A director at Royal Bank of Canada (NYSE:RY) has made a significant stock purchase, according to a Form 4 filing with the Securities and Exchange Commission.
McKay, David Ian, serving as , purchased 28,962 shares on February 23, 2026 at an average price of $90.23 per share. The total transaction was valued at $2.1M.
Following this transaction, McKay, David Ian now owns 28,962 shares of Royal Bank of Canada stock. Royal Bank of Canada's stock currently trades at $173.64.
Insider purchases are widely considered one of the most reliable bullish indicators in equity markets. Unlike selling — which can happen for personal financial reasons — buying requires the insider to commit their own capital, suggesting genuine confidence in the company's future. When a buys shares, they're betting their own money on outcomes they have direct visibility into.
At $2.1 million, this transaction stands out as a significant commitment. Trades of this size from corporate insiders typically attract attention from institutional investors and analysts who track Form 4 filings for early signals about company direction.
Insider transaction data is reported to the SEC via Form 4 filings, typically within two business days of the trade. Investors can track insider activity alongside other metrics — such as institutional flows, short interest, and technical indicators — to build a more complete picture of market sentiment around Royal Bank of Canada.