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 firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of C$175.47, for a total value of C$3,562,730.70.

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

• 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 value of C$3,534,158.91.
• On Tuesday, April 22nd, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$160.27, for a total transaction of C$3,254,042.89.

Royal Bank of Canada Stock Performance

TSE RY traded up C$1.89 during trading on Thursday, reaching C$177.61. The company's stock had a trading volume of 3,583,988 shares, compared to its average volume of 4,533,883. The firm has a market cap of C$251.32 billion, a price-to-earnings ratio of 15.48, 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$144.04 and a twelve month high of C$180.45. The business's fifty day moving average price is C$171.21 and its 200-day moving average price is C$169.56.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be paid a dividend of $1.54 per share. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.48. This represents a $6.16 annualized dividend and a dividend yield of 3.47%. Royal Bank of Canada's dividend payout ratio is 49.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RY shares. TD Securities lowered their target price on shares of Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating for the company in a report on Friday, February 28th. Jefferies Financial Group reduced their price target on shares of Royal Bank of Canada from C$195.00 to C$180.00 in a research report on Monday, April 21st. CIBC upped their price objective on shares of Royal Bank of Canada from C$182.00 to C$183.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Finally, Scotiabank upgraded Royal Bank of Canada to a "strong-buy" rating in a research report on Thursday, May 15th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of "Buy" and an average price target of C$184.54.

Royal Bank of Canada Company Profile

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.