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 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 Trading Down 2.9 %

TSE:RY opened at C$166.52 on Friday. The firm has a market cap of C$235.63 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$130.44 and a twelve month high of C$180.45. The company has a 50-day moving average of C$172.49 and a 200-day moving average of C$169.54.

Royal Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.56%. Royal Bank of Canada’s payout ratio is 49.49%.

Analyst Upgrades and Downgrades

RY has been the topic of a number of analyst reports. CIBC cut their price objective on shares of Royal Bank of Canada from C$176.00 to C$175.00 in a research report on Tuesday, February 18th. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price objective for the stock from C$178.00 to C$180.00 in a research report on Friday, November 15th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. BMO Capital Markets decreased their price target on Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. Finally, UBS Group cut their price objective on shares of Royal Bank of Canada from C$200.00 to C$192.00 in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$180.50.

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.