Royal Bank of Canada (TSE:RY) Senior Officer Sells C$1,679,100.00 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Douglas Antony Guzman sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$167.91, for a total value of C$1,679,100.00. Following the completion of the transaction, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,197.75.

Douglas Antony Guzman also recently made the following trade(s):

• On Monday, September 9th, Douglas Antony Guzman sold 10,270 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$166.20, for a total transaction of C$1,706,874.00.
• On Friday, September 6th, Douglas Antony Guzman sold 15,000 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$165.00, for a total transaction of C$2,475,000.00.
• On Wednesday, September 4th, Douglas Antony Guzman sold 10,000 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$164.60, for a total transaction of C$1,646,000.00.

Royal Bank of Canada Price Performance

RY opened at C$168.02 on Monday. The company has a 50 day simple moving average of C$154.87 and a two-hundred day simple moving average of C$144.91. The firm has a market cap of C$236.91 billion, a P/E ratio of 14.88, a PEG ratio of 10.64 and a beta of 0.84. Royal Bank of Canada has a 1-year low of C$107.92 and a 1-year high of C$168.81.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. The company had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion.

Royal Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.31%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RY. National Bankshares raised their price target on Royal Bank of Canada from C$160.00 to C$169.00 in a research note on Thursday, August 29th. Canaccord Genuity Group raised their target price on Royal Bank of Canada from C$159.50 to C$172.00 in a research report on Thursday, August 29th. Jefferies Financial Group reduced their price target on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a research report on Monday, August 12th. BMO Capital Markets raised their price objective on shares of Royal Bank of Canada from C$151.00 to C$165.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, Bank of America boosted their target price on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$163.38.

Royal Bank of Canada Company Profile

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.