Royal Bank of Canada (TSE:RY) Director David Ian Mckay Sells 23,089 Shares

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

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 shares were sold at an average price of C$242.82, for a total transaction of C$5,606,470.98.

Royal Bank of Canada Stock Up 0.5%

RY traded up C$1.29 during trading on Monday, hitting C$263.26. The company had a trading volume of 575,362 shares, compared to its average volume of 3,765,957. The company has a market capitalization of C$366.07 billion, a PE ratio of 18.08, a PEG 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 firm’s 50-day moving average price is C$237.29 and its 200 day moving average price is C$230.15.

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

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were given a dividend of $1.64 per share. The ex-dividend date of this dividend 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 42.58%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. TD Securities lowered their price objective 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 research note on Friday, February 27th. Desjardins raised their price objective on shares of Royal Bank of Canada from C$250.00 to C$262.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Jefferies Financial Group boosted their price objective on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. Scotiabank boosted their price objective on shares of Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a “sector outperform” rating in a report on Monday, May 4th. Finally, Canaccord Genuity Group boosted their price objective on shares of Royal Bank of Canada from C$260.00 to C$270.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average price target of C$253.19.

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.