Key Points
- Royal Bank of Canada director David Ian Mckay sold 133,130 shares on June 23 for about C$38.2 million, leaving him with 5,873 shares and cutting his stake by 95.77%.
- Mckay also sold additional blocks of RBC shares in recent months, including sales on June 22, May 22, and April 22, each worth roughly C$5.6 million to C$6.6 million.
- The stock was little changed and near its 52-week high, while analysts remain cautiously positive with a Moderate Buy consensus and a price target around C$260.81; RBC also recently reported quarterly EPS of C$3.90 and maintained a 2.3% dividend yield.
Royal Bank of Canada (TSE:RY - Get Free Report) (NYSE:RY) insider Katherine Gibson sold 462 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of C$284.86, for a total value of C$131,605.32. Following the transaction, the insider owned 290 shares in the company, valued at C$82,609.40. The trade was a 61.44% decrease in their position.
Katherine Gibson also recently made the following trade(s):
- On Friday, May 22nd, Katherine Gibson sold 462 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$120,965.46.
- On Wednesday, April 22nd, Katherine Gibson sold 462 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$112,182.84.
Royal Bank of Canada Price Performance
RY opened at C$288.03 on Thursday. Royal Bank of Canada has a 12 month low of C$175.03 and a 12 month high of C$289.82. The stock has a market capitalization of C$400.26 billion, a P/E ratio of 18.73, a P/E/G ratio of 3.42 and a beta of 1.08. The business has a 50 day simple moving average of C$259.39 and a 200-day simple moving average of C$240.44.
Royal Bank of Canada (TSE:RY - Get Free Report) (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. The firm had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%. Research analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current year.
Royal Bank of Canada Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were paid a dividend of $1.64 per share. 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 2.3%. Royal Bank of Canada's dividend payout ratio is 41.35%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on RY shares. Canaccord Genuity Group raised their price objective on shares of Royal Bank of Canada from C$280.00 to C$282.00 and gave the company a "buy" rating in a research note on Friday, June 5th. Barclays upped 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 report on Friday, May 29th. National Bank Financial increased their target price on shares of 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. Canadian Imperial Bank of Commerce lifted their price target on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Finally, TD Securities decreased 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 note on Friday, February 27th. One 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$260.81.
Get Our Latest Stock Analysis on RY
Royal Bank of Canada Company Profile
(
Get Free Report)
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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