Bank Of Nova Scotia Trust Co buys $82.2 Million stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Bank Of Nova Scotia Trust Co scooped up 62,643 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 May 12, 2016. The investment management firm now holds a total of 1,384,747 shares of Royal Bank of Canada which is valued at $82.2 Million.Royal Bank of Canada makes up approximately 11.09% of Bank Of Nova Scotia Trust Co’s portfolio.

Other Hedge Funds, Including , Guardian Capital Lp boosted its stake in RY in the latest quarter, The investment management firm added 763,028 additional shares and now holds a total of 4,635,597 shares of Royal Bank of Canada which is valued at $275.2 Million. Royal Bank of Canada makes up approx 4.59% of Guardian Capital Lp’s portfolio.Wetherby Asset Management Inc boosted its stake in RY in the latest quarter, The investment management firm added 762 additional shares and now holds a total of 8,104 shares of Royal Bank of Canada which is valued at $481,134. Royal Bank of Canada makes up approx 0.11% of Wetherby Asset Management Inc’s portfolio.First Trust Advisors Lp boosted its stake in RY in the latest quarter, The investment management firm added 25,466 additional shares and now holds a total of 140,836 shares of Royal Bank of Canada which is valued at $8.4 Million. Royal Bank of Canada makes up approx 0.03% of First Trust Advisors Lp’s portfolio.

Royal Bank of Canada opened for trading at $59.39 and hit $59.67 on the upside on Friday, eventually ending the session at $59.34, with a gain of 0.29% or 0.17 points. The heightened volatility saw the trading volume jump to 7,26,307 shares. Company has a market cap of $88,222 M.

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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