1832 Asset Management Lowers stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : 1832 Asset Management reduced its stake in Royal Bank of Canada by 9.23% during the most recent quarter end. The investment management company now holds a total of 16,403,216 shares of Royal Bank of Canada which is valued at $1,013,554,717 after selling 1,667,600 shares in Royal Bank of Canada , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Royal Bank of Canada makes up approximately 3.79% of 1832 Asset Management’s portfolio.

Other Hedge Funds, Including , Cambridge Investment Research Advisors boosted its stake in RY in the latest quarter, The investment management firm added 2,018 additional shares and now holds a total of 14,491 shares of Royal Bank of Canada which is valued at $873,952. Royal Bank of Canada makes up approx 0.02% of Cambridge Investment Research Advisors’s portfolio.Argent Trust Co reduced its stake in RY by selling 1,844 shares or 20.6% in the most recent quarter. The Hedge Fund company now holds 7,109 shares of RY which is valued at $428,744. Royal Bank of Canada makes up approx 0.18% of Argent Trust Co’s portfolio.

Royal Bank of Canada opened for trading at $62.67 and hit $63.04 on the upside on Monday, eventually ending the session at $62.79, with a gain of 0.05% or 0.03 points. The heightened volatility saw the trading volume jump to 9,01,935 shares. Company has a market cap of $93,248 M.

On the company’s financial health, Royal Bank of Canada reported $1.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 24, 2016. Analyst had a consensus of $1.70.Analysts expectations of $ 9776.41.During the same quarter in the previous year, the company posted $1.66 EPS.

Many Wall Street Analysts have commented on Royal Bank of Canada. Royal Bank of Canada was Resumed by BofA/Merrill to “Underperform” on Jul 12, 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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