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 Royal Bank of Canada stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total value of C$3,444,896.43.

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

• 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 transaction of C$3,555,721.76.

Royal Bank of Canada Stock Performance

TSE RY traded up C$4.46 during trading hours on Friday, hitting C$170.98. 4,373,100 shares of the company traded hands, compared to its average volume of 4,575,147. The business's 50-day moving average is C$172.44 and its 200-day moving average is C$169.84. The stock has a market capitalization of C$241.94 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$130.44 and a twelve month high of C$180.45.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 3.46%. Royal Bank of Canada's payout ratio is 49.49%.

Analyst Ratings Changes

Several brokerages have weighed in on RY. National Bankshares upped their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. CIBC cut their target price on shares of Royal Bank of Canada from C$176.00 to C$175.00 in a research report on Tuesday, February 18th. UBS Group reduced their price target on Royal Bank of Canada from C$200.00 to C$192.00 in a research report on Friday, February 14th. BMO Capital Markets cut their target price on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Finally, TD Securities dropped their price target 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$181.83.

About Royal Bank of Canada

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.