Marsh & McLennan Companies, Inc. (MMC) Shares Sold by CIBC World Markets Inc.

CIBC World Markets Inc. cut its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 25.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,824 shares of the financial services provider’s stock after selling 5,401 shares during the quarter. CIBC World Markets Inc.’s holdings in Marsh & McLennan Companies were worth $1,234,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MMC. Swiss National Bank boosted its stake in Marsh & McLennan Companies by 26.4% in the first quarter. Swiss National Bank now owns 1,826,963 shares of the financial services provider’s stock valued at $134,994,000 after buying an additional 381,400 shares in the last quarter. World Asset Management Inc boosted its stake in Marsh & McLennan Companies by 18.9% in the first quarter. World Asset Management Inc now owns 57,600 shares of the financial services provider’s stock valued at $4,256,000 after buying an additional 9,161 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Marsh & McLennan Companies by 3.2% in the first quarter. UBS Asset Management Americas Inc. now owns 4,958,185 shares of the financial services provider’s stock valued at $366,360,000 after buying an additional 155,770 shares in the last quarter. British Columbia Investment Management Corp boosted its stake in Marsh & McLennan Companies by 1.4% in the first quarter. British Columbia Investment Management Corp now owns 271,047 shares of the financial services provider’s stock valued at $20,028,000 after buying an additional 3,788 shares in the last quarter. Finally, Lincoln National Corp boosted its stake in Marsh & McLennan Companies by 26.6% in the first quarter. Lincoln National Corp now owns 5,524 shares of the financial services provider’s stock valued at $408,000 after buying an additional 1,159 shares in the last quarter. 84.87% of the stock is currently owned by institutional investors and hedge funds.

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MMC has been the topic of several research analyst reports. Barclays PLC raised their price objective on Marsh & McLennan Companies from $84.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 3rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Marsh & McLennan Companies in a research note on Thursday, July 27th. BidaskClub raised Marsh & McLennan Companies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Marsh & McLennan Companies in a research note on Friday, June 2nd. Finally, Citigroup Inc. raised their price objective on Marsh & McLennan Companies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Marsh & McLennan Companies currently has an average rating of “Buy” and a consensus target price of $81.56.

Marsh & McLennan Companies, Inc. (NYSE MMC) opened at 81.02 on Friday. Marsh & McLennan Companies, Inc. has a 12 month low of $62.33 and a 12 month high of $82.86. The company has a market capitalization of $41.52 billion, a P/E ratio of 22.39 and a beta of 0.98. The stock’s 50 day moving average price is $78.34 and its 200-day moving average price is $76.39.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.00. Marsh & McLennan Companies had a return on equity of 28.56% and a net margin of 13.97%. The firm had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the prior year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Marsh & McLennan Companies, Inc. will post $3.80 EPS for the current fiscal year.

In related news, SVP E Scott Gilbert sold 30,000 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $77.31, for a total transaction of $2,319,300.00. Following the completion of the sale, the senior vice president now directly owns 68,427 shares in the company, valued at approximately $5,290,091.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.46% of the stock is currently owned by corporate insiders.

About Marsh & McLennan Companies

Marsh & McLennan Companies, Inc is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy.

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

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