David Ian Mckay Sells 23,089 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 23,089 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of C$284.86, for a total transaction of C$6,577,132.54. Following the transaction, the director owned 5,873 shares in the company, valued at approximately C$1,672,982.78. The trade was a 79.72% decrease in their ownership of the stock.

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

• On Tuesday, June 23rd, David Ian Mckay sold 133,130 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$287.21, for a total transaction of C$38,236,267.30.
• On Friday, May 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$261.83, for a total transaction of C$6,045,392.87.
• On Wednesday, April 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$242.82, for a total transaction of C$5,606,470.98.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at C$289.12 on Friday. The firm has a market capitalization of C$401.78 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. Royal Bank of Canada has a one year low of C$175.50 and a one year high of C$290.70. The company has a 50 day moving average price of C$260.36 and a 200 day moving average price of C$240.90.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. The company had revenue of C$17.45 billion for the quarter. As a group, equities analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were issued a $1.64 dividend. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 2.3%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 41.35%.

Wall Street Analysts Forecast Growth

RY has been the subject of several research analyst reports. TD upped their price target on Royal Bank of Canada from C$267.00 to C$272.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Jefferies Financial Group lifted their price objective on Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. Scotiabank increased their target price on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, June 16th. Canaccord Genuity Group raised their price target on shares of Royal Bank of Canada from C$280.00 to C$282.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, TD Securities reduced their price target on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$260.81.

Royal Bank of Canada Company Profile

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.