OMERS Administration Corp Buys $430 Million Stake in Royal Bank of Canada

OMERS Administration Corp has acquired a new position in Royal Bank of Canada (RBC), purchasing approximately $430.7 million worth of shares in the second quarter.

The investment firm purchased 2,080,487 shares of RBC's stock, accounting for around 2.6% of its total portfolio and making it the company's seventh-largest holding.

RBC reported earnings per share (EPS) of $2.84 in Q1, surpassing analysts' estimates, with revenue up 11.4% year-over-year to $12.84 billion.