California State Teachers Retirement System Trims Stake in Marsh & McLennan Companies, Inc. (MMC)

California State Teachers Retirement System decreased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 8.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 949,492 shares of the financial services provider’s stock after selling 88,723 shares during the period. California State Teachers Retirement System owned approximately 0.19% of Marsh & McLennan Companies worth $74,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. CWM LLC boosted its position in shares of Marsh & McLennan Companies by 0.7% during the 2nd quarter. CWM LLC now owns 1,774 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 13 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Marsh & McLennan Companies by 0.3% during the 2nd quarter. IFP Advisors Inc now owns 5,578 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 18 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Marsh & McLennan Companies by 0.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 5,038 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 19 shares in the last quarter. United Capital Financial Advisers LLC boosted its position in shares of Marsh & McLennan Companies by 0.3% during the 1st quarter. United Capital Financial Advisers LLC now owns 8,519 shares of the financial services provider’s stock valued at $629,000 after purchasing an additional 22 shares in the last quarter. Finally, Guardian Life Insurance Co. of America boosted its position in shares of Marsh & McLennan Companies by 1.8% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,989 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

In related news, SVP E Scott Gilbert sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $77.31, for a total value of $2,319,300.00. Following the completion of the transaction, the senior vice president now directly owns 68,427 shares in the company, valued at approximately $5,290,091.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.46% of the stock is currently owned by insiders.

Shares of Marsh & McLennan Companies, Inc. (MMC) traded up 0.20% on Tuesday, hitting $83.52. 262,224 shares of the company’s stock traded hands. The company has a market cap of $42.81 billion, a price-to-earnings ratio of 23.08 and a beta of 1.00. Marsh & McLennan Companies, Inc. has a 1-year low of $62.33 and a 1-year high of $84.52. The firm’s 50-day moving average price is $80.89 and its 200 day moving average price is $77.54.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 10th will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.50 annualized dividend and a dividend yield of 1.80%. Marsh & McLennan Companies’s dividend payout ratio is presently 41.44%.

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada restated a “buy” rating and set a $85.00 price objective on shares of Marsh & McLennan Companies in a research report on Friday, July 28th. Keefe, Bruyette & Woods restated a “buy” rating and set a $83.00 price objective on shares of Marsh & McLennan Companies in a research report on Friday, August 18th. Morgan Stanley restated an “equal weight” rating and set a $80.00 price objective (up previously from $73.00) on shares of Marsh & McLennan Companies in a research report on Friday, July 7th. Jefferies Group LLC restated a “hold” rating on shares of Marsh & McLennan Companies in a research report on Friday, June 16th. Finally, Zacks Investment Research upgraded shares of Marsh & McLennan Companies from a “sell” rating to a “hold” rating and set a $95.00 price objective for the company in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $82.64.

WARNING: “California State Teachers Retirement System Trims Stake in Marsh & McLennan Companies, Inc. (MMC)” was first reported by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://www.com-unik.info/2017/10/10/california-state-teachers-retirement-system-trims-stake-in-marsh-mclennan-companies-inc-mmc.html.

Marsh & McLennan Companies 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.

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

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