Royal London Boosts Stake in Merck & Co., Inc.
Royal London Asset Management Ltd. has increased its stake in Merck & Co., Inc. (NYSE:MRK) by 3.1% during the second quarter, according to a recent disclosure with the Securities and Exchange Commission (SEC). The firm now owns 2,987,037 shares of the company's stock after acquiring an additional 90,883 shares.
Merck & Co., Inc. comprises about 0.7% of Royal London Asset Management Ltd.'s investment portfolio, making it its 20th largest position. The company's market capitalization is $365.88 billion, and its price-to-earnings ratio is 118.64.
Other hedge funds have also recently increased their stakes in Merck & Co., Inc. BlackRock Inc. boosted its position by 0.5% in the second quarter, while State Street Corp increased its holdings by 1.6% during the fourth quarter.