Merck's Institutional Investor Stake Reaches New Heights
The Manufacturers Life Insurance Company has significantly increased its investment in Merck & Co., Inc. (NYSE:MRK) by 12.3% during the second quarter, according to a recent filing with the Securities and Exchange Commission.
The company now owns approximately 2,073,176 shares of Merck's stock worth $266,403,000, making it one of the largest institutional investors in the firm.
In addition to this increase, other institutional investors have also boosted their stakes in MRK. Round Rock Advisors LLC increased its holdings by 0.7% and Cascade Financial Partners LLC raised its position by 0.5%, while Somerset Trust Co and Stonebridge Financial Group LLC both added to their positions.
The company's stock has a market capitalization of $356.96 billion, with 76.07% owned by institutional investors and hedge funds.