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 firm’s stock in a transaction on Friday, March 21st. The shares were 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 shares were sold at an average price of C$169.67, for a total value of C$3,444,896.43.
• On Wednesday, January 22nd, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$175.12, for a total value of C$3,555,721.76.

Royal Bank of Canada Stock Up 0.8 %

Shares of RY traded up C$1.27 during mid-day trading on Tuesday, hitting C$167.27. 769,098 shares of the company’s stock traded hands, compared to its average volume of 4,247,553. The business’s 50-day moving average price is C$169.03 and its 200-day moving average price is C$170.62. Royal Bank of Canada has a 1 year low of C$131.57 and a 1 year high of C$180.45. The firm has a market capitalization of C$236.69 billion, a P/E ratio of 14.57, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 3.54%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.49%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RY. TD Securities reduced their target price on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating on the stock in a report on Friday, February 28th. CIBC lowered their price target on Royal Bank of Canada from C$175.00 to C$167.00 in a research report on Wednesday, March 5th. Scotiabank reduced their target price 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. BMO Capital Markets dropped their price objective on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Finally, Canaccord Genuity Group boosted their price target on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$181.67.

About Royal Bank of Canada

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.