Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells 133,130 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 133,130 shares of Royal Bank of Canada stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of C$287.21, for a total value of C$38,236,267.30. Following the sale, the director owned 5,873 shares of the company’s stock, valued at approximately C$1,686,784.33. This trade represents a 95.77% decrease in their position.

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

• On Monday, June 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$284.86, for a total transaction of C$6,577,132.54.
• On Friday, May 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$261.83, for a total transaction of C$6,045,392.87.
• On Wednesday, April 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$242.82, for a total transaction of C$5,606,470.98.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded down C$0.52 during mid-day trading on Wednesday, hitting C$287.89. 1,863,272 shares of the company traded hands, compared to its average volume of 3,602,954. Royal Bank of Canada has a one year low of C$175.03 and a one year high of C$289.82. The stock has a market cap of C$400.07 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. The stock has a fifty day moving average price of C$258.41 and a 200-day moving average price of C$239.99.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. The business had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. Sell-side analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were given a $1.64 dividend. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 annualized dividend and a yield of 2.3%. Royal Bank of Canada’s payout ratio is 41.35%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RY. National Bank Financial raised their price target on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Raymond James Financial upped their price objective on Royal Bank of Canada from C$265.50 to C$270.50 and gave the stock a “market perform” rating in a report on Friday, May 29th. TD Securities reduced their price objective on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. TD raised their price objective on Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Jefferies Financial Group boosted their target price on Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$260.81.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.