Royal Bank of Canada (TSE:RY) Director Sells C$3,254,042.89 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of C$160.27, for a total value of C$3,254,042.89.

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

• On Friday, March 21st, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$161.89, for a total transaction of C$3,287,014.56.
• On Monday, February 24th, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$169.67, for a total value of C$3,444,896.43.

Royal Bank of Canada Trading Up 0.2 %

Shares of RY stock opened at C$163.30 on Friday. The stock has a 50 day simple moving average of C$162.81 and a 200-day simple moving average of C$169.53. The company has a market cap of C$231.07 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 12-month low of C$132.88 and a 12-month high of C$180.45.

Royal Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 23rd will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RY. CIBC upgraded Royal Bank of Canada from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from C$167.00 to C$168.00 in a research note on Friday, April 4th. Scotiabank decreased their price target on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Cormark lowered 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. Jefferies Financial Group reduced their target price on shares of Royal Bank of Canada from C$195.00 to C$180.00 in a report on Monday, April 21st. Finally, UBS Group raised their price target on Royal Bank of Canada from C$192.00 to C$198.00 in a report on Friday, March 7th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$180.00.

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.