Royal Bank of Canada (TSE:RY) Director Sells C$38,236,267.30 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 133,130 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of C$287.21, for a total transaction of C$38,236,267.30. Following the transaction, the director directly owned 5,873 shares of the company’s stock, valued at C$1,686,784.33. The trade was a 95.77% decrease in their ownership of the stock.

David Ian Mckay also recently made the following trade(s):

• On Monday, June 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$284.86, for a total transaction of C$6,577,132.54.
• On Friday, May 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$261.83, for a total transaction of C$6,045,392.87.
• On Wednesday, April 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$242.82, for a total transaction of C$5,606,470.98.

Royal Bank of Canada Trading Down 0.4%

Shares of RY opened at C$288.01 on Friday. The firm has a market cap of C$400.24 billion, a PE ratio of 18.73, a P/E/G ratio of 3.42 and a beta of 1.08. The firm has a fifty day simple moving average of C$261.28 and a two-hundred day simple moving average of C$241.22. Royal Bank of Canada has a 1-year low of C$175.50 and a 1-year high of C$290.70.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. The firm had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%. As a group, research analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were issued a $1.64 dividend. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 2.3%. Royal Bank of Canada’s dividend payout ratio is currently 41.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Securities cut their price target on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Scotiabank increased their price objective on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, June 16th. Jefferies Financial Group raised their price objective on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. National Bank Financial raised their price objective on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, TD boosted their target price on shares of Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$260.81.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.