Jennifer Kristine Publicover Sells 401 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Jennifer Kristine Publicover sold 401 shares of Royal Bank of Canada stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of C$160.27, for a total value of C$64,266.71. Following the completion of the sale, the insider now directly owns 152 shares of the company’s stock, valued at C$24,360.45. The trade was a 72.51 % decrease in their position.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at C$163.04 on Friday. The stock has a fifty day simple moving average of C$162.97 and a two-hundred day simple moving average of C$169.57. The firm has a market capitalization of C$230.70 billion, a PE ratio of 14.21, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52-week low of C$131.57 and a 52-week high of C$180.45.

Royal Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 23rd will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 49.49%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. National Bankshares cut their price target on Royal Bank of Canada from C$190.00 to C$179.00 and set an “outperform” rating for the company in a research note on Monday, April 7th. Scotiabank cut their target price on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. CIBC raised shares of Royal Bank of Canada from a “neutral” rating to an “outperform” rating and upped their target price for the company from C$167.00 to C$168.00 in a report on Friday, April 4th. Cormark dropped their price target on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research note on Friday, February 28th. Finally, Jefferies Financial Group reduced their price objective on Royal Bank of Canada from C$195.00 to C$180.00 in a research note on Monday. One analyst has rated the stock with a hold rating, six have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of “Buy” and an average price target of C$180.00.

About Royal Bank of Canada

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.