Forex

Royal Bank of Canada Sells $639 Million Worth of BlackRock Shares

Guavy AI Editorial Team Published July 29, 2026

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CAD

Royal Bank of Canada has reduced its stake in BlackRock (NYSE: BLK) by selling 567,531 shares in the first quarter. The bank now owns approximately 665,214 shares, which is a 46% decrease from the previous period.

The value of Royal Bank of Canada's holdings in BlackRock is $639.74 million, accounting for about 0.43% of the asset manager's stock. This reduction in stake may be a strategic move by the bank to diversify its portfolio or adjust to changing market conditions.

BlackRock has seen significant growth in recent quarters, with revenue up 30.6% year-over-year and earnings per share beating analysts' estimates. The company's ability to attract institutional capital and scale its global infrastructure platforms is a key driver of this success.

Royal Bank of Canada Sells $639 Million Worth of BlackRock Shares

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