Bank of Montreal Updates RBC Stake: 77.1M Shares Sole Voting Power

TL;DR

**Bank of Montreal just updated its massive stake in Royal Bank of Canada, holding over 77 million shares.**

AI Summary

Bank of Montreal filed an amended Schedule 13G/A on February 9, 2024, disclosing its beneficial ownership in Royal Bank of Canada as of December 31, 2023. The filing indicates Bank of Montreal holds sole voting power over 77,186,948 common shares and sole dispositive power over 77,294,342 common shares of Royal Bank of Canada. This matters to investors because it shows a significant institutional holder's updated position, which can influence market perception and liquidity for Royal Bank of Canada stock.

Why It Matters

This filing reveals Bank of Montreal's substantial, updated ownership in Royal Bank of Canada, signaling its continued confidence or strategic positioning in a major competitor.

Risk Assessment

Risk Level: low — This is a routine update from a large institutional investor and does not indicate any immediate significant risk.

Analyst Insight

Investors should note Bank of Montreal's continued substantial, albeit passive, ownership in Royal Bank of Canada, which suggests a long-term institutional interest without indicating any immediate strategic shifts.

Key Numbers

• 77,186,948 — Sole Voting Power Shares (Represents the number of Royal Bank of Canada common shares Bank of Montreal can vote.)
• 77,294,342 — Sole Dispositive Power Shares (Represents the number of Royal Bank of Canada common shares Bank of Montreal can sell.)

Key Players & Entities

• Bank of Montreal (company) — the reporting person and beneficial owner
• Royal Bank of Canada (company) — the issuer of the securities
• 77,186,948 (dollar_amount) — number of shares with sole voting power
• 77,294,342 (dollar_amount) — number of shares with sole dispositive power
• December 31, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• Bank of Montreal will maintain a significant stake in Royal Bank of Canada for the foreseeable future. (Bank of Montreal) — high confidence, target: December 31, 2024

FAQ

Filing Documents

• rya1_20824.htm (SC 13G/A) — 116KB
• 0001085146-24-000930.txt ( ) — 117KB

(a)

ITEM 1(a). NAME OF ISSUER: Royal Bank of Canada

(b)

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 9th Floor, South Tower Royal Bank Plaza 200 Bay Street, Toronto, CA-ON, M5J 2J5, CA

(a)

ITEM 2(a). NAME OF PERSON FILING: BANK OF MONTREAL BANK OF MONTREAL HOLDING INC. BMO NESBITT BURNS INC. WEALTH MANAGEMENT BMO NESBITT BURNS SECURITIES LTD. BMO PRIVATE INVESTMENT COUNSEL INC. BMO ASSET MANAGEMENT INC. BMO ASSET MANAGEMENT INC. BMO FINANCIAL CORP. BMO BANK N.A. BMO FAMILY OFFICE, LLC STOKER OSTLER WEALTH ADVISORS, INC. BANK OF MONTREAL EUROPE PUBLIC LIMITED COMPANY BANK OF MONTREAL, TORONTO BRANCH

(b)

ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 1 PLACE Ville Marie, Montreal, CA-QC, H3B 3A9, CA

(c)

ITEM 2(c). CITIZENSHIP: Canada Canada Canada Canada Canada Canada Canada United States United States United States United States Ireland Canada

(d)

ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Shares

(e)

ITEM 2(e). CUSIP NUMBER: 780087102 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [X] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [X] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) [X] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: ITEM 4. (a) Amount beneficially owned: 77,294,342 (b) Percent of class: 5.5% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: 77,186,948~62,894,518~39,761,777~27,384,277~23,466,324~23,466,324~11,278~10,733~545~415,688~13,865,464 (ii) shared power to vote or to direct the vote: (iii) sole power to dispose or direct the disposition of: BANK OF MONTREAL - 77,294,342 BANK OF MONTREAL HOLDING INC. - 62,999,695 BMO NESBITT BURNS INC. WEALTH MANAGEMENT - 39,866,954 BMO NESBITT BURNS SECURITIES LTD. - 105,177 BMO PRIVATE INVESTMENT COUNSEL INC. - 27,384,277 BMO ASSET MANAGEME

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View this SC 13G/A filing on SEC EDGAR