Insider Selling: 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 firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$161.89, for a total transaction 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 transaction of C$3,555,721.76.

Royal Bank of Canada Stock Down 1.1 %

TSE:RY opened at C$164.24 on Friday. The stock’s fifty day simple moving average is C$168.67 and its 200-day simple moving average is C$170.65. The firm has a market capitalization of C$232.40 billion, a P/E ratio of 14.31, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 12-month low of C$131.57 and a 12-month high of C$180.45.

Royal Bank of Canada Announces Dividend

The business also recently declared 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 3.60%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.49%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RY. Cormark lowered their price objective on Royal Bank of Canada from C$194.00 to C$189.00 in a report on Friday, February 28th. CIBC decreased their price target on shares of Royal Bank of Canada from C$175.00 to C$167.00 in a research report on Wednesday, March 5th. UBS Group upped their target price on shares of Royal Bank of Canada from C$192.00 to C$198.00 in a research note on Friday, March 7th. Jefferies Financial Group cut their price target on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a report on Tuesday, February 18th. Finally, Canaccord Genuity Group boosted their price objective on Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. Two investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus 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.