Royal Bank of Canada (TSE:RY) Director David Ian Mckay 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 Thursday, September 22nd. The stock was sold at an average price of C$125.21, for a total value of C$510,585.99. Following the completion of the sale, the director now owns 5,873 shares of the company’s stock, valued at C$735,328.97.

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

  • On Monday, August 22nd, David Ian Mckay sold 4,078 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$127.06, for a total value of C$518,149.86.
  • On Friday, July 22nd, David Ian Mckay sold 4,078 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$124.42, for a total value of C$507,400.66.

Royal Bank of Canada Price Performance

Shares of RY opened at C$124.98 on Friday. The firm has a market cap of C$173.94 billion and a PE ratio of 11.38. The stock’s fifty day moving average price is C$125.24 and its two-hundred day moving average price is C$129.61. Royal Bank of Canada has a 1 year low of C$118.24 and a 1 year high of C$149.60.

Royal Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Wednesday, October 26th will be paid a $1.28 dividend. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $5.12 annualized dividend and a dividend yield of 4.10%. Royal Bank of Canada’s payout ratio is presently 43.35%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. CIBC decreased their price objective on Royal Bank of Canada from C$146.00 to C$140.00 in a report on Wednesday, September 7th. Canaccord Genuity Group decreased their price objective on Royal Bank of Canada from C$131.50 to C$130.50 in a report on Thursday, August 25th. Credit Suisse Group cut their target price on Royal Bank of Canada to C$143.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th. TD Securities cut their target price on Royal Bank of Canada from C$150.00 to C$145.00 and set a “buy” rating on the stock in a research report on Friday, May 27th. Finally, BMO Capital Markets cut their target price on Royal Bank of Canada from C$140.00 to C$132.00 in a research report on Friday, September 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average target price of C$143.27.

Royal Bank of Canada Company Profile

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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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