Manufacturers Life Insurance Company The Lowers stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Manufacturers Life Insurance Company The reduced its stake in Royal Bank of Canada by 1.21% during the most recent quarter end. The investment management company now holds a total of 10,992,884 shares of Royal Bank of Canada which is valued at $679,250,302 after selling 134,962 shares in Royal Bank of Canada , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Royal Bank of Canada makes up approximately 0.99% of Manufacturers Life Insurance Company The’s portfolio.

Other Hedge Funds, Including , Keybank National Associationoh boosted its stake in RY in the latest quarter, The investment management firm added 2,049 additional shares and now holds a total of 7,144 shares of Royal Bank of Canada which is valued at $441,428. Global X Management Co added RY to its portfolio by purchasing 416 company shares during the most recent quarter which is valued at $25,804.

Royal Bank of Canada opened for trading at $62.05 and hit $62.37 on the upside on Thursday, eventually ending the session at $62.28, with a gain of 0.26% or 0.16 points. The heightened volatility saw the trading volume jump to 10,82,881 shares. Company has a market cap of $92,491 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.

Investors should note that on Aug 24, 2016, Royal Bank of Canada announced a cash dividend of $0.8300. The company’s management has announced Oct 24, 2016 as the ex-dividend date and fixed the record date on Oct 26, 2016. The payable date has been fixed on Nov 24, 2016.

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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