Dorchester Wealth Management Co Lowers stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Dorchester Wealth Management Co reduced its stake in Royal Bank of Canada by 4.8% during the most recent quarter end. The investment management company now holds a total of 236,262 shares of Royal Bank of Canada which is valued at $14,856,155 after selling 11,908 shares in Royal Bank of Canada , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Royal Bank of Canada makes up approximately 5.61% of Dorchester Wealth Management Co’s portfolio.

Other Hedge Funds, Including , Investment Management Of Virginia boosted its stake in RY in the latest quarter, The investment management firm added 225 additional shares and now holds a total of 13,845 shares of Royal Bank of Canada which is valued at $866,974. Royal Bank of Canada makes up approx 0.22% of Investment Management Of Virginia’s portfolio.

Royal Bank of Canada opened for trading at $62.99 and hit $63.34 on the upside on Friday, eventually ending the session at $62.88, with a gain of 0.42% or 0.26 points. The heightened volatility saw the trading volume jump to 8,89,915 shares. Company has a market cap of $93,382 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.

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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