The Marsh & McLennan Cos. (MMC) Stake Reduced by Mizuho Trust & Banking Co. Ltd.

The Marsh & McLennan Cos. (MMC) Stake Reduced by Mizuho Trust & Banking Co. Ltd.

Mizuho Trust & Banking Co. Ltd. lowered its position in Marsh & McLennan Cos. (NYSE:MMC) by 0.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 825,169 shares of the company’s stock after selling 2,072 shares during the period. Mizuho Trust & Banking Co. Ltd. owned 0.16% of Marsh & McLennan Cos. worth $55,493,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Seven Bridges Advisors LLC boosted its position in shares of Marsh & McLennan Cos. by 21.0% in the third quarter. Seven Bridges Advisors LLC now owns 1,524 shares of the company’s stock worth $102,000 after buying an additional 264 shares during the period. Washington Trust Bank boosted its position in shares of Marsh & McLennan Cos. by 0.6% in the third quarter. Washington Trust Bank now owns 1,695 shares of the company’s stock worth $114,000 after buying an additional 10 shares during the period. Financial Architects Inc boosted its position in shares of Marsh & McLennan Cos. by 326.2% in the second quarter. Financial Architects Inc now owns 2,144 shares of the company’s stock worth $146,000 after buying an additional 1,641 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Marsh & McLennan Cos. by 0.6% in the third quarter. Quadrant Capital Group LLC now owns 2,545 shares of the company’s stock worth $166,000 after buying an additional 14 shares during the period. Finally, First Allied Advisory Services Inc. bought a new position in shares of Marsh & McLennan Cos. during the second quarter worth about $201,000. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Marsh & McLennan Cos. (NYSE:MMC) opened at 68.17 on Thursday. Marsh & McLennan Cos. has a 52 week low of $50.99 and a 52 week high of $69.77. The stock’s 50 day moving average price is $68.40 and its 200 day moving average price is $67.07. The company has a market capitalization of $35.15 billion, a P/E ratio of 20.97 and a beta of 0.87.

Marsh & McLennan Cos. (NYSE:MMC) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.25 billion. Marsh & McLennan Cos. had a return on equity of 25.27% and a net margin of 12.95%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. Analysts anticipate that Marsh & McLennan Cos. will post $3.37 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Wednesday, January 25th will be issued a $0.34 dividend. The ex-dividend date is Monday, January 23rd. This represents a $1.36 annualized dividend and a yield of 2.00%. Marsh & McLennan Cos.’s payout ratio is currently 41.85%.

A number of equities research analysts have recently commented on MMC shares. Vetr raised Marsh & McLennan Cos. from a “hold” rating to a “buy” rating and set a $71.72 price target on the stock in a research report on Monday, December 5th. Sandler O’Neill raised Marsh & McLennan Cos. from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. Zacks Investment Research raised Marsh & McLennan Cos. from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday, October 3rd. Barclays PLC reaffirmed a “buy” rating and set a $77.00 price target on shares of Marsh & McLennan Cos. in a research report on Friday, September 30th. Finally, Citigroup Inc. dropped their price target on Marsh & McLennan Cos. from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $69.44.

In other Marsh & McLennan Cos. news, Chairman Peter Zaffino sold 21,087 shares of the stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $63.16, for a total value of $1,331,854.92. Following the transaction, the chairman now owns 150,736 shares in the company, valued at $9,520,485.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert J. Rapport sold 10,000 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $69.00, for a total value of $690,000.00. The disclosure for this sale can be found here. 1.51% of the stock is owned by company insiders.

About Marsh & McLennan Cos.

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 specialty consultants, including Marsh, an insurance broker, intermediary and risk advisor; Guy Carpenter, a risk and reinsurance specialist; Mercer, a provider of human resource (HR) and related financial advice and services, and Oliver Wyman Group, a management, economic and brand consultancy.

Want to see what other hedge funds are holding MMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Cos. (NYSE:MMC).

Related posts

Leave a Comment