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 stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total value 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 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 2.7 %

Shares of TSE RY opened at C$170.98 on Friday. The stock’s 50 day moving average price is C$172.44 and its two-hundred day moving average price is C$169.70. Royal Bank of Canada has a 52-week low of C$130.44 and a 52-week high of C$180.45. The stock has a market capitalization of C$241.94 billion, a P/E ratio of 14.90, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 3.46%. Royal Bank of Canada’s payout ratio is currently 49.49%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TD Securities lowered their price target on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating for the company in a report on Friday. UBS Group reduced their price target on Royal Bank of Canada from C$200.00 to C$192.00 in a report on Friday, February 14th. National Bankshares increased their price target on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. BMO Capital Markets reduced their price target on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Finally, Canaccord Genuity Group increased their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$181.83.

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.