Cornerstone Investment Partners LLC Increases Holdings in Marsh & McLennan Companies, Inc. (MMC)

Cornerstone Investment Partners LLC raised its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 31.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 720,066 shares of the financial services provider’s stock after buying an additional 173,552 shares during the quarter. Marsh & McLennan Companies comprises 2.5% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 23rd largest position. Cornerstone Investment Partners LLC owned approximately 0.14% of Marsh & McLennan Companies worth $59,564,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Investec Asset Management LTD raised its stake in Marsh & McLennan Companies by 22.6% during the second quarter. Investec Asset Management LTD now owns 2,075,578 shares of the financial services provider’s stock valued at $170,135,000 after buying an additional 383,166 shares in the last quarter. Tuttle Tactical Management bought a new position in shares of Marsh & McLennan Companies during the second quarter valued at approximately $276,000. Standard Life Aberdeen plc grew its holdings in shares of Marsh & McLennan Companies by 12.7% during the second quarter. Standard Life Aberdeen plc now owns 433,964 shares of the financial services provider’s stock valued at $35,574,000 after purchasing an additional 49,052 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Marsh & McLennan Companies by 0.4% during the second quarter. Macquarie Group Ltd. now owns 7,869,959 shares of the financial services provider’s stock valued at $645,100,000 after purchasing an additional 28,659 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its holdings in shares of Marsh & McLennan Companies by 1,046.0% during the second quarter. Rehmann Capital Advisory Group now owns 3,461 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 3,159 shares during the last quarter. Hedge funds and other institutional investors own 86.02% of the company’s stock.

In related news, SVP E Scott Gilbert sold 80,646 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $84.64, for a total value of $6,825,877.44. Following the completion of the transaction, the senior vice president now directly owns 123,843 shares of the company’s stock, valued at approximately $10,482,071.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.16% of the company’s stock.

Several equities analysts have recently commented on MMC shares. Citigroup upped their target price on Marsh & McLennan Companies from $94.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, July 12th. Zacks Investment Research lowered Marsh & McLennan Companies from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Bank of America lowered Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $94.00 to $93.00 in a report on Thursday, July 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 target price on shares of Marsh & McLennan Companies in a report on Friday, July 27th. Finally, Credit Suisse Group started coverage on Marsh & McLennan Companies in a report on Tuesday, August 7th. They set a “neutral” rating and a $86.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Marsh & McLennan Companies presently has an average rating of “Hold” and an average price target of $92.27.

MMC stock traded up $0.53 on Friday, reaching $80.58. The company’s stock had a trading volume of 101,594 shares, compared to its average volume of 1,803,749. Marsh & McLennan Companies, Inc. has a 52 week low of $78.60 and a 52 week high of $87.89. The firm has a market capitalization of $40.86 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth 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 (NYSE:MMC) last issued its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Marsh & McLennan Companies had a return on equity of 29.26% and a net margin of 11.13%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the company earned $1.00 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 4.3 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 11th will be issued a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, October 10th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 42.35%.

About Marsh & McLennan Companies

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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