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 stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of C$284.86, for a total transaction of C$6,577,132.54. Following the completion of the transaction, the director owned 5,873 shares of the company’s stock, valued at C$1,672,982.78. This trade represents a 79.72% decrease in their ownership of the stock.

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

• On Tuesday, June 23rd, David Ian Mckay sold 133,130 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$287.21, for a total transaction of C$38,236,267.30.
• 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 shares were sold at an average price of C$242.82, for a total value of C$5,606,470.98.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at C$288.03 on Thursday. Royal Bank of Canada has a 1 year low of C$175.03 and a 1 year high of C$289.82. The business’s fifty day moving average is C$259.39 and its 200-day moving average is C$240.44. The stock has a market cap of C$400.26 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08.

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

Royal Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were given a dividend of $1.64 per share. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 2.3%. Royal Bank of Canada’s dividend payout ratio (DPR) is 41.35%.

Analyst Ratings Changes

Several research firms recently commented on RY. National Bank Financial increased their target price on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Canadian Imperial Bank of Commerce lifted their price target on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$280.00 to C$282.00 and gave the company a “buy” rating in a report on Friday, June 5th. Jefferies Financial Group increased their price objective on Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. Finally, TD Securities decreased their target price on 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 assigned a Hold rating to the company. According to data from MarketBeat.com, Royal Bank of Canada has a consensus 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.