David Ian Mckay Sells 4,130 Shares of Royal Bank of Canada (TSE:RY) Stock

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 (TSE:RY – Get Rating) (NYSE:RY) last announced its quarterly earnings data on Wednesday, November 30th. The financial services provider reported C$2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.71 by C$0.07. The business had revenue of C$12.57 billion during the quarter. On average, equities research analysts forecast that Royal Bank of Canada will post 12.6999987 earnings per share for the current fiscal year.

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

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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.