price of C$250.38. Royal Bank of Canada has a one year low of C$175.50 and a one year high of C$306.38. The company has a market cap of C$409.96 billion, a P/E ratio of 19.18, a P/E/G ratio of 3.42 and a beta of 1.05.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The company had revenue of C$17.45 billion for the quarter. As a group, sell-side 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. Stockholders of record on Monday, August 24th will be paid a $1.76 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank of Canada’s payout ratio is 41.35%.

Key Headlines Impacting Royal Bank of Canada

Here are the key news stories impacting Royal Bank of Canada this week:

• Positive Sentiment: Royal Bank of Canada received a consensus analyst recommendation of “Moderate Buy”, which suggests Wall Street views remain favorable and may be supporting the stock. Royal Bank of Canada (TSE:RY) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Positive Sentiment: The share price crossed above its 200-day moving average, a bullish technical signal that can attract momentum buyers and indicate improving investor confidence. Royal Bank of Canada (TSE:RY) Share Price Crosses Above 200 Day Moving Average – What’s Next?
• Negative Sentiment: Multiple insiders sold shares, including a large sale by Director David Ian McKay and additional sales by Katherine Gibson, Graeme Ashley Hepworth, and Bruce Washington Ross. Insider selling can weigh on sentiment because investors may view it as a sign of caution, even if it is often routine diversification.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RY. Canaccord Genuity Group upped their price objective on shares of Royal Bank of Canada from C$282.00 to C$310.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Barclays raised their target price 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 note on Friday, May 29th. Desjardins boosted their target price on Royal Bank of Canada from C$262.00 to C$275.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Raymond James Financial upped their price target on 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, Scotiabank increased their price target on Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a “sector outperform” rating in a report on Tuesday, June 16th. One 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 a consensus rating of “Moderate Buy” and an average 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.