Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells 20,304 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total transaction of C$3,444,896.43.

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

• On Wednesday, January 22nd, David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock. The stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76.

Royal Bank of Canada Trading Down 2.9 %

Shares of RY opened at C$166.52 on Friday. The stock has a 50 day simple moving average of C$172.49 and a 200-day simple moving average of C$169.54. The stock has a market cap of C$235.63 billion, a PE ratio of 14.51, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 1 year low of C$130.44 and a 1 year high of C$180.45.

Royal Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 3.56%. Royal Bank of Canada’s dividend payout ratio is presently 49.49%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jefferies Financial Group reduced their target price on Royal Bank of Canada from C$197.00 to C$192.00 in a report on Tuesday, February 18th. CIBC lowered their target price on shares of Royal Bank of Canada from C$176.00 to C$175.00 in a research note on Tuesday, February 18th. National Bankshares lifted their price target on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. BMO Capital Markets cut their price objective on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. Finally, Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of “Buy” and a consensus target price of C$180.50.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.