Guardian Capital Lp buys $275.2 Million stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Guardian Capital Lp scooped up 763,028 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 4,635,597 shares of Royal Bank of Canada which is valued at $275.2 Million.Royal Bank of Canada makes up approximately 4.59% of Guardian Capital Lp’s portfolio.

Other Hedge Funds, Including , Massachusetts Financial Services Co boosted its stake in RY in the latest quarter, The investment management firm added 95,486 additional shares and now holds a total of 3,884,153 shares of Royal Bank of Canada which is valued at $230.6 Million. Royal Bank of Canada makes up approx 0.12% of Massachusetts Financial Services Co’s portfolio. Kernodle Katon Asset Management Group sold out all of its stake in RY during the most recent quarter. The investment firm sold 1,624 shares of RY which is valued $96,417.Burgundy Asset Management Ltd. reduced its stake in RY by selling 210,560 shares or 6.81% in the most recent quarter. The Hedge Fund company now holds 2,883,380 shares of RY which is valued at $171.2 Million. Royal Bank of Canada makes up approx 1.79% of Burgundy Asset Management Ltd.’s portfolio. Spc Financial sold out all of its stake in RY during the most recent quarter. The investment firm sold 4,100 shares of RY which is valued $241,695.Klingenstein Fields Co reduced its stake in RY by selling 2,200 shares or 23.89% in the most recent quarter. The Hedge Fund company now holds 7,010 shares of RY which is valued at $413,240. Royal Bank of Canada makes up approx 0.02% of Klingenstein Fields Co’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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