Nexus Investment Management buys $27,208,784 stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Nexus Investment Management scooped up 2,100 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 Jul 6, 2016. The investment management firm now holds a total of 458,369 shares of Royal Bank of Canada which is valued at $27,208,784.Royal Bank of Canada makes up approximately 5.11% of Nexus Investment Management’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in RY by selling 2,282 shares or 26.95% in the most recent quarter. The Hedge Fund company now holds 6,184 shares of RY which is valued at $367,082.

Royal Bank of Canada opened for trading at $59.78 and hit $59.97 on the upside on Monday, eventually ending the session at $59.56, with a gain of 0.34% or 0.2 points. The heightened volatility saw the trading volume jump to 9,24,499 shares. Company has a market cap of $88,638 M.

On the company’s financial health, Royal Bank of Canada reported $1.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 26, 2016. Analyst had a consensus of $1.64. The company had revenue of $9526.00 million for the quarter, compared to analysts expectations of $9510.53 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 EPS.

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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