Cibc Asset Management Inc Lowers stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Cibc Asset Management Inc reduced its stake in Royal Bank of Canada by 0.81% during the most recent quarter end. The investment management company now holds a total of 15,906,124 shares of Royal Bank of Canada which is valued at $944,346,582 after selling 129,823 shares in Royal Bank of Canada , the firm said in a disclosure report filed with the SEC on May 9, 2016.Royal Bank of Canada makes up approximately 7.01% of Cibc Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Smithfield Trust Co boosted its stake in RY in the latest quarter, The investment management firm added 51 additional shares and now holds a total of 1,379 shares of Royal Bank of Canada which is valued at $81,292. Royal Bank of Canada makes up approx 0.02% of Smithfield Trust Co’s portfolio.Quadrant Capital Group boosted its stake in RY in the latest quarter, The investment management firm added 549 additional shares and now holds a total of 1,063 shares of Royal Bank of Canada which is valued at $66,034. Royal Bank of Canada makes up approx 0.04% of Quadrant Capital Group’s portfolio.Wade G W Inc boosted its stake in RY in the latest quarter, The investment management firm added 9,876 additional shares and now holds a total of 72,582 shares of Royal Bank of Canada which is valued at $4,508,794. Royal Bank of Canada makes up approx 0.87% of Wade G W Inc’s portfolio.

Royal Bank of Canada closed down -0.6 points or -1.00% at $59.37 with 9,14,842 shares getting traded on Friday. Post opening the session at $59.69, the shares hit an intraday low of $59.0837 and an intraday high of $60 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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