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

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY Director David Ian Mckay sold 20,304 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of C$174.06, for a total transaction of C$3,534,158.91.

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

• On Tuesday, April 22nd, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$160.27, for a total value of C$3,254,042.89.
• On Friday, March 21st, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$161.89, for a total value of C$3,287,014.56.
• On Monday, February 24th, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$169.67, for a total value of C$3,444,896.43.

Royal Bank of Canada Stock Up 0.5%

RY traded up C$0.91 during trading on Friday, hitting C$176.32. The company's stock had a trading volume of 1,568,763 shares, compared to its average volume of 4,863,458. The business's 50 day simple moving average is C$164.36 and its 200-day simple moving average is C$169.35. The firm has a market cap of C$249.49 billion, a PE ratio of 15.36, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a one year low of C$140.53 and a one year high of C$180.45.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 23rd will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $5.92 annualized dividend and a dividend yield of 3.36%. Royal Bank of Canada's dividend payout ratio (DPR) is 49.49%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RY. Jefferies Financial Group dropped their price target on shares of Royal Bank of Canada from C$195.00 to C$180.00 in a report on Monday, April 21st. Scotiabank upgraded shares of Royal Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. Cormark cut their target price on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. CIBC boosted their target price on shares of Royal Bank of Canada from C$168.00 to C$174.00 in a research note on Thursday. 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 note on Friday, February 28th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$180.33.

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.

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