Key Points
- Insider selling: Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada on June 5 at an average price of C$270.88, worth about C$10.49 million. After the sale, he held just 235 shares, a 99.4% reduction in his position.
- Stock performance and valuation: Royal Bank of Canada shares were trading up 0.8% at C$272.63, near their 52-week high of C$273.64. The stock has a market cap of C$378.87 billion and trades at a P/E ratio of 17.73.
- Fundamentals and outlook: The bank reported quarterly EPS of C$3.90 on revenue of C$17.45 billion, with a return on equity of 15.95% and a dividend yield of 2.4%. Analysts currently rate the stock a Moderate Buy with an average price target of C$260.42.
Royal Bank of Canada (TSE:RY - Get Free Report) (NYSE:RY) insider Bruce Washington Ross sold 38,730 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of C$270.88, for a total value of C$10,491,182.40. Following the completion of the sale, the insider owned 235 shares of the company's stock, valued at approximately C$63,656.80. This represents a 99.40% decrease in their position.
Bruce Washington Ross also recently made the following trade(s):
- On Friday, May 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$261.83, for a total value of C$957,512.31.
- On Wednesday, April 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$242.82, for a total value of C$887,992.74.
Royal Bank of Canada Trading Up 0.8%
Shares of TSE RY opened at C$272.63 on Tuesday. Royal Bank of Canada has a twelve month low of C$173.39 and a twelve month high of C$273.64. The stock has a 50 day moving average of C$246.74 and a two-hundred day moving average of C$234.73. The stock has a market cap of C$378.87 billion, a P/E ratio of 17.73, a P/E/G ratio of 3.42 and a beta of 1.08.
Royal Bank of Canada (TSE:RY - Get Free Report) (NYSE:RY) last issued 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 during the quarter. As a group, research analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.
Royal Bank of Canada Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were issued a $1.64 dividend. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.4%. Royal Bank of Canada's payout ratio is presently 41.35%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on RY shares. Desjardins boosted their target price on Royal Bank of Canada from C$262.00 to C$275.00 and gave the company a "buy" rating in a report on Friday, May 29th. National Bank Financial boosted their target price on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Jefferies Financial Group boosted their target price on Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. TD Securities dropped their target price on Royal Bank of Canada from C$260.00 to C$259.00 and set a "buy" rating on the stock in a report on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce boosted their target price on Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a "neutral" rating in a report on Friday, May 29th. One research 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$260.42.
Get 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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