Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells C$6,045,392.87 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 23,089 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$6,045,392.87. Following the transaction, the director owned 5,873 shares of the company’s stock, valued at C$1,537,727.59. This trade represents a 79.72% decrease in their position.

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

• 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 Price Performance

Royal Bank of Canada stock opened at C$261.64 on Thursday. The company has a market capitalization of C$363.81 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 3.42 and a beta of 1.14. Royal Bank of Canada has a one year low of C$171.29 and a one year high of C$265.10. The business has a 50 day simple moving average of C$239.70 and a 200 day simple moving average of C$231.36.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results on Thursday, February 26th. The financial services provider reported C$4.08 EPS for the quarter. The business had revenue of C$17.96 billion during the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. Equities analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were given a $1.64 dividend. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 annualized dividend and a yield of 2.5%. Royal Bank of Canada’s payout ratio is presently 42.58%.

Wall Street Analyst Weigh In

RY has been the subject of several research analyst reports. Scotiabank lifted their price objective on Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a “sector outperform” rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce lifted their price objective on Royal Bank of Canada from C$242.00 to C$258.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. National Bank Financial lifted their price objective on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Barclays lifted their price objective on Royal Bank of Canada from C$244.00 to C$245.00 in a research report on Friday, February 27th. Finally, TD lifted their price objective on Royal Bank of Canada from C$259.00 to C$267.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average price target of C$253.19.

About Royal Bank of Canada

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.