Royal Bank Of Canada (RY) Shareholder Connor Clark & Lunn Investment Management LTD Decreased Its Position

July 16, 2018 - By Pearl Odom

Connor Clark & Lunn Investment Management Ltd decreased its stake in Royal Bank Of Canada (RY) by 1.14% based on its latest 2018Q1 regulatory filing with the SEC. Connor Clark & Lunn Investment Management Ltd sold 169,975 shares as the company’s stock declined 6.00% with the market. The institutional investor held 14.74M shares of the commercial banks company at the end of 2018Q1, valued at $1.14 billion, down from 14.91 million at the end of the previous reported quarter. Connor Clark & Lunn Investment Management Ltd who had been investing in Royal Bank Of Canada for a number of months, seems to be less bullish one the $113.27 billion market cap company. The stock increased 0.78% or $0.6 during the last trading session, reaching $77.7. About 241,518 shares traded. Royal Bank of Canada (NYSE:RY) has risen 9.18% since July 16, 2017 and is uptrending. It has underperformed by 3.39% the S&P500.

Connor Clark & Lunn Investment Management Ltd, which manages about $26.75B and $16.52 billion US Long portfolio, upped its stake in Delek Us Holdings Inc by 210,525 shares to 321,775 shares, valued at $13.10 million in 2018Q1, according to the filing. It also increased its holding in Skyworks Solutions Inc (NASDAQ:SWKS) by 113,975 shares in the quarter, for a total of 120,500 shares, and has risen its stake in Citigroup Inc. (NYSE:C).

Analysts await Royal Bank of Canada (NYSE:RY) to report earnings on August, 22. They expect $1.62 EPS, up 14.89 % or $0.21 from last year’s $1.41 per share. RY’s profit will be $2.36 billion for 11.99 P/E if the $1.62 EPS becomes a reality. After $1.65 actual EPS reported by Royal Bank of Canada for the previous quarter, Wall Street now forecasts -1.82 % negative EPS growth.

More news for Royal Bank of Canada (NYSE:RY) were recently published by: Fool.ca, which released: “Is Royal Bank of Canada (TSX:RY) or Canadian National Railway Company (TSX:CNR) Better for Your RRSP?” on July 16, 2018. Fool.ca‘s article titled: “5 Top Canadian Blue-Chip Stocks to Buy and Hold” and published on July 15, 2018 is yet another important article.

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