Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 12,549 Marsh & McLennan Companies, Inc. (NYSE:MMC)

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Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,549 shares of the financial services provider’s stock, valued at […]

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,549 shares of the financial services provider’s stock, valued at approximately $1,347,000.

Several other large investors have also recently modified their holdings of the company. Kentucky Retirement Systems bought a new position in shares of Marsh & McLennan Companies during the second quarter valued at about $3,050,000. Dai Ichi Life Insurance Company Ltd raised its stake in shares of Marsh & McLennan Companies by 6.2% during the second quarter. Dai Ichi Life Insurance Company Ltd now owns 96,854 shares of the financial services provider’s stock valued at $10,399,000 after acquiring an additional 5,633 shares during the last quarter. Baker Avenue Asset Management LP raised its stake in shares of Marsh & McLennan Companies by 663.0% during the second quarter. Baker Avenue Asset Management LP now owns 115,135 shares of the financial services provider’s stock valued at $12,362,000 after acquiring an additional 100,045 shares during the last quarter. Cibc World Markets Corp raised its stake in shares of Marsh & McLennan Companies by 15.7% during the second quarter. Cibc World Markets Corp now owns 161,775 shares of the financial services provider’s stock valued at $17,370,000 after acquiring an additional 21,895 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of Marsh & McLennan Companies by 8.2% during the second quarter. Coldstream Capital Management Inc. now owns 2,576 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 195 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Laurie Ledford sold 4,114 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $115.78, for a total value of $476,318.92. Following the sale, the senior vice president now owns 8,939 shares in the company, valued at $1,034,957.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Martine Ferland sold 2,940 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $112.90, for a total transaction of $331,926.00. Following the completion of the sale, the chief executive officer now owns 2,763 shares in the company, valued at approximately $311,942.70. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

MMC traded up $1.18 during midday trading on Monday, reaching $115.18. The company’s stock had a trading volume of 24,619 shares, compared to its average volume of 2,309,819. The stock’s 50-day moving average is $114.69 and its 200-day moving average is $105.23. Marsh & McLennan Companies, Inc. has a 1 year low of $74.33 and a 1 year high of $119.88. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $57.74 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 7.77 and a beta of 0.91.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.19. Marsh & McLennan Companies had a net margin of 11.83% and a return on equity of 31.82%. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 4.81 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 27th were issued a dividend of $0.465 per share. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 1.61%. Marsh & McLennan Companies’s dividend payout ratio is presently 39.91%.

A number of research firms recently issued reports on MMC. Bank of America downgraded shares of Marsh & McLennan Companies from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $115.00 to $113.00 in a research note on Friday, August 21st. Morgan Stanley increased their price target on shares of Marsh & McLennan Companies from $120.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Royal Bank of Canada reissued a “buy” rating and issued a $115.00 price target on shares of Marsh & McLennan Companies in a research note on Monday, July 20th. Atlantic Securities raised shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a research note on Tuesday, May 12th. Finally, BofA Securities downgraded shares of Marsh & McLennan Companies from a “neutral” rating to an “underperform” rating and set a $113.00 price target for the company. in a research note on Friday, August 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus target price of $113.86.

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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