Insider Selling: Royal Bank of Canada (RY) Insider Sells 10,000 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Alex Douglas Mcgregor sold 10,000 shares of Royal Bank of Canada stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of C$103.27, for a total value of C$1,032,700.00.

Alex Douglas Mcgregor also recently made the following trade(s):

  • On Tuesday, August 28th, Alex Douglas Mcgregor sold 20,000 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$104.04, for a total value of C$2,080,800.00.
  • On Monday, June 18th, Alex Douglas Mcgregor sold 10,000 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$100.27, for a total value of C$1,002,700.00.

RY opened at C$103.00 on Friday. Royal Bank of Canada has a fifty-two week low of C$91.79 and a fifty-two week high of C$108.52.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Wednesday, August 22nd. The financial services provider reported C$2.14 earnings per share for the quarter, topping the consensus estimate of C$2.11 by C$0.03. Royal Bank of Canada had a net margin of 26.17% and a return on equity of 16.49%. The firm had revenue of C$11.03 billion for the quarter, compared to analyst estimates of C$10.75 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Thursday, October 25th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Wednesday, October 24th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.94.

Several brokerages have weighed in on RY. BMO Capital Markets boosted their price target on Royal Bank of Canada from C$106.00 to C$110.00 and gave the company a “market perform” rating in a report on Thursday, August 23rd. National Bank Financial boosted their price target on Royal Bank of Canada from C$109.00 to C$111.00 and gave the company an “outperform” rating in a report on Thursday, August 23rd. Scotiabank cut their price target on Royal Bank of Canada from C$112.00 to C$110.00 and set a “sector perform” rating for the company in a report on Friday, May 25th. Eight Capital upped their price objective on Royal Bank of Canada from C$118.00 to C$119.00 in a report on Friday, May 25th. Finally, CIBC upped their price objective on Royal Bank of Canada from C$109.00 to C$110.00 in a report on Thursday, August 23rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Royal Bank of Canada has a consensus rating of “Buy” and a consensus target price of C$111.80.

About Royal Bank of Canada

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

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Insider Buying and Selling by Quarter for Royal Bank of Canada (TSE:RY)

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