Insider Selling: Royal Bank of Canada (TSE:RY) Senior Officer Sells 308 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Graeme Ashley Hepworth sold 308 shares of the business’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of C$175.47, for a total value of C$54,044.58.

Graeme Ashley Hepworth also recently made the following trade(s):

• On Thursday, May 22nd, Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$174.06, for a total transaction of C$53,611.16.

Royal Bank of Canada Stock Performance

Shares of RY traded down C$0.47 during midday trading on Monday, hitting C$174.37. 1,216,157 shares of the company traded hands, compared to its average volume of 4,552,043. The stock has a market cap of C$246.73 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52 week low of C$142.46 and a 52 week high of C$180.45. The firm has a 50 day moving average of C$170.30 and a 200-day moving average of C$169.56.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be given a dividend of $1.54 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.48. This represents a $6.16 dividend on an annualized basis and a dividend yield of 3.53%. Royal Bank of Canada’s dividend payout ratio is currently 49.49%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. UBS Group cut their target price on shares of Royal Bank of Canada from C$198.00 to C$196.00 in a research report on Thursday, May 22nd. Scotiabank upgraded Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, May 15th. National Bankshares set a C$179.00 target price on Royal Bank of Canada and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. 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. Finally, CIBC boosted their target price on shares of Royal Bank of Canada from C$182.00 to C$183.00 and gave the company an “outperform” rating in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$183.75.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.