Insider activity
Royal Bank of Canada
Open-market and private equity trades over the last 12 months. Derivatives and opening balances excluded.
Full stock page →Recent transactions
| Date | Side | Name | Shares | Price |
|---|---|---|---|---|
| Jul 22, 26 | Sell | McKay, David Ian Individual · CA$6.9m | 23,089 | CA$297.19 |
| Jun 23, 26 | Sell | McKay, David Ian Individual · CA$38.2m | 133,130 | CA$287.21 |
| Jun 22, 26 | Sell | McKay, David Ian Individual · CA$6.6m | 23,089 | CA$284.86 |
| May 22, 26 | Sell | McKay, David Ian Individual · CA$6.0m | 23,089 | CA$261.83 |
| Apr 22, 26 | Sell | McKay, David Ian Individual · CA$5.6m | 23,089 | CA$242.82 |
| Mar 20, 26 | Sell | McKay, David Ian Individual · CA$5.1m | 23,089 | CA$220.19 |
Recent insider activity at the Royal Bank of Canada raises questions about the motivations behind significant stock sales.
In the last two weeks, insider trading at the Royal Bank of Canada (RY.TO) has shown a notable trend, highlighted by a significant sale from a key executive. This activity can be interpreted in various ways, and it’s important to understand what these transactions mean in the broader market context.
Investor takeaway: While insider selling can sometimes raise red flags, it’s essential to consider the context and the overall performance of the company. In this case, the recent sale by David McKay, the CEO, may reflect personal financial decisions rather than a lack of confidence in the bank's future.
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Royal Bank of Canada
RY.TO
RY.TO
Royal Bank of Canada
WealthAwesomeMarket cap
$409.96B
P/E
19.2x
Div. yield
2.17%
Div. / share
$6.36
52W high
$304.55
52W low
$170.77
1W change
+0.11%
Beta
0.93
Analyst Price Targets
Based on analyst covering RY
Wall Street analysts forecast RY stock price to fall 7.5% over the next 12 months.
Consensus
Moderately BearishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$273.88
-7.5% Upside
Current Price
C$296.11
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on RY's historical volatility
30-Day Vol
15.5%
Annualized
90-Day Vol
15.0%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$354.00
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$314.27 | C$297.95 – C$331.49 |
| 60 trading days | C$333.55 | C$309.31 – C$359.68 |
| 90 trading days | C$354.00 | C$322.76 – C$388.27 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
CA$6.9 million in insider sales raises eyebrows
David McKay sold 23,089 shares at a price of CA$297.19 each, totaling CA$6.9 million. This is a significant transaction in the recent insider activity.
Bull case
Insider selling doesn’t always mean there’s negative sentiment about the company's future. It could be a strategic financial move by the executive. The Royal Bank of Canada continues to show strong fundamentals, and its position in the Canadian banking sector remains solid.
Bear case
The sale of CA$6.9 million worth of shares by a high-ranking insider could raise concerns among investors about potential issues within the company. If this trend continues without any buying activity, it may signal a lack of confidence in the bank's future performance.
Recent Insider Activity
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In the past two weeks, there has been one notable insider transaction at the Royal Bank of Canada. David McKay, the CEO, sold 23,089 shares at a price of CA$297.19 each, amounting to a total of CA$6.9 million. This sale, which occurred on July 22, 2026, is significant given the scale of the transaction and the absence of any share purchases during this period. Such activity can often prompt questions regarding the motivations behind the sale, particularly when it involves a high-ranking executive.
What This Might Suggest
While insider selling can sometimes raise concerns among investors, it’s essential to interpret these actions within a broader context. David McKay's decision to sell a substantial number of shares may reflect personal financial planning rather than a lack of confidence in the bank's future. It’s important to note that the Royal Bank of Canada continues to exhibit strong fundamentals, and the overall performance of the bank remains solid. Investors should consider this sale as one piece of a larger puzzle rather than a definitive signal of impending issues.
Looking Ahead
As the Royal Bank of Canada continues to navigate the complexities of the financial landscape, it will be crucial for investors to monitor not only insider activity but also the bank's performance metrics and market conditions. While insider sales can serve as a signal, they do not provide conclusive evidence of the company's trajectory. Keeping an eye on future insider trades, as well as the bank's operational results, will be key for those considering their investment strategies.
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