Insider Selling: Royal Bank of Canada (TSE:RY) Senior Officer Sells C$7,889,646.16 in Stock

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) Senior Officer Douglas Antony Guzman sold 54,354 shares of Royal Bank of Canada stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total value of C$7,889,646.16. Following the completion of the sale, the insider now owns 25 shares of the company’s stock, valued at C$3,628.83.

Royal Bank of Canada Stock Down 0.4 %

RY stock opened at C$142.87 on Friday. Royal Bank of Canada has a twelve month low of C$107.92 and a twelve month high of C$149.24. The stock has a market cap of C$201.45 billion, a P/E ratio of 13.34, a PEG ratio of 10.64 and a beta of 0.83. The business’s 50-day moving average price is C$140.64 and its 200-day moving average price is C$135.05.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be given a dividend of $1.42 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.38. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Thursday, July 25th. Royal Bank of Canada’s payout ratio is presently 51.54%.

Analysts Set New Price Targets

Several research firms recently commented on RY. Desjardins lifted their price objective on Royal Bank of Canada from C$142.00 to C$156.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$142.00 to C$146.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Jefferies Financial Group boosted their price target on Royal Bank of Canada from C$159.00 to C$168.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. BMO Capital Markets downgraded Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. Finally, Argus upgraded Royal Bank of Canada to a “strong-buy” rating in a research note on Thursday, June 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average price target of C$144.50.

Get Our Latest Analysis on RY

About Royal Bank of Canada

(Get Free Report)

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.

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