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 business’s stock in a transaction on Wednesday, January 22nd. 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 Stock Performance

TSE RY traded up C$1.47 on Thursday, reaching C$175.58. The company’s stock had a trading volume of 8,055,318 shares, compared to its average volume of 4,594,097. Royal Bank of Canada has a twelve month low of C$127.60 and a twelve month high of C$180.45. The stock has a market cap of C$247.57 billion, a PE ratio of 15.55, a PEG ratio of 3.42 and a beta of 0.84. The firm’s 50 day moving average is C$174.26 and its two-hundred day moving average is C$165.78.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 24th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 3.37%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is presently 50.31%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RY shares. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price target for the company from C$178.00 to C$180.00 in a report on Friday, November 15th. National Bankshares boosted their price target on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. CIBC boosted their price target on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. Canaccord Genuity Group boosted their price target on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Finally, Scotiabank boosted their price target on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Buy” and a consensus price target of C$176.58.

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.