David Ian Mckay Sells 20,304 Shares of Royal Bank of Canada (TSE:RY) 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 dated Monday, February 24th. The stock was sold at an average price of C$169.67, for a total transaction of C$3,444,896.43.

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

• 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 Stock Up 0.1 %

Shares of Royal Bank of Canada stock traded up C$0.11 on Wednesday, hitting C$170.80. The company’s stock had a trading volume of 916,961 shares, compared to its average volume of 4,491,191. The firm has a fifty day moving average price of C$172.64 and a 200-day moving average price of C$169.24. Royal Bank of Canada has a 52-week low of C$130.44 and a 52-week high of C$180.45. The company has a market capitalization of C$241.68 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 24th were given a $1.48 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is currently 49.49%.

Analyst Ratings Changes

RY has been the topic of a number of research reports. UBS Group decreased their price target on Royal Bank of Canada from C$200.00 to C$192.00 in a research note on Friday, February 14th. Jefferies Financial Group cut their price target on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a research note on Tuesday, February 18th. BMO Capital Markets lowered their price objective on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. Canaccord Genuity Group upped their target price on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. Finally, 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 report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of “Buy” and an average price target of C$180.50.

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.