Westover Capital Advisors Lowers stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Westover Capital Advisors reduced its stake in Royal Bank of Canada by 2.27% during the most recent quarter end. The investment management company now holds a total of 52,814 shares of Royal Bank of Canada which is valued at $3,352,105 after selling 1,227 shares in Royal Bank of Canada , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Royal Bank of Canada makes up approximately 2.53% of Westover Capital Advisors’s portfolio.

Other Hedge Funds, Including , I.g. Investment Management Ltd. reduced its stake in RY by selling 291,383 shares or 0.95% in the most recent quarter. The Hedge Fund company now holds 30,484,490 shares of RY which is valued at $1,947,654,066. Royal Bank of Canada makes up approx 7.58% of I.g. Investment Management Ltd.’s portfolio.Schroder Investment Management Group reduced its stake in RY by selling 251,147 shares or 69.26% in the most recent quarter. The Hedge Fund company now holds 111,490 shares of RY which is valued at $7,030,559. Royal Bank of Canada makes up approx 0.01% of Schroder Investment Management Group’s portfolio.Ngam Advisors boosted its stake in RY in the latest quarter, The investment management firm added 1,312 additional shares and now holds a total of 23,267 shares of Royal Bank of Canada which is valued at $1,423,940. Royal Bank of Canada makes up approx 0.02% of Ngam Advisors’s portfolio.

Royal Bank of Canada opened for trading at $64.24 and hit $64.68 on the upside on Monday, eventually ending the session at $64.55, with a gain of 0.33% or 0.21 points. The heightened volatility saw the trading volume jump to 6,39,351 shares. Company has a market cap of $95,862 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 Initiated by BofA/Merrill to “Underperform” on Nov 1, 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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