Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) Director David Ian Mckay sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of C$134.77, for a total transaction of C$556,595.97. Following the completion of the sale, the director now directly owns 5,873 shares in the company, valued at approximately C$791,498.34.
David Ian Mckay also recently made the following trade(s):
- On Monday, November 21st, David Ian Mckay sold 4,078 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$132.33, for a total transaction of C$539,651.12.
Royal Bank of Canada Stock Performance
Shares of Royal Bank of Canada stock opened at C$135.12 on Wednesday. Royal Bank of Canada has a 52-week low of C$116.75 and a 52-week high of C$148.26. The stock has a market capitalization of C$186.85 billion and a price-to-earnings ratio of 12.22. The company has a fifty day moving average of C$131.55 and a 200-day moving average of C$127.43.
Royal Bank of Canada Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Thursday, January 26th will be issued a dividend of $1.32 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.28. This represents a $5.28 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Wednesday, January 25th. Royal Bank of Canada’s dividend payout ratio is currently 44.85%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on RY. National Bankshares lowered their price target on shares of Royal Bank of Canada from C$147.00 to C$145.00 in a research report on Wednesday, December 21st. Cormark boosted their price objective on shares of Royal Bank of Canada from C$147.00 to C$152.00 in a research note on Thursday, December 1st. Barclays boosted their price objective on shares of Royal Bank of Canada from C$140.00 to C$151.00 in a research note on Thursday, December 1st. Keefe, Bruyette & Woods raised shares of Royal Bank of Canada from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from C$129.00 to C$138.00 in a research note on Thursday, December 1st. Finally, Fundamental Research reissued a “buy” rating and issued a C$138.40 price target on shares of Royal Bank of Canada in a research note on Tuesday, December 13th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus price target of C$144.92.
Royal Bank of Canada Company Profile
Royal Bank of Canada operates as a diversified financial service company. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury, and Capital Markets. The Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions, as well as indirect lending, including auto financing; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.
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