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

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

Royal Bank of Canada Stock Down 0.4 %

Shares of Royal Bank of Canada stock opened at C$141.76 on Thursday. The stock has a market cap of C$199.88 billion, a P/E ratio of 13.24, a P/E/G ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a 12-month low of C$107.92 and a 12-month high of C$149.24. The business’s 50 day moving average is C$140.82 and its 200-day moving average is C$135.61.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be given a dividend of $1.42 per share. 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 4.01%. The ex-dividend date of this dividend is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio is 51.54%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RY. BMO Capital Markets cut Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. Argus raised shares of Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, June 6th. Canaccord Genuity Group boosted their price objective on shares of Royal Bank of Canada from C$142.00 to C$146.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. TD Securities upped their target price on shares of Royal Bank of Canada from C$156.00 to C$160.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Scotiabank lifted their price target on Royal Bank of Canada from C$148.00 to C$153.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$144.50.

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.