Beutel Goodman & Co LTD Lowered Position in Royal Bank Cda (RY) as Stock Price Declined

December 15, 2017 - By Stephen Andrade

Beutel Goodman & Co Ltd decreased its stake in Royal Bank Cda (RY) by 1.65% based on its latest 2017Q2 regulatory filing with the SEC. Beutel Goodman & Co Ltd sold 310,065 shares as the company’s stock declined 9.02% while stock markets rallied. The institutional investor held 18.51M shares of the commercial banks company at the end of 2017Q2, valued at $1.34B, down from 18.82 million at the end of the previous reported quarter. Beutel Goodman & Co Ltd who had been investing in Royal Bank Cda for a number of months, seems to be less bullish one the $117.03 billion market cap company. The stock decreased 0.01% or $0.005 during the last trading session, reaching $79.545. About 41,942 shares traded. Royal Bank of Canada (NYSE:RY) has risen 16.29% since December 15, 2016 and is uptrending. It has underperformed by 0.41% the S&P500.

Beutel Goodman & Co Ltd, which manages about $36.47 billion and $11.03 billion US Long portfolio, upped its stake in Verizon Communicatio (NYSE:VZ) by 981,409 shares to 5.34M shares, valued at $183.69 million in 2017Q2, according to the filing. It also increased its holding in Parker Hannifin Corp (NYSE:PH) by 75,216 shares in the quarter, for a total of 1.26 million shares, and has risen its stake in American Express Co (NYSE:AXP).

More notable recent Royal Bank of Canada (NYSE:RY) news were published by: Investorplace.com which released: “Royal Bank of Canada (RY) a Buy on Robust Quant Score” on December 12, 2017, also Cbc.ca with their article: “Royal Bank deemed ‘too big to fail’ by global banking watchdog” published on November 21, 2017, Wsj.com published: “Royal Bank of Canada Beats Estimates, But Tech Spending Weighs on Results” on November 29, 2017. More interesting news about Royal Bank of Canada (NYSE:RY) were released by: Nasdaq.com and their article: “Is Royal Bank of Canada (RY) Stock a Good Value Pick Now?” published on December 08, 2017 as well as Bloomberg.com‘s news article titled: “RBC Posts Record Annual Profit While Cutting Corporate Loans” with publication date: November 29, 2017.

Royal Bank of Canada (NYSE:RY) Ratings Coverage

Among 11 analysts covering Royal Bank Of Canada (NYSE:RY), 4 have Buy rating, 2 Sell and 5 Hold. Therefore 36% are positive. Royal Bank Of Canada has $95 highest and $69 lowest target. $79.25’s average target is -0.37% below currents $79.545 stock price. Royal Bank Of Canada had 18 analyst reports since August 4, 2015 according to SRatingsIntel. Zacks downgraded the shares of RY in report on Saturday, August 22 to “Hold” rating. The firm has “Buy” rating by Argus Research given on Thursday, August 25. The rating was maintained by Argus Research with “Buy” on Monday, December 12. The firm has “Mkt Perform” rating by Keefe Bruyette & Woods given on Monday, February 27. The firm has “Buy” rating given on Thursday, August 27 by Bank of America. On Thursday, December 1 the stock rating was downgraded by Rafferty to “Hold”. On Friday, July 1 the stock rating was initiated by Argus Research with “Buy”. The stock of Royal Bank of Canada (NYSE:RY) earned “Hold” rating by TD Securities on Monday, April 3. The company was maintained on Monday, August 15 by Citigroup. The stock of Royal Bank of Canada (NYSE:RY) has “Buy” rating given on Monday, November 21 by TD Securities.

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