Intact Investment Management buys $94,285,299 stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Intact Investment Management scooped up 85,800 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 15, 2016. The investment management firm now holds a total of 1,525,899 shares of Royal Bank of Canada which is valued at $94,285,299.Royal Bank of Canada makes up approximately 4.43% of Intact Investment Management’s portfolio.

Other Hedge Funds, Including , Aqr Capital Management reduced its stake in RY by selling 302,788 shares or 18.99% in the most recent quarter. The Hedge Fund company now holds 1,291,824 shares of RY which is valued at $79,821,805. Royal Bank of Canada makes up approx 0.14% of Aqr Capital Management’s portfolio.Sentry Investments Corp. boosted its stake in RY in the latest quarter, The investment management firm added 6,500 additional shares and now holds a total of 44,750 shares of Royal Bank of Canada which is valued at $2,765,103. Royal Bank of Canada makes up approx 0.04% of Sentry Investments Corp.’s portfolio.Wetherby Asset Management Inc boosted its stake in RY in the latest quarter, The investment management firm added 1,469 additional shares and now holds a total of 9,573 shares of Royal Bank of Canada which is valued at $591,516. Royal Bank of Canada makes up approx 0.13% of Wetherby Asset Management Inc’s portfolio.First Trust Advisors Lp boosted its stake in RY in the latest quarter, The investment management firm added 39,607 additional shares and now holds a total of 180,443 shares of Royal Bank of Canada which is valued at $10,882,517. Royal Bank of Canada makes up approx 0.03% of First Trust Advisors Lp’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in RY by selling 43,460 shares or 6.24% in the most recent quarter. The Hedge Fund company now holds 653,143 shares of RY which is valued at $39,377,991. Royal Bank of Canada makes up approx 0.50% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.

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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