Royal Bank of Canada (TSE:RY) Director David Ian Mckay Sells 20,304 Shares

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada 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 stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76.

Royal Bank of Canada Trading Up 0.4 %

TSE RY opened at C$171.42 on Thursday. Royal Bank of Canada has a 12 month low of C$130.44 and a 12 month high of C$180.45. The stock’s 50 day moving average is C$172.61 and its 200 day moving average is C$169.41. The stock has a market cap of C$242.56 billion, a PE ratio of 14.94, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 24th were given a dividend of $1.48 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Monday, January 27th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.45%. Royal Bank of Canada’s dividend payout ratio is currently 49.49%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RY. Jefferies Financial Group decreased their price objective on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a report on Tuesday, February 18th. National Bankshares boosted their target price on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. Scotiabank lowered 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. BMO Capital Markets cut their price objective on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Finally, UBS Group lowered their target price on Royal Bank of Canada from C$200.00 to C$192.00 in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target 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.