David Ian Mckay Sells 133,130 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 133,130 shares of Royal Bank of Canada stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of C$287.21, for a total transaction of C$38,236,267.30. Following the sale, the director owned 5,873 shares in the company, valued at approximately C$1,686,784.33. The trade was a 95.77% decrease in their position.

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

• On Monday, June 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$284.86, for a total transaction of C$6,577,132.54.
• On Friday, May 22nd, David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock. The stock was 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 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 Stock Performance

Shares of TSE RY opened at C$289.12 on Friday. The company has a market cap of C$401.78 billion, a P/E ratio of 18.80, a P/E/G ratio of 3.42 and a beta of 1.08. Royal Bank of Canada has a 52-week low of C$175.50 and a 52-week high of C$290.70. The firm’s fifty day moving average is C$260.36 and its two-hundred day moving average is C$240.90.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. The business had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. As a group, 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 given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, April 23rd. Royal Bank of Canada’s payout ratio is currently 41.35%.

Analysts Set New Price Targets

RY has been the subject of several research analyst reports. TD Securities reduced their price objective on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Desjardins increased their target price on Royal Bank of Canada from C$262.00 to C$275.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Scotiabank raised their target price on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a “sector outperform” rating in a report on Tuesday, June 16th. Barclays boosted their price target on shares of Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Finally, Raymond James Financial upped their price target on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and an average price target 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.