Royal Bank of Canada (TSE:RY) Director Sells C$3,562,730.70 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 20,304 shares of the 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$3,562,730.70.

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

• On Thursday, May 22nd, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$174.06, for a total transaction of C$3,534,158.91.
• On Tuesday, April 22nd, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$160.27, for a total value of C$3,254,042.89.

Royal Bank of Canada Stock Performance

Shares of TSE RY traded down C$0.52 during midday trading on Monday, reaching C$174.32. 950,332 shares of the company’s stock were exchanged, compared to its average volume of 4,550,086. Royal Bank of Canada has a 52-week low of C$142.46 and a 52-week high of C$180.45. The stock has a market capitalization of C$246.66 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The business’s fifty day moving average price is C$170.30 and its two-hundred day moving average price is C$169.56.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 3.53%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.48. Royal Bank of Canada’s dividend payout ratio (DPR) is 49.49%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RY shares. Cormark dropped their price objective on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. National Bank Financial cut shares of Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 29th. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Scotiabank raised Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, May 15th. Finally, National Bankshares set a C$179.00 price objective on Royal Bank of Canada and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$183.75.

Royal Bank of Canada Company Profile

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.