Key Points
- Director David Ian Mckay sold 91,288 shares on Dec. 12 at an average price of C$228.75 for a total of C$20,882,130, cutting his ownership by 93.96% to 5,873 shares (worth C$1.343M).
- RY is trading near its 52-week high (opened C$230.10; 52-week range C$151.25–C$230.99) with a market cap of C$323.29B and P/E of 16.35, and it pays a quarterly dividend of $1.54 (annualized C$6.16) for a 2.7% yield and ~42.9% payout ratio.
- Analyst sentiment is generally positive: several recent upgrades and target increases have left RY with a MarketBeat consensus of "Moderate Buy" and an average target price of C$224.92.
Royal Bank of Canada (TSE:RY - Get Free Report) (NYSE:RY) Director David Ian Mckay sold 91,288 shares of the business's stock in a transaction on Friday, December 12th. The stock was sold at an average price of C$228.75, for a total transaction of C$20,882,130.00. Following the sale, the director owned 5,873 shares in the company, valued at C$1,343,448.75. The trade was a 93.96% decrease in their ownership of the stock.
Royal Bank of Canada Stock Up 0.8%
Shares of RY opened at C$230.10 on Tuesday. Royal Bank of Canada has a 52-week low of C$151.25 and a 52-week high of C$230.99. The company has a 50-day simple moving average of C$210.67 and a 200-day simple moving average of C$195.36. The company has a market capitalization of C$323.29 billion, a PE ratio of 16.35, a P/E/G ratio of 3.42 and a beta of 1.29.
Royal Bank of Canada (TSE:RY - Get Free Report) (NYSE:RY) last released its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 EPS for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. The firm had revenue of C$17.21 billion for the quarter. On average, research analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current year.
Royal Bank of Canada Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 24th were paid a dividend of $1.54 per share. The ex-dividend date of this dividend was Monday, October 27th. This represents a $6.16 annualized dividend and a dividend yield of 2.7%. Royal Bank of Canada's payout ratio is 42.93%.
Analyst Ratings Changes
RY has been the subject of several research analyst reports. Natl Bk Canada raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 1st. National Bankshares upgraded Royal Bank of Canada from a "sector perform" rating to an "outperform" rating and raised their price target for the company from C$203.00 to C$231.00 in a research report on Monday, November 17th. Scotiabank lifted their price target on Royal Bank of Canada from C$218.00 to C$231.00 and gave the stock an "outperform" rating in a research note on Thursday, December 4th. BMO Capital Markets boosted their price objective on shares of Royal Bank of Canada from C$190.00 to C$203.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Finally, Jefferies Financial Group downgraded shares of Royal Bank of Canada from a "buy" rating to a "hold" rating and raised their target price for the company from C$213.00 to C$215.00 in a report on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Royal Bank of Canada currently has an average rating of "Moderate Buy" and an average target price of C$224.92.
Check Out Our Latest Stock Report on RY
About Royal Bank of Canada
(
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Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.
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