Fri Sep 20 12:10:48 UTC 2024: ## Skandinaviska Enskilda Banken Reduces Stake in Royal Bank of Canada

**Toronto, Canada – September 20, 2024** – Skandinaviska Enskilda Banken AB publ (SEB) has reduced its stake in Royal Bank of Canada (RY) by 4% during the second quarter, according to HoldingsChannel.com. The Swedish investment bank now owns 342,360 shares of the Canadian financial services provider, valued at $36.4 million.

This move follows a trend of mixed activity from other institutional investors. While some, like Ridgewood Investments LLC, Ashton Thomas Private Wealth LLC, and Mather Group LLC, initiated new positions in RY during recent quarters, others, such as Nisa Investment Advisors LLC, boosted their holdings. Overall, institutional investors own 45.31% of RY’s outstanding shares.

Analysts remain largely optimistic about RY’s future. UBS Group initiated coverage on the stock with a “buy” rating in July, while BMO Capital Markets and Argus both raised their price targets in recent months. However, StockNews.com downgraded the stock to a “sell” rating in July. The consensus rating on RY is currently “Moderate Buy” with a target price of $142.50.

RY’s stock opened at $123.05 on Friday, September 20th, with a 52-week low of $77.90 and a 52-week high of $124.46. The company’s dividend payout ratio is currently 51.49%, with a quarterly dividend of $1.028 payable on November 22nd.

Royal Bank of Canada operates globally as a diversified financial services company, providing banking, investment, and insurance services. The company’s personal and commercial banking segment offers a wide range of products and services including checking and savings accounts, home equity financing, and lending services to individuals and businesses.

For a comprehensive view of institutional holdings and insider trading activity for Royal Bank of Canada, visit HoldingsChannel.com.

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