Letko Brosseau Associates Inc buys $322.3 Million stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Letko Brosseau Associates Inc scooped up 157,402 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 11, 2016. The investment management firm now holds a total of 5,428,974 shares of Royal Bank of Canada which is valued at $322.3 Million.Royal Bank of Canada makes up approximately 3.17% of Letko Brosseau Associates Inc’s portfolio.

Other Hedge Funds, Including , Trexquant Investment Lp sold out all of its stake in RY during the most recent quarter. The investment firm sold 41,200 shares of RY which is valued $2.4 Million.First Trust Advisors Lp boosted its stake in RY in the latest quarter, The investment management firm added 25,466 additional shares and now holds a total of 140,836 shares of Royal Bank of Canada which is valued at $8.4 Million. Royal Bank of Canada makes up approx 0.03% of First Trust Advisors Lp’s portfolio. Stephens Inc Ar added RY to its portfolio by purchasing 12,775 company shares during the most recent quarter which is valued at $753,086. Royal Bank of Canada makes up approx 0.04% of Stephens Inc Ar’s portfolio.

Royal Bank of Canada opened for trading at $59.5 and hit $60.12 on the upside on Monday, eventually ending the session at $59.76, with a gain of 0.66% or 0.39 points. The heightened volatility saw the trading volume jump to 7,27,112 shares. Company has a market cap of $88,846 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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