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

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 dated Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total transaction of C$3,701,453.72.

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

• On Friday, June 20th, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$175.47, for a total value of C$3,562,730.70.
• On Thursday, May 22nd, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$174.06, for a total transaction of C$3,534,158.91.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded up C$0.96 during midday trading on Friday, reaching C$181.03. The stock had a trading volume of 2,578,851 shares, compared to its average volume of 4,505,232. Royal Bank of Canada has a twelve month low of C$145.58 and a twelve month high of C$183.11. The stock has a market capitalization of C$256.16 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The stock's 50-day simple moving average is C$177.35 and its 200 day simple moving average is C$170.41.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 22nd will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Thursday, July 24th. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.48. This represents a $6.16 annualized dividend and a dividend yield of 3.40%. Royal Bank of Canada's dividend payout ratio is 49.49%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RY shares. Canaccord Genuity Group set a C$194.00 price objective on Royal Bank of Canada and gave the company a "buy" rating in a research report on Tuesday, June 24th. UBS Group reduced their price objective on Royal Bank of Canada from C$198.00 to C$196.00 in a report on Thursday, May 22nd. National Bank Financial cut Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research report on Thursday, May 29th. National Bankshares set a C$179.00 target price on Royal Bank of Canada and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group cut their target price on Royal Bank of Canada from C$195.00 to C$180.00 in a research note on Monday, April 21st. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of C$184.54.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.