Insider Selling: Royal Bank of Canada (TSE:RY) Insider Sells C$1,086,823.83 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock in a transaction dated 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 completion of the transaction, the insider owned 235 shares in the company, valued at C$69,839.65. This trade represents 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 shares were 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 transaction of C$11,656,433.88.
• On Friday, June 5th, Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$270.88, for a total transaction of C$10,491,182.40.
• On Friday, May 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$261.83, for a total transaction of C$957,512.31.

Royal Bank of Canada Price Performance

TSE RY opened at C$295.01 on Monday. The firm has a market cap of C$409.96 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05. The company has a 50 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 52 week low of C$175.50 and a 52 week high of C$306.38.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. The company had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. On average, equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share 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 given a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, July 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.4%. Royal Bank of Canada’s payout ratio is currently 41.35%.

More Royal Bank of Canada News

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 Analyst Weigh In

RY has been the topic of several recent analyst reports. Scotiabank upped their target price on Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a “sector outperform” rating in a research report on Tuesday, June 16th. Barclays boosted their price target on 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. 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 report on Tuesday, July 7th. TD increased their price objective on shares of Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Jefferies Financial Group lifted their target price on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.