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RBC Stake Boosted by $2.3B Investment from The Manufacturers Life Insurance Company

Guavy AI Editorial Team
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The Manufacturers Life Insurance Company has acquired a significant stake in Royal Bank of Canada (RY), purchasing 11,113,364 shares valued at approximately $2.296 billion.

This represents about 1.8% of The Manufacturers Life Insurance Company's investment portfolio and makes Royal Bank Of Canada its eighth largest position.

The company had revenue of $12.84 billion for the quarter, exceeding analyst estimates of $12.74 billion by $100 million.

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