Acadian Asset Management buys $439,535,622 stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Acadian Asset Management scooped up 1,940 additional shares in Royal Bank of Canada during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 14, 2016. The investment management firm now holds a total of 7,274,671 shares of Royal Bank of Canada which is valued at $439,535,622.Royal Bank of Canada makes up approximately 2.21% of Acadian Asset Management’s portfolio.

Royal Bank of Canada opened for trading at $59.92 and hit $60.82 on the upside on Monday, eventually ending the session at $60.78, with a gain of 0.60% or 0.36 points. The heightened volatility saw the trading volume jump to 10,17,034 shares. Company has a market cap of $90,362 M.

Other Hedge Funds, Including , Simplex Trading boosted its stake in RY in the latest quarter, The investment management firm added 5,055 additional shares and now holds a total of 12,409 shares of Royal Bank of Canada which is valued at $749,752. Royal Bank of Canada makes up approx 0.12% of Simplex Trading’s portfolio.Independent Portfolio Consultants boosted its stake in RY in the latest quarter, The investment management firm added 565 additional shares and now holds a total of 10,107 shares of Royal Bank of Canada which is valued at $610,665. Royal Bank of Canada makes up approx 0.17% of Independent Portfolio Consultants’s portfolio.Creative Planning reduced its stake in RY by selling 1,030 shares or 0.64% in the most recent quarter. The Hedge Fund company now holds 160,391 shares of RY which is valued at $9,312,301. Royal Bank of Canada makes up approx 0.07% of Creative Planning’s portfolio.

On the company’s financial health, Royal Bank of Canada reported $1.58 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus of $1.67. The company had revenue of $9359.00 million for the quarter, compared to analysts expectations of $9492.31 million. The company’s revenue was down -3.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.65 EPS.

Many Wall Street Analysts have commented on Royal Bank of Canada. Royal Bank of Canada was Downgraded by TD Securities to ” Hold” on Mar 1, 2016.

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. It operates in five segments: Personal & Commercial Banking which operates comprises its personal and business banking operations as well as its auto financing and retail investment businesses; Wealth Management which comprises Canadian Wealth Management United States and International Wealth Management and Global Asset Management (GAM); Insurance which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services which is a provider of asset servicing custody payments and treasury services and Capital Markets which comprises two business lines: Corporate and Investment Banking and Global Markets. It operates in three geographic segments: Canada United States and Other International.

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