Key Points
- Royal Bank of Canada insider Jennifer Kristine Publicover sold 439 shares on May 22 at an average price of C$261.83, totaling C$114,943.37. After the sale, she directly owned 152 shares, a 74.28% reduction in her holdings.
- RY shares were trading near their 52-week high, opening at C$264.15 and coming within range of the C$265.10 high. The stock was also up 0.8% on the day.
- Analysts remain moderately bullish on Royal Bank of Canada, with a consensus rating of “Moderate Buy” and a consensus target price of C$253.19. The company also recently paid a quarterly dividend of C$1.64 per share, or C$6.56 annualized, yielding 2.5%.
Royal Bank of Canada (TSE:RY - Get Free Report) (NYSE:RY) insider Jennifer Kristine Publicover sold 439 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total value of C$114,943.37. Following the completion of the transaction, the insider directly owned 152 shares in the company, valued at C$39,798.16. The trade was a 74.28% decrease in their ownership of the stock.
Jennifer Kristine Publicover also recently made the following trade(s):
- On Wednesday, April 22nd, Jennifer Kristine Publicover sold 439 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$242.82, for a total value of C$106,597.98.
Royal Bank of Canada Stock Up 0.8%
Shares of RY stock opened at C$264.15 on Tuesday. Royal Bank of Canada has a 12 month low of C$171.29 and a 12 month high of C$265.10. The company has a market cap of C$367.31 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 3.42 and a beta of 1.14. The business's 50 day moving average is C$238.13 and its two-hundred day moving average is C$230.57.
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 for the quarter. The business had revenue of C$17.96 billion during the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. As a group, equities analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.
Royal Bank of Canada Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Thursday, April 23rd. Royal Bank of Canada's dividend payout ratio is 42.58%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on RY. Canadian Imperial Bank of Commerce boosted their price objective on Royal Bank of Canada from C$242.00 to C$258.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Raymond James Financial downgraded Royal Bank of Canada from a "moderate buy" rating to a "hold" rating and lifted their price target for the stock from C$248.00 to C$265.50 in a research report on Tuesday, May 12th. Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$260.00 to C$270.00 and gave the stock a "buy" rating in a report on Wednesday, May 20th. Jefferies Financial Group increased their price objective on Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. Finally, Desjardins raised their price objective on shares of Royal Bank of Canada from C$250.00 to C$262.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$253.19.
Check Out Our Latest Report on Royal Bank of Canada
About Royal Bank of Canada
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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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