Key Points
- Insider selling: Royal Bank of Canada insider Bruce Washington Ross sold 45,670 shares on June 30 at an average price of C$293.11, worth about C$13.39 million. His direct ownership fell to just 235 shares, a 99.49% decrease.
- Recent selling trend: Ross has been a frequent seller in recent weeks, including multiple transactions in June and April totaling tens of thousands of shares. The pattern shows a continued reduction in his stake in the bank.
- Business and shareholder updates: RBC reported C$3.90 EPS in its latest quarter and raised its quarterly dividend to C$1.76 per share, implying a 2.4% yield. Analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of C$260.81.
Royal Bank of Canada (TSE:RY - Get Free Report) (NYSE:RY) insider Bruce Washington Ross sold 45,670 shares of Royal Bank of Canada stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of C$293.11, for a total value of C$13,386,333.70. Following the transaction, the insider directly owned 235 shares in the company, valued at approximately C$68,880.85. The trade was a 99.49% decrease in their ownership of the stock.
Bruce Washington Ross also recently made the following trade(s):
- On Monday, June 22nd, Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock. The stock was 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 stock was 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.
- 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 transaction of C$887,992.74.
Royal Bank of Canada Price Performance
RY opened at C$290.43 on Friday. The company has a 50 day simple moving average of C$265.18 and a two-hundred day simple moving average of C$243.14. The firm has a market cap of C$403.60 billion, a P/E ratio of 18.88, a PEG ratio of 3.42 and a beta of 1.08. Royal Bank of Canada has a 1-year low of C$175.50 and a 1-year high of C$296.91.
Royal Bank of Canada (TSE:RY - Get Free Report) (NYSE:RY) last released 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 net margin of 18.40% and a return on equity of 15.95%. The company had revenue of C$17.45 billion for the quarter. Equities analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.
Royal Bank of Canada Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 24th will be given a dividend of $1.76 per share. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, July 27th. Royal Bank of Canada's dividend payout ratio (DPR) is 41.35%.
Wall Street Analysts Forecast Growth
RY has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce boosted their price target on Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Raymond James Financial increased their price objective on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a "market perform" rating in a report on Friday, May 29th. Jefferies Financial Group lifted their price objective on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. Scotiabank boosted their target price on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a "sector outperform" rating in a report on Tuesday, June 16th. Finally, Desjardins upped their target price on shares of Royal Bank of Canada from C$262.00 to C$275.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$260.81.
View Our Latest 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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