Scotia Capital Inc. Has $3.64 Million Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Scotia Capital Inc. raised its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 41.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,454 shares of the financial services provider’s stock after purchasing an additional 10,607 shares during the period. Scotia Capital Inc.’s holdings in Marsh & McLennan Companies were worth $3,636,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew 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 worth $527,675,000 after acquiring an additional 410,471 shares during the last quarter. USS Investment Management Ltd grew its stake in shares of Marsh & McLennan Companies by 0.6% in the first quarter. USS Investment Management Ltd now owns 2,178,459 shares of the financial services provider’s stock worth $204,546,000 after acquiring an additional 12,432 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Marsh & McLennan Companies by 27.7% in the first quarter. Gamco Investors INC. ET AL now owns 5,295 shares of the financial services provider’s stock worth $497,000 after acquiring an additional 1,150 shares during the last quarter. Cornerstone Advisors Inc. grew its stake in shares of Marsh & McLennan Companies by 70.2% in the first quarter. Cornerstone Advisors Inc. now owns 1,804 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 744 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in shares of Marsh & McLennan Companies in the first quarter worth $378,000. Institutional investors own 86.97% of the company’s stock.

Shares of Marsh & McLennan Companies stock traded up $0.12 during trading on Friday, reaching $99.80. The company’s stock had a trading volume of 37,437 shares, compared to its average volume of 1,309,519. The stock has a 50-day moving average price of $98.97 and a two-hundred day moving average price of $96.62. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37. Marsh & McLennan Companies, Inc. has a one year low of $74.30 and a one year high of $103.36. The stock has a market capitalization of $49.66 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.05. Marsh & McLennan Companies had a return on equity of 29.72% and a net margin of 9.45%. The business had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the previous year, the business posted $1.10 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 4.62 EPS for the current fiscal year.

Several brokerages have recently issued reports on MMC. Keefe, Bruyette & Woods downgraded shares of Marsh & McLennan Companies from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $100.00 to $99.00 in a research note on Wednesday, June 12th. Royal Bank of Canada lifted their price objective on Marsh & McLennan Companies from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Zacks Investment Research cut Marsh & McLennan Companies from a “hold” rating to a “sell” rating and set a $105.00 price objective for the company. in a report on Monday, July 1st. UBS Group lifted their price objective on Marsh & McLennan Companies from $98.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, ValuEngine cut Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $98.50.

About Marsh & McLennan Companies

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.

Further Reading: What can cause a stock to outperform?

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

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