Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells 91,288 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 91,288 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of C$228.75, for a total transaction of C$20,882,130.00. Following the completion of the sale, the director directly owned 5,873 shares in the company, valued at approximately C$1,343,448.75. The trade was a 93.96% decrease in their ownership of the stock.

Royal Bank of Canada Trading Up 0.7%

Shares of RY traded up C$1.61 during mid-day trading on Monday, reaching C$229.90. The company’s stock had a trading volume of 1,139,085 shares, compared to its average volume of 4,053,774. Royal Bank of Canada has a 1-year low of C$151.25 and a 1-year high of C$230.99. The business has a 50-day simple moving average of C$210.16 and a two-hundred day simple moving average of C$194.95. The stock has a market cap of C$323.01 billion, a P/E ratio of 16.34, a PEG ratio of 3.42 and a beta of 1.29.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. The firm had revenue of C$17.21 billion during the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. Research analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 24th were given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, October 27th. Royal Bank of Canada’s payout ratio is presently 42.93%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RY shares. Barclays upped their target price on Royal Bank of Canada from C$221.00 to C$227.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Scotiabank lifted their target price on Royal Bank of Canada from C$218.00 to C$231.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Bank of America raised their price objective on Royal Bank of Canada from C$214.00 to C$227.00 in a report on Thursday, August 28th. Natl Bk Canada raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Finally, Raymond James Financial boosted their price target on shares of Royal Bank of Canada from C$229.00 to C$239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$224.92.

About Royal Bank of Canada

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.