Bank of New York Mellon Corp Boosts Stake in Royal Bank Of Canada

Bank of New York Mellon Corp has increased its stake in Royal Bank Of Canada (RY) by purchasing 1,358,029 shares during the second quarter. This move valued at approximately $281,071,000 brings the institutional investor's ownership in RY to about 0.10%. The company provides a range of financial services, including personal and commercial banking, wealth management, insurance, and capital markets.

The purchase is part of a larger trend where several large investors have been adding to or increasing their stakes in Royal Bank Of Canada. Norges Bank bought a new stake valued at about $3,472,382,000 in the fourth quarter, while Alberta Investment Management Corp purchased a new position worth about $324,237,000.

Other notable investors include Assenagon Asset Management S.A., which boosted its stake by 3,329.9% during the second quarter, and Vanguard Group Inc., which increased its holdings by 1.9% in the fourth quarter. Geode Capital Management LLC also grew its stake by 6.9% in the same period.

Royal Bank Of Canada has a market cap of $284.06 billion, with a P/E ratio of 18.41 and a beta of 0.80. The company's quarterly earnings results showed $2.84 EPS, beating analysts' consensus estimates by $0.03. As for dividend payouts, Royal Bank Of Canada recently announced a quarterly dividend of $1.76 per share, representing a yield of 3.4%.