Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells 4,078 Shares of Stock

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) Director David Ian Mckay sold 4,078 shares of Royal Bank of Canada stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of C$132.33, for a total transaction of C$539,651.12. Following the completion of the transaction, the director now directly owns 5,873 shares in the company, valued at C$777,187.60.

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

  • On Monday, October 24th, David Ian Mckay sold 4,078 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$124.89, for a total transaction of C$509,291.63.
  • On Thursday, September 22nd, David Ian Mckay sold 4,078 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$125.21, for a total transaction of C$510,585.99.

Royal Bank of Canada Trading Up 1.4 %

Shares of TSE RY opened at C$134.83 on Wednesday. The firm’s 50-day moving average price is C$126.11 and its 200-day moving average price is C$126.20. Royal Bank of Canada has a 1-year low of C$116.75 and a 1-year high of C$149.60. The firm has a market capitalization of C$187.64 billion and a P/E ratio of 12.28.

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) last announced its quarterly earnings data on Wednesday, August 24th. The financial services provider reported C$2.55 earnings per share for the quarter, missing the consensus estimate of C$2.67 by C($0.12). The firm had revenue of C$12.13 billion for the quarter. Equities research analysts forecast that Royal Bank of Canada will post 11.8399996 EPS for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be issued a dividend of $1.28 per share. The ex-dividend date is Tuesday, October 25th. This represents a $5.12 annualized dividend and a dividend yield of 3.80%. Royal Bank of Canada’s dividend payout ratio is currently 43.35%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RY. Fundamental Research reiterated a “buy” rating and set a C$143.00 price target on shares of Royal Bank of Canada in a report on Wednesday, September 7th. National Bankshares lifted their price target on shares of Royal Bank of Canada from C$147.00 to C$148.00 and gave the stock an “outperform” rating in a report on Thursday, August 25th. Canaccord Genuity Group cut their price target on shares of Royal Bank of Canada from C$131.50 to C$130.50 in a report on Thursday, August 25th. Keefe, Bruyette & Woods boosted their target price on shares of Royal Bank of Canada from C$118.00 to C$129.00 in a report on Friday, September 2nd. Finally, Barclays boosted their target price on shares of Royal Bank of Canada from C$137.00 to C$140.00 in a report on Monday, November 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of C$143.42.

Royal Bank of Canada Company Profile

(Get Rating)

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.

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