New Mexico Educational Retirement Board Lowers Stake in Marsh & McLennan Companies, Inc. (MMC)

New Mexico Educational Retirement Board reduced its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,941 shares of the financial services provider’s stock after selling 4,300 shares during the period. New Mexico Educational Retirement Board’s holdings in Marsh & McLennan Companies were worth $3,738,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its position in Marsh & McLennan Companies by 3,253.2% in the first quarter. BlackRock Inc. now owns 37,456,799 shares of the financial services provider’s stock valued at $2,767,683,000 after buying an additional 36,339,736 shares during the period. Vanguard Group Inc. increased its position in Marsh & McLennan Companies by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,060,612 shares of the financial services provider’s stock valued at $2,516,739,000 after buying an additional 1,105,074 shares during the period. State Street Corp increased its position in Marsh & McLennan Companies by 2.5% in the first quarter. State Street Corp now owns 23,756,275 shares of the financial services provider’s stock valued at $1,755,356,000 after buying an additional 585,706 shares during the period. Artisan Partners Limited Partnership increased its position in Marsh & McLennan Companies by 1.0% in the first quarter. Artisan Partners Limited Partnership now owns 7,714,508 shares of the financial services provider’s stock valued at $570,025,000 after buying an additional 74,483 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Marsh & McLennan Companies by 2.2% in the first quarter. Ameriprise Financial Inc. now owns 6,014,937 shares of the financial services provider’s stock valued at $444,444,000 after buying an additional 130,845 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies, Inc. (MMC) traded up 0.19% during midday trading on Friday, hitting $77.36. 1,864,568 shares of the stock were exchanged. Marsh & McLennan Companies, Inc. has a 1-year low of $62.33 and a 1-year high of $81.00. The company’s 50 day moving average is $78.37 and its 200 day moving average is $75.43. The company has a market capitalization of $39.65 billion, a P/E ratio of 21.38 and a beta of 0.98.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.00 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.00. Marsh & McLennan Companies had a return on equity of 28.56% and a net margin of 13.97%. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. Analysts predict that Marsh & McLennan Companies, Inc. will post $3.81 earnings per share for the current fiscal year.

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Several equities analysts recently commented on MMC shares. BidaskClub downgraded shares of Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods restated a “buy” rating and issued a $83.00 price target on shares of Marsh & McLennan Companies in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of Marsh & McLennan Companies from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, June 27th. Barclays PLC upped their price target on shares of Marsh & McLennan Companies from $84.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 3rd. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Marsh & McLennan Companies in a research note on Wednesday, August 9th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Marsh & McLennan Companies currently has a consensus rating of “Buy” and a consensus target price of $81.56.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy.

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

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