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

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) Director David Ian Mckay sold 20,304 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$3,555,721.76.

Royal Bank of Canada Price Performance

Shares of TSE RY traded up C$1.47 during trading hours on Thursday, reaching C$175.58. The stock had a trading volume of 8,055,318 shares, compared to its average volume of 4,594,097. The business’s fifty day moving average is C$174.26 and its two-hundred day moving average is C$165.78. The company has a market cap of C$247.57 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$127.60 and a twelve month high of C$180.45.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 24th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.37%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is presently 50.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. CIBC boosted their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Canaccord Genuity Group upped their target price on Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. BMO Capital Markets decreased their target price on Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. Scotiabank upped their target price on Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday, November 25th. Finally, National Bankshares upped their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Buy” and an average target price of C$176.58.

Get Our Latest Analysis on RY

About Royal Bank of Canada

(Get Free Report)

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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Insider Buying and Selling by Quarter for Royal Bank of Canada (TSE:RY)

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