RBC Bets Big on United Airlines With Additional Stake Purchase
Royal Bank of Canada (RBC) has increased its stake in United Airlines Holdings Inc. (NASDAQ:UAL), buying an additional 42,111 shares during the first quarter. This represents a 11.2% increase in RBC's position, bringing its total holdings to 418,647 shares.
The value of these shares is approximately $38.5 million as of RBC's most recent SEC filing. United Airlines' stock price opened at $128.39 on Tuesday, with a market capitalization of $41.67 billion and a PE ratio of 12.01.
RBC is not the only institutional investor to increase its stake in United Airlines. Other notable investors include Norges Bank, which acquired a new position worth approximately $234 million in the fourth quarter; AQR Capital Management LLC, which increased its position by 56.8% during the same period; and Nuveen LLC, which raised its stake by 90.5%.