Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells 74,852 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total value of C$12,320,115.24.

Royal Bank of Canada Price Performance

RY stock opened at C$164.08 on Friday. Royal Bank of Canada has a 1-year low of C$107.92 and a 1-year high of C$166.00. The business has a fifty day moving average price of C$153.30 and a 200-day moving average price of C$143.76. The stock has a market capitalization of C$232.99 billion, a P/E ratio of 14.53, a P/E/G ratio of 10.64 and a beta of 0.85.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, topping the consensus estimate of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.38% and a net margin of 28.37%. The firm had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion. As a group, analysts anticipate that Royal Bank of Canada will post 12.8601286 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 50.31%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RY shares. Scotiabank dropped their price target on Royal Bank of Canada from C$157.00 to C$154.00 in a research report on Monday, August 19th. Argus upgraded Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, June 6th. National Bankshares lifted their price target on Royal Bank of Canada from C$160.00 to C$169.00 in a research report on Thursday, August 29th. TD Securities lifted their price target on Royal Bank of Canada from C$171.00 to C$178.00 in a research report on Thursday, August 29th. Finally, UBS Group set a C$165.00 price target on Royal Bank of Canada and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$161.57.

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.