Royal Bank of Canada (TSE:RY) Senior Officer Sells C$1,721,604.71 in Stock

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) Senior Officer Bruce Washington Ross sold 12,170 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of C$141.46, for a total transaction of C$1,721,604.71. Following the completion of the transaction, the insider now owns 235 shares of the company’s stock, valued at approximately C$33,243.81.

Royal Bank of Canada Price Performance

RY stock traded down C$0.14 during midday trading on Tuesday, reaching C$142.14. 1,989,638 shares of the company’s stock traded hands, compared to its average volume of 4,943,146. Royal Bank of Canada has a fifty-two week low of C$107.92 and a fifty-two week high of C$149.24. The business has a 50-day moving average price of C$140.69 and a two-hundred day moving average price of C$135.43. The company has a market capitalization of C$200.42 billion, a P/E ratio of 13.28, a PEG ratio of 10.64 and a beta of 0.83.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be given a $1.42 dividend. The ex-dividend date is Thursday, July 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a yield of 4.00%. Royal Bank of Canada’s dividend payout ratio (DPR) is 51.54%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group raised their price target on Royal Bank of Canada from C$159.00 to C$168.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. CIBC raised their target price on shares of Royal Bank of Canada from C$135.00 to C$150.00 and gave the company a “neutral” rating in a report on Friday, May 31st. National Bankshares increased their price target on shares of Royal Bank of Canada from C$154.00 to C$161.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Desjardins lifted their price objective on Royal Bank of Canada from C$142.00 to C$156.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, BMO Capital Markets cut Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, May 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$144.50.

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Royal Bank of Canada Company Profile

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Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

Further Reading

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