Jones Collombin Investment Counsel Inc Lowers stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Jones Collombin Investment Counsel Inc reduced its stake in Royal Bank of Canada by 19.43% during the most recent quarter end. The investment management company now holds a total of 278,967 shares of Royal Bank of Canada which is valued at $17,329,430 after selling 67,260 shares in Royal Bank of Canada , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Royal Bank of Canada makes up approximately 4.78% of Jones Collombin Investment Counsel Inc’s portfolio.

Royal Bank of Canada closed down -0.15 points or -0.24% at $61.97 with 5,96,500 shares getting traded on Monday. Post opening the session at $62.31, the shares hit an intraday low of $61.66 and an intraday high of $62.39 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Delta Asset Managementtn reduced its stake in RY by selling 20 shares or 6.56% in the most recent quarter. The Hedge Fund company now holds 285 shares of RY which is valued at $17,704.Advisory Services Network boosted its stake in RY in the latest quarter, The investment management firm added 3 additional shares and now holds a total of 554 shares of Royal Bank of Canada which is valued at $33,938. Royal Bank of Canada makes up approx 0.01% of Advisory Services Network’s portfolio.Alta Capital Management boosted its stake in RY in the latest quarter, The investment management firm added 714 additional shares and now holds a total of 19,719 shares of Royal Bank of Canada which is valued at $1,207,986. Royal Bank of Canada makes up approx 0.07% of Alta Capital Management’s portfolio.Central Trust Co reduced its stake in RY by selling 350 shares or 8.14% in the most recent quarter. The Hedge Fund company now holds 3,950 shares of RY which is valued at $238,659. Royal Bank of Canada makes up approx 0.02% of Central Trust Co’s portfolio.

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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