Insider Selling: Royal Bank of Canada (TSE:RY) Senior Officer Sells 401 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Jennifer Kristine Publicover sold 401 shares of the firm’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$70,363.23. Following the completion of the transaction, the insider now owns 152 shares in the company, valued at approximately C$26,671.35. This trade represents a 72.51% decrease in their ownership of the stock.

Jennifer Kristine Publicover also recently made the following trade(s):

• On Thursday, May 22nd, Jennifer Kristine Publicover sold 401 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$174.06, for a total value of C$69,798.94.
• On Tuesday, April 22nd, Jennifer Kristine Publicover sold 401 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$160.27, for a total value of C$64,266.71.

Royal Bank of Canada Trading Down 0.2%

TSE RY opened at C$175.72 on Thursday. The stock has a 50-day simple moving average of C$171.21 and a 200 day simple moving average of C$169.56. The company has a market capitalization of C$248.64 billion, a PE ratio of 15.31, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 12 month low of C$143.90 and a 12 month high of C$180.45.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 3.51%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.48. Royal Bank of Canada’s dividend payout ratio is currently 49.49%.

Analyst Ratings Changes

A number of research firms have recently commented on RY. UBS Group dropped their price objective on Royal Bank of Canada from C$198.00 to C$196.00 in a research note on Thursday, May 22nd. Scotiabank raised Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, May 15th. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Jefferies Financial Group lowered their price target on Royal Bank of Canada from C$195.00 to C$180.00 in a report on Monday, April 21st. Finally, National Bankshares set a C$179.00 price target on Royal Bank of Canada and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$184.54.

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.