Royal Bank of Canada (TSE:RY) Director David Ian Mckay Sells 20,304 Shares

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 stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76.

Royal Bank of Canada Trading Up 0.4 %

Shares of RY stock opened at C$166.65 on Wednesday. Royal Bank of Canada has a 1-year low of C$131.57 and a 1-year high of C$180.45. The stock has a market cap of C$235.81 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 3.42 and a beta of 0.84. The stock has a 50-day moving average of C$168.96 and a 200-day moving average of C$170.64.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 3.55%. Royal Bank of Canada’s dividend payout ratio is presently 49.49%.

Analyst Upgrades and Downgrades

RY has been the topic of several research reports. UBS Group lifted their price target on shares of Royal Bank of Canada from C$192.00 to C$198.00 in a report on Friday, March 7th. Scotiabank decreased their target price on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Jefferies Financial Group cut their price objective on Royal Bank of Canada from C$197.00 to C$192.00 in a report on Tuesday, February 18th. National Bankshares upped their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Finally, CIBC dropped their target price on Royal Bank of Canada from C$175.00 to C$167.00 in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Buy” and an average 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.