Royal Bank of Canada (TSE:RY) Director Sells C$3,287,014.56 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 20,304 shares of the company’s stock in a transaction dated 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 stock was 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 transaction of C$3,555,721.76.

Royal Bank of Canada Price Performance

Shares of RY stock opened at C$166.65 on Wednesday. The firm has a 50-day moving average of C$168.96 and a 200-day moving average of C$170.64. Royal Bank of Canada has a one year low of C$131.57 and a one year high of C$180.45. The company has a market cap of C$235.81 billion, a P/E ratio of 14.52, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RY shares. National Bankshares upped their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Scotiabank cut their price target on Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. CIBC lowered their target price on Royal Bank of Canada from C$175.00 to C$167.00 in a research report on Wednesday, March 5th. Canaccord Genuity Group lifted 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. Finally, UBS Group upped their price objective on shares of Royal Bank of Canada from C$192.00 to C$198.00 in a report on Friday, March 7th. Two 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 stock. According to data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Buy” and a consensus target price 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.