David Ian Mckay Sells 20,304 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 20,304 shares of the company’s stock in a transaction dated Wednesday, January 22nd. 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

Shares of RY stock opened at C$175.96 on Friday. Royal Bank of Canada has a 1 year low of C$127.60 and a 1 year high of C$180.45. The stock’s 50 day simple moving average is C$174.33 and its two-hundred day simple moving average is C$165.96. The company has a market cap of C$248.10 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 24th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, January 27th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a yield of 3.36%. Royal Bank of Canada’s dividend payout ratio is 50.31%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RY shares. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Canaccord Genuity Group increased their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their price target for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th. Scotiabank increased their price target on Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday, November 25th. Finally, CIBC increased their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$176.58.

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.