CDPQ Invests $360 Million in Royal Bank of Canada

Caisse de depot et placement du Quebec (CDPQ) has acquired a significant stake in Royal Bank of Canada (RY), investing $360.37 million in shares. The CDPQ purchased 1,740,913 shares of RY's stock in the second quarter.

This is not the only major institutional investor to have increased its holdings in RY recently. HighTower Advisors LLC and Fisher Asset Management LLC also increased their stakes in the bank by 18.5% and 6.1%, respectively.

The market capitalization of Royal Bank of Canada is $287.36 billion, with a price-to-earnings ratio of 18.62 and a PEG ratio of 1.53. The company's stock has a beta of 0.80, indicating lower volatility compared to the overall market.