Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD cut its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 11.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,071 shares of the financial services provider’s stock after selling 7,687 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Marsh & McLennan Companies were worth $4,839,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Carroll Financial Associates Inc. boosted its stake in shares of Marsh & McLennan Companies by 21.8% in the second quarter. Carroll Financial Associates Inc. now owns 1,301 shares of the financial services provider’s stock valued at $101,000 after buying an additional 233 shares during the last quarter. Tompkins Financial Corp boosted its stake in shares of Marsh & McLennan Companies by 10.9% in the second quarter. Tompkins Financial Corp now owns 1,370 shares of the financial services provider’s stock valued at $107,000 after buying an additional 135 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Marsh & McLennan Companies by 7.3% in the first quarter. CENTRAL TRUST Co now owns 1,502 shares of the financial services provider’s stock valued at $111,000 after buying an additional 102 shares during the last quarter. Ledyard National Bank boosted its stake in shares of Marsh & McLennan Companies by 651.7% in the first quarter. Ledyard National Bank now owns 1,511 shares of the financial services provider’s stock valued at $112,000 after buying an additional 1,310 shares during the last quarter. Finally, Orrstown Financial Services Inc. boosted its stake in shares of Marsh & McLennan Companies by 26.7% in the first quarter. Orrstown Financial Services Inc. now owns 1,615 shares of the financial services provider’s stock valued at $120,000 after buying an additional 340 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Marsh & McLennan Companies, Inc. (NYSE:MMC) opened at 77.36 on Friday. 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, Inc. has a one year low of $62.33 and a one year high of $81.00. The company’s 50-day moving average is $78.37 and its 200 day moving average is $75.43.

Marsh & McLennan Companies (NYSE:MMC) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.00 EPS for the quarter, hitting analysts’ consensus estimates of $1.00. Marsh & McLennan Companies had a net margin of 13.97% and a return on equity of 28.56%. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. Marsh & McLennan Companies’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post $3.81 earnings per share for the current year.

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Several brokerages have recently issued reports on MMC. Jefferies Group LLC restated a “hold” rating and set a $80.00 target price (up from $74.00) on shares of Marsh & McLennan Companies in a research report on Friday, April 28th. Keefe, Bruyette & Woods restated a “buy” rating and set a $83.00 target price on shares of Marsh & McLennan Companies in a research report on Friday. Zacks Investment Research upgraded shares of Marsh & McLennan Companies from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Wells Fargo & Company restated a “buy” rating on shares of Marsh & McLennan Companies in a research report on Thursday, July 27th. Finally, Deutsche Bank AG upped their target price on shares of Marsh & McLennan Companies from $76.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Marsh & McLennan Companies has an average rating of “Buy” and a consensus target price of $81.56.

About Marsh & McLennan Companies

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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