Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells 20,304 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 20,304 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$161.89, for a total value of C$3,287,014.56.

David Ian Mckay also recently made the following trade(s):

• On Monday, February 24th, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$169.67, for a total transaction of C$3,444,896.43.
• On Wednesday, January 22nd, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock traded up C$1.27 during midday trading on Tuesday, reaching C$167.27. 769,098 shares of the company’s stock traded hands, compared to its average volume of 4,247,553. The company has a market cap of C$236.69 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The company’s 50 day simple moving average is C$169.03 and its 200 day simple moving average is C$170.62. Royal Bank of Canada has a 52 week low of C$131.57 and a 52 week high of C$180.45.

Royal Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 3.54%. Royal Bank of Canada’s dividend payout ratio is presently 49.49%.

Analyst Ratings Changes

RY has been the topic of several research reports. CIBC cut their price objective on Royal Bank of Canada from C$175.00 to C$167.00 in a research report on Wednesday, March 5th. Scotiabank reduced their price objective on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Cormark cut their target price on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research note on Friday, February 28th. Canaccord Genuity Group increased their target price on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Finally, National Bankshares upped their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$181.67.

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.