Marsh & McLennan Companies, Inc. (MMC) Shares Sold by Sumitomo Mitsui Asset Management Company LTD

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Sumitomo Mitsui Asset Management Company LTD lowered its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 9.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,227 shares of the financial services provider’s stock after selling 5,255 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Marsh & McLennan Companies were worth $4,904,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MMC. Oregon Public Employees Retirement Fund increased its holdings in shares of Marsh & McLennan Companies by 7,364.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,053,539 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 8,932,244 shares during the period. Norges Bank bought a new position in shares of Marsh & McLennan Companies in the fourth quarter worth $330,042,000. BlackRock Inc. increased its holdings in shares of Marsh & McLennan Companies by 7.0% in the fourth quarter. BlackRock Inc. now owns 42,432,232 shares of the financial services provider’s stock worth $3,383,971,000 after purchasing an additional 2,758,761 shares during the period. Alleghany Corp DE bought a new position in shares of Marsh & McLennan Companies in the fourth quarter worth $79,750,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Marsh & McLennan Companies by 13.9% in the third quarter. JPMorgan Chase & Co. now owns 7,748,014 shares of the financial services provider’s stock worth $640,917,000 after purchasing an additional 945,494 shares during the period. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MMC traded up $0.40 during midday trading on Friday, hitting $96.11. The company had a trading volume of 35,262 shares, compared to its average volume of 1,795,613. Marsh & McLennan Companies, Inc. has a 52-week low of $74.30 and a 52-week high of $96.34. The firm has a market capitalization of $48.05 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.73 and a beta of 0.86. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.21 and a current ratio of 2.21.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, April 25th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.07. Marsh & McLennan Companies had a net margin of 11.16% and a return on equity of 29.72%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 4.61 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.415 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.66 annualized dividend and a yield of 1.73%. Marsh & McLennan Companies’s payout ratio is 38.16%.

In other Marsh & McLennan Companies news, SVP E Scott Gilbert sold 12,677 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $92.77, for a total transaction of $1,176,045.29. Following the completion of the sale, the senior vice president now directly owns 55,874 shares in the company, valued at $5,183,430.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Stacy Mills sold 1,245 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $92.60, for a total transaction of $115,287.00. Following the sale, the vice president now owns 2,923 shares of the company’s stock, valued at $270,669.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,691 shares of company stock valued at $11,406,907. Company insiders own 1.16% of the company’s stock.

Several research firms have recently weighed in on MMC. Zacks Investment Research cut shares of Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Goldman Sachs Group started coverage on shares of Marsh & McLennan Companies in a research report on Monday, April 8th. They issued a “neutral” rating and a $98.00 target price for the company. Citigroup set a $99.00 target price on shares of Marsh & McLennan Companies and gave the stock a “buy” rating in a research report on Saturday, February 2nd. ValuEngine upgraded shares of Marsh & McLennan Companies from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $95.00 target price on shares of Marsh & McLennan Companies in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $93.60.

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Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services, and Consulting. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.

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Institutional Ownership by Quarter for Marsh & McLennan Companies (NYSE:MMC)

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