O’shaughnessy Asset Management Lowers stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : O’shaughnessy Asset Management reduced its stake in Royal Bank of Canada by 3.42% during the most recent quarter end. The investment management company now holds a total of 1,029,723 shares of Royal Bank of Canada which is valued at $63,626,584 after selling 36,470 shares in Royal Bank of Canada , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Royal Bank of Canada makes up approximately 1.47% of O’shaughnessy Asset Management’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. M&r Capital Management Inc added RY to its portfolio by purchasing 203 company shares during the most recent quarter which is valued at $12,543.Great West Life Assurance Co Can reduced its stake in RY by selling 113,076 shares or 0.79% in the most recent quarter. The Hedge Fund company now holds 14,246,575 shares of RY which is valued at $858,926,007. Royal Bank of Canada makes up approx 2.51% of Great West Life Assurance Co Can’s portfolio.

Royal Bank of Canada opened for trading at $62.99 and hit $63.78 on the upside on Tuesday, eventually ending the session at $63.6, with a gain of 1.66% or 1.04 points. The heightened volatility saw the trading volume jump to 16,12,510 shares. Company has a market cap of $94,651 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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