Royal Bank of Canada (TSE:RY) Senior Officer Sells C$64,266.71 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Jennifer Kristine Publicover sold 401 shares of Royal Bank of Canada stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of C$160.27, for a total transaction of C$64,266.71. Following the sale, the insider now owns 152 shares of the company’s stock, valued at approximately C$24,360.45. This represents a 72.51 % decrease in their ownership of the stock.

Royal Bank of Canada Stock Up 0.2 %

Shares of TSE:RY opened at C$163.30 on Friday. Royal Bank of Canada has a fifty-two week low of C$132.88 and a fifty-two week high of C$180.45. The firm’s 50 day moving average price is C$162.81 and its 200 day moving average price is C$169.53. The stock has a market cap of C$231.07 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 23rd will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $5.92 annualized dividend and a dividend yield of 3.63%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.49%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Scotiabank dropped their target price on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. TD Securities dropped their price objective on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating for the company in a research note on Friday, February 28th. CIBC raised Royal Bank of Canada from a “neutral” rating to an “outperform” rating and increased their target price for the stock from C$167.00 to C$168.00 in a research note on Friday, April 4th. UBS Group lifted their target price on Royal Bank of Canada from C$192.00 to C$198.00 in a research report on Friday, March 7th. Finally, Jefferies Financial Group reduced their price target on shares of Royal Bank of Canada from C$195.00 to C$180.00 in a research report on Monday, April 21st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$180.00.

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.