Sumitomo Life Insurance Co. Grows Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Sumitomo Life Insurance Co. raised its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 9.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,762 shares of the financial services provider’s stock after purchasing an additional 3,194 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Marsh & McLennan Companies were worth $3,767,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Cornerstone Advisors Inc. increased its position in shares of Marsh & McLennan Companies by 6.4% during the second quarter. Cornerstone Advisors Inc. now owns 1,920 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 116 shares during the last quarter. Buckley Wealth Management LLC increased its position in shares of Marsh & McLennan Companies by 3.2% during the second quarter. Buckley Wealth Management LLC now owns 3,729 shares of the financial services provider’s stock worth $372,000 after acquiring an additional 116 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Marsh & McLennan Companies by 3.0% during the first quarter. Global Retirement Partners LLC now owns 4,279 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 123 shares during the last quarter. Destination Wealth Management increased its position in shares of Marsh & McLennan Companies by 11.1% during the first quarter. Destination Wealth Management now owns 1,455 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 145 shares during the last quarter. Finally, Royal Bank of Scotland Group PLC increased its position in shares of Marsh & McLennan Companies by 1.3% during the first quarter. Royal Bank of Scotland Group PLC now owns 11,397 shares of the financial services provider’s stock worth $1,070,000 after acquiring an additional 150 shares during the last quarter. 84.77% of the stock is currently owned by institutional investors.

A number of analysts have recently issued reports on MMC shares. Zacks Investment Research lowered Marsh & McLennan Companies from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a research report on Monday, July 1st. Keefe, Bruyette & Woods lowered Marsh & McLennan Companies from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $100.00 to $99.00 in a research report on Wednesday, June 12th. UBS Group lifted their target price on 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 began coverage on Marsh & McLennan Companies in a research note on Monday, April 8th. They issued a “neutral” rating and a $98.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on Marsh & McLennan Companies from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $97.30.

NYSE:MMC traded up $1.76 during mid-day trading on Tuesday, reaching $97.49. The stock had a trading volume of 774,979 shares, compared to its average volume of 1,491,436. The stock has a market cap of $50.59 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 1.77 and a beta of 0.77. Marsh & McLennan Companies, Inc. has a 1-year low of $74.30 and a 1-year high of $103.36. The business has a 50 day simple moving average of $100.48. The company has a quick ratio of 2.21, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.05. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. Marsh & McLennan Companies had a return on equity of 29.72% and a net margin of 9.45%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned $1.10 earnings per share. As a group, analysts predict that Marsh & McLennan Companies, Inc. will post 4.6 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 1.87%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, July 10th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 41.84%.

Marsh & McLennan Companies 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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