Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells 20,304 Shares of Stock

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY Director David Ian Mckay sold 20,304 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$161.89, for a total transaction of C$3,287,014.56.

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

• On Monday, February 24th, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$169.67, for a total transaction of C$3,444,896.43.
• On Wednesday, January 22nd, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76.

Royal Bank of Canada Price Performance

TSE:RY traded down C$3.66 during midday trading on Friday, reaching C$160.58. The stock had a trading volume of 3,935,914 shares, compared to its average volume of 4,225,376. The stock has a market capitalization of C$227.22 billion, a P/E ratio of 13.99, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 1-year low of C$131.57 and a 1-year high of C$180.45. The firm's fifty day simple moving average is C$168.40 and its 200-day simple moving average is C$170.63.

Royal Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.69%. Royal Bank of Canada's payout ratio is presently 49.49%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. TD Securities dropped their target price on Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. National Bankshares increased their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Cormark cut their price objective on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. Jefferies Financial Group decreased their target price on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday, February 18th. Finally, Canaccord Genuity Group increased their price target on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$181.67.

Royal Bank of Canada Company Profile

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.