Royal Bank Of Canada (RY) Shareholder Highstreet Asset Management INC Lowered Holding as Market Valuation Declined

September 8, 2018 - By Mary Kidd

Highstreet Asset Management Inc decreased its stake in Royal Bank Of Canada (RY) by 9.43% based on its latest 2018Q1 regulatory filing with the SEC. Highstreet Asset Management Inc sold 128,228 shares as the company’s stock declined 6.00% with the market. The institutional investor held 1.23M shares of the commercial banks company at the end of 2018Q1, valued at $95.11 million, down from 1.36M at the end of the previous reported quarter. Highstreet Asset Management Inc who had been investing in Royal Bank Of Canada for a number of months, seems to be less bullish one the $114.17 billion market cap company. The stock decreased 0.69% or $0.55 during the last trading session, reaching $78.61. About 474,252 shares traded. Royal Bank of Canada (NYSE:RY) has risen 9.18% since September 8, 2017 and is uptrending. It has underperformed by 3.39% the S&P500.

Highstreet Asset Management Inc, which manages about $1.53 billion US Long portfolio, upped its stake in Pembina Pipeline Corp. (NYSE:PBA) by 481,333 shares to 1.04 million shares, valued at $32.45M in 2018Q1, according to the filing. It also increased its holding in Canadian Natural Resources Ltd. (NYSE:CNQ) by 355,927 shares in the quarter, for a total of 663,159 shares, and has risen its stake in Fortis Inc. (FRTSF).

Analysts await Royal Bank of Canada (NYSE:RY) to report earnings on December, 5. They expect $1.64 EPS, up 6.49 % or $0.10 from last year’s $1.54 per share. RY’s profit will be $2.38 billion for 11.98 P/E if the $1.64 EPS becomes a reality. After $1.66 actual EPS reported by Royal Bank of Canada for the previous quarter, Wall Street now forecasts -1.20 % negative EPS growth.

More notable recent Royal Bank of Canada (NYSE:RY) news were published by: Seekingalpha.com which released: “Royal Bank of Canada (RY) Management Presents at Scotiabank Financials Summit Conference (Transcript)” on September 05, 2018, also Seekingalpha.com with their article: “Royal Bank of Canada (RY) CEO Dave McKay on Q3 2018 Results – Earnings Call Transcript” published on August 22, 2018, Fool.ca published: “Why the Canadian Banks Are Poised to Reach All-time Highs After This Earnings Season” on September 02, 2018. More interesting news about Royal Bank of Canada (NYSE:RY) were released by: Seekingalpha.com and their article: “Royal Bank Of Canada: Outstanding Quarter – Expect More” published on August 25, 2018 as well as Fool.ca‘s news article titled: “Moody’s Just Revised its Outlook on the Canadian Banking System: Here’s What You Need to Know” with publication date: September 07, 2018.

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