Insider Selling: Royal Bank of Canada (TSE:RY) Senior Officer Sells C$1,646,000.00 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Douglas Antony Guzman sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the transaction, the insider now owns 25 shares in the company, valued at C$4,115.

Douglas Antony Guzman also recently made the following trade(s):

• On Tuesday, June 11th, Douglas Antony Guzman sold 54,354 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$145.15, for a total value of C$7,889,646.16.

Royal Bank of Canada Trading Down 0.5 %

TSE:RY opened at C$164.10 on Friday. The stock has a market capitalization of C$233.02 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 10.64 and a beta of 0.85. Royal Bank of Canada has a 1 year low of C$107.92 and a 1 year high of C$166.00. The firm has a 50 day moving average of C$152.93 and a 200-day moving average of C$143.53.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, topping the consensus estimate of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.38% and a net margin of 28.37%. The company had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion. As a group, analysts forecast that Royal Bank of Canada will post 12.8601286 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.46%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is presently 50.31%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RY shares. Cormark upped their target price on Royal Bank of Canada from C$166.00 to C$171.00 in a research note on Thursday, August 29th. TD Securities increased their price objective on shares of Royal Bank of Canada from C$171.00 to C$178.00 in a research note on Thursday, August 29th. UBS Group set a C$165.00 target price on shares of Royal Bank of Canada and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Canaccord Genuity Group increased their price target on shares of Royal Bank of Canada from C$159.50 to C$172.00 in a research report on Thursday, August 29th. Finally, Bank of America raised their price target on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research note on Thursday, August 29th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada presently has an average rating of “Buy” and an average price target of C$161.50.

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.