Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells 23,089 Shares of Stock

by · The Cerbat Gem

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) Director David Ian Mckay sold 23,089 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total transaction of C$6,045,392.87. Following the completion of the transaction, the director directly owned 5,873 shares of the company’s stock, valued at approximately C$1,537,727.59. The trade was a 79.72% decrease in their position.

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

  • On Wednesday, April 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$242.82, for a total transaction of C$5,606,470.98.

Royal Bank of Canada Trading Up 0.5%

TSE:RY traded up C$1.29 on Monday, hitting C$263.26. The company had a trading volume of 575,362 shares, compared to its average volume of 3,765,957. The stock has a market capitalization of C$366.07 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 3.42 and a beta of 1.14. The firm has a 50 day moving average of C$237.29 and a two-hundred day moving average of C$230.15. Royal Bank of Canada has a 52 week low of C$171.29 and a 52 week high of C$265.10.

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last issued its quarterly earnings data on Thursday, February 26th. The financial services provider reported C$4.08 EPS for the quarter. The business had revenue of C$17.96 billion during the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. As a group, equities analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were paid a $1.64 dividend. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $6.56 annualized dividend and a yield of 2.5%. Royal Bank of Canada’s dividend payout ratio is presently 42.58%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RY shares. Raymond James Financial downgraded shares of Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and increased their price objective for the company from C$248.00 to C$265.50 in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce increased their price objective on shares of Royal Bank of Canada from C$242.00 to C$258.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Jefferies Financial Group increased their price objective on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. Desjardins increased their price objective on shares of Royal Bank of Canada from C$250.00 to C$262.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Scotiabank raised their price target on shares of Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a “sector outperform” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$253.19.

Check Out Our Latest Analysis on RY

Royal Bank of Canada Company Profile

(Get Free Report)

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.

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