Northwestern Mutual Puts Hefty Bet on Royal Bank of Canada Stock

Northwestern Mutual Wealth Management Co. has acquired a new stake in Royal Bank of Canada (RY), valued at approximately $5,813,000.

The firm acquired 28,086 shares of RY's stock during the second quarter, according to its most recent SEC filing.

This is not an isolated incident; several other hedge funds have also modified their holdings of RY recently. Vanguard Group Inc., for example, increased its position in RY by 1.9% during the fourth quarter, now owning 67,628,463 shares valued at $11,529,165,000.

RY's stock has seen a significant increase in value over the past year, with a 12-month high of $218.57 and a current price of $204.86.