Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells C$38,236,267.30 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 133,130 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of C$287.21, for a total transaction of C$38,236,267.30. Following the sale, the director owned 5,873 shares of the company’s stock, valued at approximately C$1,686,784.33. This trade represents a 95.77% decrease in their ownership of the stock.

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

• On Monday, June 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$284.86, for a total value of C$6,577,132.54.
• On Friday, May 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$261.83, for a total value of C$6,045,392.87.
• On Wednesday, April 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$242.82, for a total value of C$5,606,470.98.

Royal Bank of Canada Stock Down 0.2%

RY traded down C$0.52 during trading on Wednesday, hitting C$287.89. The company’s stock had a trading volume of 1,863,272 shares, compared to its average volume of 3,602,954. Royal Bank of Canada has a twelve month low of C$175.03 and a twelve month high of C$289.82. The stock’s fifty day moving average price is C$258.41 and its 200-day moving average price is C$239.99. The firm has a market capitalization of C$400.07 billion, a P/E ratio of 18.72, a PEG ratio of 3.42 and a beta of 1.08.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. The firm had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. Equities research analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, April 23rd. Royal Bank of Canada’s payout ratio is currently 41.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RY shares. National Bank Financial boosted their price target on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Desjardins lifted their price objective on shares of Royal Bank of Canada from C$262.00 to C$275.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Raymond James Financial boosted their target price on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research note on Friday, May 29th. Barclays raised their price target on shares of Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Finally, TD Securities lowered their price target on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$260.81.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.