Key Points
- Insider selling: Royal Bank of Canada insider Bruce Washington Ross sold 41,724 shares on June 12 for about C$11.66 million, leaving him with just 235 shares. The trade represented a 99.44% reduction in his position.
- Recent selling trend: Ross has also sold additional RBC shares in several earlier transactions over the past few weeks, including 38,730 shares on June 5 and smaller sales on May 22 and April 22. This suggests a sustained pattern of insider selling.
- Fundamentals and outlook: RBC reported C$3.90 in quarterly EPS on revenue of C$17.45 billion and continues to pay a quarterly dividend of C$1.64 per share. Analysts still view the stock favorably overall, with a consensus Moderate Buy rating and an average target price of C$260.81.
Royal Bank of Canada (TSE:RY - Get Free Report) (NYSE:RY) insider Bruce Washington Ross sold 41,724 shares of Royal Bank of Canada stock in a transaction dated Friday, June 12th. The shares were sold at an average price of C$279.37, for a total value of C$11,656,433.88. Following the completion of the transaction, the insider owned 235 shares of the company's stock, valued at C$65,651.95. The trade was a 99.44% decrease in their position.
Bruce Washington Ross also recently made the following trade(s):
- On Friday, June 5th, Bruce Washington Ross sold 38,730 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$270.88, for a total value of C$10,491,182.40.
- 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 Price Performance
TSE:RY opened at C$281.51 on Wednesday. The firm has a market capitalization of C$391.20 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. The business's fifty day moving average price is C$253.19 and its 200 day moving average price is C$237.55. Royal Bank of Canada has a 12 month low of C$173.56 and a 12 month high of C$282.00.
Royal Bank of Canada (TSE:RY - Get Free Report) (NYSE:RY) last issued its earnings results 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 business had revenue of C$17.45 billion for the quarter. As a group, equities analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current year.
Royal Bank of Canada Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, April 23rd. Royal Bank of Canada's dividend payout ratio (DPR) is 41.35%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on RY shares. Canadian Imperial Bank of Commerce raised their target price on Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. National Bank Financial raised their target price on Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Canaccord Genuity Group lifted their price target on Royal Bank of Canada from C$280.00 to C$282.00 and gave the stock a "buy" rating in a research report on Friday, June 5th. TD Securities cut their price target on Royal Bank of Canada from C$260.00 to C$259.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. Finally, Scotiabank lifted their price target on Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a "sector outperform" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada presently has an average rating of "Moderate Buy" and a consensus target price of C$260.81.
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Royal Bank of Canada Company Profile
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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.
Further Reading
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