Royal Bank of Canada (TSE:RY) head David Ian Mckay sells 4,078 shares

Royal Bank of Canada (TSE:RY – Get a rating) (NYSE:RY) Director David Ian Mckay sold 4,078 shares in a trade that took place on Thursday, September 22. The shares were sold at an average price of C$125.21, for a total value of C$510,585.99. As a result of the transaction, the administrator now owns 5,873 shares of the company, valued at approximately C$735,328.97.

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

  • On Monday, August 22, David Ian McKay sold 4,078 shares of Royal Bank of Canada. The shares were sold at an average price of C$127.06, for a total value of C$518,149.86.
  • On Friday July 22, David Ian Mckay sold 4,078 shares of Royal Bank of Canada. The shares were sold at an average price of C$124.42, for a total value of C$507,400.66.

Royal Bank of Canada shares fall 0.5%

Shares of RY traded lower C$0.63 at midday Thursday, hitting C$124.98. The company had a trading volume of 1,905,867 shares, compared to an average volume of 3,869,505. The stock has a market capitalization of C$173.94 billion and a PE ratio of 11.44. Royal Bank of Canada has a 1-year low of C$118.24 and a 1-year high of C$149.60. The company has a 50-day simple moving average of C$125.13 and a 200-day simple moving average of C$129.69.

Royal Bank of Canada announces dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 24. Shareholders of record on Wednesday, October 26 will receive a dividend of $1.28 per share. This represents a dividend of $5.12 on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Tuesday, October 25. Royal Bank of Canada’s dividend payout ratio is currently 43.35%.

A Wall Street analyst gives his opinion

Several research companies have recently commented on RY. Credit Suisse Group cut its price target on Royal Bank of Canada to C$143.00 and set an “outperform” rating for the company in a Thursday, Aug. 25 research note. TD Securities cut its price target on Royal Bank of Canada from C$150.00 to C$145.00 and set a “buy” rating for the company in a Friday, May 27 research note. National Bank Stocks raised its price target on Royal Bank of Canada from C$147.00 to C$148.00 and gave the company an “outperform” rating in a Thursday, Aug. 25 research note. Cormark raised its price target on Royal Bank of Canada from C$147.00 to C$151.00 and gave the company a “buy” rating in a Thursday, August 25 research note. Finally, Canaccord Genuity Group reduced its price target on Royal Bank of Canada from C$131.50 to C$130.50 in a Thursday, August 25 research note. One analyst assigned the stock a sell rating, one assigned a hold rating and eleven assigned the company’s stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and a consensus price target of C$143.27.

Profile of Royal Bank of Canada

(Get a rating)

Royal Bank of Canada is a globally diversified financial services company. The Company’s Personal and Commercial Banking segment offers checking and savings accounts, home equity financing, personal loans, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, commercial products and services to small and medium commercial enterprises.

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Insider buying and selling by quarter for Royal Bank of Canada (TSE:RY)

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