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 6.19% during the most recent quarter end. The investment management company now holds a total of 4,055,257 shares of Royal Bank of Canada which is valued at $240.8 Million after selling 267,477 shares in Royal Bank of Canada , the firm said in a disclosure report filed with the SEC on May 12, 2016.Royal Bank of Canada makes up approximately 9.06% of Greystone Managed Investments’s portfolio.

Other Hedge Funds, Including , Jarislowsky Fraser Ltd reduced its stake in RY by selling 12,164 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 16,676,648 shares of RY which is valued at $990.1 Million. Royal Bank of Canada makes up approx 6.92% of Jarislowsky Fraser Ltd’s portfolio. Cls Investments sold out all of its stake in RY during the most recent quarter. The investment firm sold 4,084 shares of RY which is valued $242,467.Outfitter Advisors Ltd. reduced its stake in RY by selling 37,413 shares or 69.12% in the most recent quarter. The Hedge Fund company now holds 16,715 shares of RY which is valued at $1 Million. Royal Bank of Canada makes up approx 0.41% of Outfitter Advisors Ltd.’s portfolio.Candriam Luxembourg S.c.a. boosted its stake in RY in the latest quarter, The investment management firm added 11,780 additional shares and now holds a total of 99,338 shares of Royal Bank of Canada which is valued at $6.2 Million. Royal Bank of Canada makes up approx 0.15% of Candriam Luxembourg S.c.a.’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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