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 company's stock in a transaction that occurred on Friday, June 20th. The shares were 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 transaction 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 Down 0.3%

TSE RY traded down C$0.52 during mid-day trading on Monday, hitting C$174.32. The stock had a trading volume of 950,332 shares, compared to its average volume of 4,550,086. Royal Bank of Canada has a 52-week low of C$142.46 and a 52-week high of C$180.45. The company has a market cap of C$246.66 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 3.42 and a beta of 0.84. The company has a 50 day simple moving average of C$170.30 and a 200 day simple moving average of C$169.56.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be issued a $1.54 dividend. 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 yield of 3.53%. Royal Bank of Canada's dividend payout ratio is 49.49%.

Analyst Upgrades and Downgrades

RY has been the topic of a number of recent analyst reports. CIBC boosted their price target on shares of Royal Bank of Canada from C$182.00 to C$183.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Jefferies Financial Group dropped their target price on Royal Bank of Canada from C$195.00 to C$180.00 in a research report on Monday, April 21st. Scotiabank raised Royal Bank of Canada to a "strong-buy" rating in a research note on Thursday, May 15th. TD Securities decreased 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. Finally, UBS Group cut their price objective on Royal Bank of Canada from C$198.00 to C$196.00 in a research report on Thursday, May 22nd. 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 stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of C$183.75.

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.

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