I.g. Investment Management Ltd. Lowers stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : I.g. Investment Management Ltd. reduced its stake in Royal Bank of Canada by 0.61% during the most recent quarter end. The investment management company now holds a total of 31,427,210 shares of Royal Bank of Canada which is valued at $1,865.8 Million after selling 193,470 shares in Royal Bank of Canada , the firm said in a disclosure report filed with the SEC on May 13, 2016.Royal Bank of Canada makes up approximately 7.49% of I.g. Investment Management Ltd.’s portfolio.

Other Hedge Funds, Including , Saturna Capital Corp sold out all of its stake in RY during the most recent quarter. The investment firm sold 193 shares of RY which is valued $11,458.Wfg Advisors Lp reduced its stake in RY by selling 102 shares or 12.42% in the most recent quarter. The Hedge Fund company now holds 719 shares of RY which is valued at $42,687. Royal Bank of Canada makes up approx 0.01% of Wfg Advisors Lp’s portfolio.Cibc World Markets boosted its stake in RY in the latest quarter, The investment management firm added 48,821 additional shares and now holds a total of 57,763,039 shares of Royal Bank of Canada which is valued at $3,405.1 Million. Royal Bank of Canada makes up approx 15.63% of Cibc World Markets’s portfolio.

Royal Bank of Canada opened for trading at $60.12 and hit $61.17 on the upside on Wednesday, eventually ending the session at $60.89, with a gain of 1.93% or 1.15 points. The heightened volatility saw the trading volume jump to 11,80,747 shares. Company has a market cap of $90,526 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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