Sumitomo Life Insurance Co. Sells 5,085 Shares of Marsh & McLennan Companies, Inc. (MMC)

Sumitomo Life Insurance Co. decreased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,897 shares of the financial services provider’s stock after selling 5,085 shares during the period. Sumitomo Life Insurance Co.’s holdings in Marsh & McLennan Companies were worth $2,639,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MMC. Jane Street Group LLC increased its stake in Marsh & McLennan Companies by 358.7% during the first quarter. Jane Street Group LLC now owns 18,172 shares of the financial services provider’s stock valued at $1,501,000 after purchasing an additional 14,210 shares during the last quarter. Verition Fund Management LLC bought a new stake in Marsh & McLennan Companies during the first quarter valued at $285,000. Atlantic Trust Group LLC increased its stake in Marsh & McLennan Companies by 1.2% during the first quarter. Atlantic Trust Group LLC now owns 74,012 shares of the financial services provider’s stock valued at $6,113,000 after purchasing an additional 903 shares during the last quarter. Royal Bank of Canada increased its stake in Marsh & McLennan Companies by 1.7% during the first quarter. Royal Bank of Canada now owns 367,176 shares of the financial services provider’s stock valued at $30,324,000 after purchasing an additional 6,220 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in Marsh & McLennan Companies by 6.1% during the first quarter. Xact Kapitalforvaltning AB now owns 76,608 shares of the financial services provider’s stock valued at $6,327,000 after purchasing an additional 4,407 shares during the last quarter. Hedge funds and other institutional investors own 86.02% of the company’s stock.

Several analysts have weighed in on the stock. Credit Suisse Group set a $91.00 target price on shares of Marsh & McLennan Companies and gave the company a “hold” rating in a research note on Tuesday, October 9th. Zacks Investment Research upgraded shares of Marsh & McLennan Companies from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. Citigroup upped their price target on shares of Marsh & McLennan Companies from $94.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, July 12th. Bank of America lowered shares of Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $94.00 to $93.00 in a research report on Thursday, July 26th. Finally, UBS Group lowered their price target on shares of Marsh & McLennan Companies from $92.00 to $87.00 and set a “neutral” rating for the company in a research report on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $92.27.

Marsh & McLennan Companies stock opened at $80.05 on Friday. The stock has a market cap of $40.86 billion, a PE ratio of 20.42, a PEG ratio of 1.51 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.46 and a quick ratio of 1.46. Marsh & McLennan Companies, Inc. has a one year low of $78.60 and a one year high of $87.89.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Thursday, July 26th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.01). The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Marsh & McLennan Companies had a return on equity of 29.26% and a net margin of 11.13%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 EPS. Equities research analysts predict that Marsh & McLennan Companies, Inc. will post 4.3 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, October 11th will be given a dividend of $0.415 per share. The ex-dividend date of this dividend is Wednesday, October 10th. This represents a $1.66 annualized dividend and a dividend yield of 2.07%. Marsh & McLennan Companies’s dividend payout ratio is currently 42.35%.

In other news, SVP E Scott Gilbert sold 80,646 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $84.64, for a total transaction of $6,825,877.44. Following the completion of the transaction, the senior vice president now owns 123,843 shares in the company, valued at $10,482,071.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.16% of the stock is currently owned by corporate insiders.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc, a professional services firm, provides advice and solutions 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.

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

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