Insider Selling: Royal Bank of Canada (TSE:RY) Senior Officer Sells C$2,855,150.00 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Senior Officer Douglas Antony Guzman sold 17,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total transaction of C$2,855,150.00. Following the completion of the sale, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,198.75.

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

• On Thursday, September 12th, Douglas Antony Guzman sold 10,000 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$167.91, for a total transaction of C$1,679,100.00.
• On Monday, September 9th, Douglas Antony Guzman sold 10,270 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$166.20, for a total transaction of C$1,706,874.00.
• On Friday, September 6th, Douglas Antony Guzman sold 15,000 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$165.00, for a total value of C$2,475,000.00.
• On Wednesday, September 4th, Douglas Antony Guzman sold 10,000 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$164.60, for a total value of C$1,646,000.00.

Royal Bank of Canada Trading Up 0.0 %

TSE:RY opened at C$167.84 on Monday. Royal Bank of Canada has a 1 year low of C$107.92 and a 1 year high of C$169.04. The stock has a 50-day moving average price of C$157.78 and a two-hundred day moving average price of C$147.07. The stock has a market cap of C$236.65 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 10.64 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. The business had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. Sell-side analysts forecast that Royal Bank of Canada will post 12.7644788 earnings per share for the current year.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is 50.35%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Desjardins raised their price target on Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Canaccord Genuity Group lifted 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. Bank of America boosted 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. UBS Group set a C$165.00 price objective on shares of Royal Bank of Canada and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, CIBC upped their target price on shares of Royal Bank of Canada from C$166.00 to C$167.00 in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Royal Bank of Canada presently has an average rating of “Buy” and a consensus target price of C$163.38.

About Royal Bank of Canada

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.