Greystone Managed Investments Lowers stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Greystone Managed Investments reduced its stake in Royal Bank of Canada by 2.22% during the most recent quarter end. The investment management company now holds a total of 3,965,272 shares of Royal Bank of Canada which is valued at $240,652,358 after selling 89,985 shares in Royal Bank of Canada , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Royal Bank of Canada makes up approximately 9.41% of Greystone Managed Investments’s portfolio.

Other Hedge Funds, Including , Kayne Anderson Rudnick Investment Management boosted its stake in RY in the latest quarter, The investment management firm added 698 additional shares and now holds a total of 40,608 shares of Royal Bank of Canada which is valued at $2,464,500. Royal Bank of Canada makes up approx 0.04% of Kayne Anderson Rudnick Investment Management’s portfolio.Letko Brosseau Associates Inc reduced its stake in RY by selling 13,820 shares or 0.25% in the most recent quarter. The Hedge Fund company now holds 5,415,154 shares of RY which is valued at $326,587,938. Royal Bank of Canada makes up approx 3.00% of Letko Brosseau Associates Inc’s portfolio. Americafirst Capital Management added RY to its portfolio by purchasing 2,347 company shares during the most recent quarter which is valued at $145,256. Royal Bank of Canada makes up approx 0.10% of Americafirst Capital Management’s portfolio.

Royal Bank of Canada opened for trading at $62.08 and hit $62.56 on the upside on Wednesday, eventually ending the session at $62.47, with a gain of 0.42% or 0.26 points. The heightened volatility saw the trading volume jump to 7,65,177 shares. Company has a market cap of $92,969 M.

On the company’s financial health, Royal Bank of Canada reported $1.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 26, 2016. Analyst had a consensus of $1.64. The company had revenue of $9526.00 million for the quarter, compared to analysts expectations of $9510.53 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 EPS.

Many Wall Street Analysts have commented on Royal Bank of Canada. Royal Bank of Canada was Resumed by BofA/Merrill to “Underperform” on Jul 12, 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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