Stocks
Manufacturers Life Insurance Company Sells Some IBM Holdings
The Manufacturers Life Insurance Company has reduced its stake in International Business Machines Corporation (IBM) by 5.5% in the second quarter, according to a recent SEC filing.
The company now owns 627,060 shares of IBM's stock, valued at $176,336,000, representing 0.07% of the technology company's outstanding shares.
This move is part of a broader trend among institutional investors, with Assetmark Inc. increasing its stake in IBM by 24.8% in the first quarter and Rice Partnership LLC buying a new position in the fourth quarter worth $3,317,000.