RBC Sees Boost from Institutional Investors Amid Record Earnings

Equitable Holdings Inc. has acquired a new stake in Royal Bank Of Canada (NYSE:RY), purchasing 10,692 shares of the financial services provider's stock worth approximately $2,213,000 in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission.

The institutional investor is not alone in increasing its stake in RBC. Other hedge funds have also recently added to or reduced their stakes in the company, including Centaurus Financial Inc., Public Employees Retirement System of Ohio, and Pure Financial Advisors LLC.

Royal Bank Of Canada has reported record quarterly results, beating expectations with third-quarter net income of C$6.02 billion, or C$4.23 per share, up from C$5.41 billion and C$3.75 per share a year earlier.