Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells C$3,555,721.76 in Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 20,304 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$3,555,721.76.

Royal Bank of Canada Trading Up 0.2 %

TSE RY opened at C$175.96 on Friday. The stock has a fifty day simple moving average of C$174.41 and a 200-day simple moving average of C$166.15. The stock has a market cap of C$248.10 billion, a PE ratio of 15.59, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$127.60 and a twelve month high of C$180.45.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 24th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.36%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.31%.

Analysts Set New Price Targets

A number of analysts recently commented on RY shares. Canaccord Genuity Group lifted their target price on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. CIBC increased their target price on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. BMO Capital Markets decreased their target price on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price target for the company from C$178.00 to C$180.00 in a research report on Friday, November 15th. Two investment 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. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of “Buy” and a consensus target price of C$176.58.

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.