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 that occurred on Monday, June 22nd. The shares were sold at an average price of C$284.86, for a total value of C$131,605.32. Following the completion of the sale, the insider owned 290 shares of the company’s stock, valued at C$82,609.40. This trade represents a 61.44% decrease in their ownership of the stock.

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

• 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.
• On Wednesday, April 22nd, Katherine Gibson sold 462 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$242.82, for a total value of C$112,182.84.

Royal Bank of Canada Stock Performance

TSE RY opened at C$289.12 on Friday. The stock’s fifty day moving average is C$260.36 and its two-hundred day moving average is C$240.90. The firm has a market capitalization of C$401.78 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. Royal Bank of Canada has a fifty-two week low of C$175.50 and a fifty-two week high of C$290.70.

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

Royal Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 41.35%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RY. Desjardins increased their price target on shares of Royal Bank of Canada from C$262.00 to C$275.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Raymond James Financial lifted their price target on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research report on Friday, May 29th. Scotiabank upped their price objective on Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a “sector outperform” rating in a report on Tuesday, June 16th. Canaccord Genuity Group increased their price objective on Royal Bank of Canada from C$280.00 to C$282.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, National Bank Financial raised their target price on Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$260.81.

About Royal Bank of Canada

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.