Bruce Washington Ross Sells 20,000 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Bruce Washington Ross sold 20,000 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the completion of the transaction, the insider now directly owns 235 shares of the company’s stock, valued at C$33,133.12.

Bruce Washington Ross also recently made the following trade(s):

• On Monday, June 17th, Bruce Washington Ross sold 12,170 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$141.46, for a total transaction of C$1,721,604.71.

Royal Bank of Canada Trading Up 0.4 %

TSE RY opened at C$142.03 on Friday. The firm has a market capitalization of C$200.26 billion, a P/E ratio of 13.26, a PEG ratio of 10.64 and a beta of 0.83. The business has a fifty day simple moving average of C$141.04 and a 200 day simple moving average of C$135.86. Royal Bank of Canada has a 12 month low of C$107.92 and a 12 month high of C$149.24.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.77 by C$0.15. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. The firm had revenue of C$14.15 billion during the quarter, compared to analyst estimates of C$13.58 billion. As a group, sell-side analysts predict that Royal Bank of Canada will post 11.1525292 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a dividend of $1.42 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $5.68 annualized dividend and a dividend yield of 4.00%. Royal Bank of Canada’s dividend payout ratio is presently 51.54%.

Wall Street Analyst Weigh In

A number of research firms have commented on RY. Scotiabank lifted their price objective on shares of Royal Bank of Canada from C$148.00 to C$153.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Desjardins lifted their price objective on shares of 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. National Bankshares lifted their price objective on shares of Royal Bank of Canada from C$154.00 to C$161.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. TD Securities lifted their price objective 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 report on Friday, May 31st. Finally, CIBC lifted their price objective on shares of Royal Bank of Canada from C$135.00 to C$150.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.