Katherine Gibson Sells 462 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Katherine Gibson sold 462 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of C$297.19, for a total transaction of C$137,301.78. Following the completion of the transaction, the insider owned 290 shares in the company, valued at approximately C$86,185.10. The trade was a 61.44% decrease in their position.

Katherine Gibson also recently made the following trade(s):

• On Monday, June 22nd, Katherine Gibson sold 462 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$284.86, for a total value of C$131,605.32.
• On Friday, May 22nd, Katherine Gibson sold 462 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$261.83, for a total value of C$120,965.46.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded up C$0.68 during midday trading on Friday, reaching C$294.35. 1,124,933 shares of the company traded hands, compared to its average volume of 3,589,400. Royal Bank of Canada has a 12 month low of C$175.50 and a 12 month high of C$306.38. The firm has a market capitalization of C$409.05 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05. The business has a 50 day moving average of C$281.00 and a two-hundred day moving average of C$249.98.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share (EPS) for the quarter. The business had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%. As a group, equities analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 24th will be paid a $1.76 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 2.4%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 41.35%.

Analyst Ratings Changes

Several brokerages have recently commented on RY. Barclays raised their price objective on shares of Royal Bank of Canada from C$245.00 to C$260.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. TD increased their target price on Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Jefferies Financial Group increased their price target on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. Canaccord Genuity Group lifted their price objective on shares of Royal Bank of Canada from C$282.00 to C$310.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Raymond James Financial upped their target price on Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold 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$262.96.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.