Highstreet Asset Management INC Upped Its Stake in Royal Bank Of Canada (RY) by $39.82 Million as Share Price Declined

May 22, 2018 - By Maria Brooks

Highstreet Asset Management Inc increased its stake in Royal Bank Of Canada (RY) by 56.65% based on its latest 2017Q4 regulatory filing with the SEC. Highstreet Asset Management Inc bought 491,621 shares as the company’s stock declined 4.81% with the market. The institutional investor held 1.36M shares of the commercial banks company at the end of 2017Q4, valued at $111.01M, up from 867,803 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 bullish on the $114.83 billion market cap company. The stock increased 0.98% or $0.77 during the last trading session, reaching $79.48. About 434,288 shares traded. Royal Bank of Canada (NYSE:RY) has risen 5.90% since May 22, 2017 and is uptrending. It has underperformed by 5.65% the S&P500.

Highstreet Asset Management Inc, which manages about $1.69 billion US Long portfolio, decreased its stake in Magna International Inc. (NYSE:MGA) by 164,974 shares to 1,636 shares, valued at $93,000 in 2017Q4, according to the filing.

More notable recent Royal Bank of Canada (NYSE:RY) news were published by: Fool.ca which released: “4 Positive Developments for Blockchain Tech and Cryptocurrencies in 2018” on May 20, 2018, also Fool.ca with their article: “Will Millennial Stock Choices Reshape the TSX?” published on May 22, 2018, Fool.ca published: “2 Dividend-Growth Stocks Perfect to Boost Your Retirement Income” on May 13, 2018. More interesting news about Royal Bank of Canada (NYSE:RY) were released by: Fool.ca and their article: “Here Is Why You Should Bet on These 2 Dividend Stocks in May” published on May 16, 2018 as well as Fool.ca‘s news article titled: “3 Stocks for Millennials to Target This Spring” with publication date: May 18, 2018.

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