Insider Selling: Royal Bank of Canada (RY) Insider Sells C$931,000.00 in Stock
Royal Bank of Canada (TSE:RY) (NYSE:RY) insider Alex Douglas Mcgregor sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of C$93.10, for a total transaction of C$931,000.00.
Royal Bank of Canada (TSE RY) opened at 94.40 on Friday. The stock’s 50 day moving average is $92.59 and its 200-day moving average is $94.32. Royal Bank of Canada has a 12-month low of $80.35 and a 12-month high of $99.90. The company has a market capitalization of $137.63 billion and a P/E ratio of 12.89.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be issued a $0.91 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.87. This represents a $3.64 annualized dividend and a dividend yield of 3.86%.
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RY has been the subject of a number of research reports. National Bank Financial reissued a “sector perform” rating and issued a C$99.00 price target on shares of Royal Bank of Canada in a report on Friday, May 26th. Scotiabank increased their price target on shares of Royal Bank of Canada from C$101.00 to C$102.00 and gave the company an “outperform” rating in a report on Friday, May 26th. BMO Capital Markets reissued a “market perform” rating and issued a C$100.00 price target on shares of Royal Bank of Canada in a report on Thursday, August 24th. Eight Capital increased their price target on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a report on Friday, August 25th. Finally, Barclays PLC increased their price target on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday, August 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$99.75.
About Royal Bank of Canada
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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