Addenda Capital buys $77,254,122 stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Addenda Capital scooped up 469,695 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 Aug 10, 2016. The investment management firm now holds a total of 1,250,269 shares of Royal Bank of Canada which is valued at $77,254,122.Royal Bank of Canada makes up approximately 6.07% of Addenda Capital’s portfolio.

Other Hedge Funds, Including , Massmutual Trust Co Fsbadv reduced its stake in RY by selling 438 shares or 90.12% in the most recent quarter. The Hedge Fund company now holds 48 shares of RY which is valued at $2,966.Her Majesty The Queen In Right Of The Province Of Alberta… boosted its stake in RY in the latest quarter, The investment management firm added 458,400 additional shares and now holds a total of 2,061,287 shares of Royal Bank of Canada which is valued at $124,274,993. Royal Bank of Canada makes up approx 1.56% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio.Jolley Asset Management boosted its stake in RY in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 2,400 shares of Royal Bank of Canada which is valued at $145,392. Royal Bank of Canada makes up approx 0.11% of Jolley Asset Management’s portfolio.

Royal Bank of Canada opened for trading at $62.39 and hit $63 on the upside on Friday, eventually ending the session at $62.92, with a gain of 0.29% or 0.18 points. The heightened volatility saw the trading volume jump to 8,05,447 shares. Company has a market cap of $93,639 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.

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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