Royal Bank of Canada Sees Increased Institutional Ownership

First Trust Advisors LP increased its stake in Royal Bank of Canada by 10.1% during the first quarter, according to the firm's most recent 13F filing with the Securities and Exchange Commission (SEC). The company now owns 331,050 shares of the financial services provider's stock, worth $53,544,000 at the end of the reporting period.

Vanguard Group Inc. also raised its holdings in Royal Bank of Canada by 1.9% during the fourth quarter, owning a total of 67,628,463 shares valued at $11,529,165,000. Other large investors, including FIL Ltd and Norges Bank, increased their stakes in the company as well.

The financial services provider reported earnings of $2.84 per share for the most recent quarter, exceeding analysts' expectations of $2.81 per share. Royal Bank of Canada's revenue was up 11.4% year-over-year, reaching $12.84 billion during the period.