State of Alaska Department of Revenue Sells 963 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

State of Alaska Department of Revenue cut its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,247 shares of the financial services provider’s stock after selling 963 shares during the quarter. State of Alaska Department of Revenue’s holdings in Marsh & McLennan Companies were worth $7,802,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Marsh & McLennan Companies by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,532,594 shares of the financial services provider’s stock worth $122,219,000 after purchasing an additional 66,176 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Marsh & McLennan Companies by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 6,628,096 shares of the financial services provider’s stock valued at $527,675,000 after buying an additional 410,471 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at about $813,000. Millennium Management LLC lifted its stake in shares of Marsh & McLennan Companies by 349.6% in the fourth quarter. Millennium Management LLC now owns 29,163 shares of the financial services provider’s stock valued at $2,326,000 after buying an additional 22,677 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Marsh & McLennan Companies by 6.0% during the fourth quarter. Nordea Investment Management AB now owns 29,434 shares of the financial services provider’s stock worth $2,347,000 after purchasing an additional 1,653 shares during the period. 84.79% of the stock is currently owned by hedge funds and other institutional investors.

MMC has been the topic of several analyst reports. UBS Group boosted their price target on shares of Marsh & McLennan Companies from $98.00 to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Goldman Sachs Group started coverage on shares of Marsh & McLennan Companies in a research report on Monday, April 8th. They set a “neutral” rating and a $98.00 price objective for the company. ValuEngine upgraded shares of Marsh & McLennan Companies from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Royal Bank of Canada increased their price objective on shares of Marsh & McLennan Companies from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Finally, Wells Fargo & Co reiterated a “market perform” rating and set a $95.00 price objective on shares of Marsh & McLennan Companies in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Marsh & McLennan Companies currently has a consensus rating of “Hold” and an average price target of $97.30.

NYSE:MMC traded down $1.75 during trading hours on Wednesday, reaching $98.71. The company had a trading volume of 1,730,215 shares, compared to its average volume of 1,200,518. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $52.39 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 1.84 and a beta of 0.78. The stock has a 50-day moving average price of $100.45. Marsh & McLennan Companies, Inc. has a twelve month low of $74.30 and a twelve month high of $103.36.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.05. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. Marsh & McLennan Companies had a net margin of 11.16% and a return on equity of 29.72%. The company’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned $1.10 earnings per share. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 4.59 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.82 annualized dividend and a yield of 1.84%. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.42. Marsh & McLennan Companies’s payout ratio is currently 41.84%.

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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