Retirement Systems of Alabama Increases Holdings in Marsh & McLennan Companies, Inc. (MMC)

Retirement Systems of Alabama raised its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 42.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 356,153 shares of the financial services provider’s stock after buying an additional 106,290 shares during the period. Retirement Systems of Alabama owned about 0.07% of Marsh & McLennan Companies worth $29,849,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMC. State of Alaska Department of Revenue raised its stake in Marsh & McLennan Companies by 8.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,834 shares of the financial services provider’s stock valued at $376,000 after buying an additional 360 shares during the last quarter. Ledyard National Bank raised its stake in Marsh & McLennan Companies by 88.7% during the 2nd quarter. Ledyard National Bank now owns 2,851 shares of the financial services provider’s stock valued at $222,000 after buying an additional 1,340 shares during the last quarter. Abner Herrman & Brock LLC purchased a new stake in Marsh & McLennan Companies during the 2nd quarter valued at $217,000. Boyd Watterson Asset Management LLC OH raised its stake in Marsh & McLennan Companies by 4.5% during the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 4,626 shares of the financial services provider’s stock valued at $361,000 after buying an additional 200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Marsh & McLennan Companies by 7.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 127,087 shares of the financial services provider’s stock worth $9,908,000 after purchasing an additional 9,000 shares in the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) opened at $83.00 on Tuesday. Marsh & McLennan Companies, Inc. has a 12 month low of $66.75 and a 12 month high of $84.90. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $42,436.17, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.77 and a beta of 1.01.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. Marsh & McLennan Companies had a return on equity of 28.88% and a net margin of 13.86%. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the prior year, the business posted $0.69 EPS. Marsh & McLennan Companies’s revenue for the quarter was up 6.6% compared to the same quarter last year. equities analysts expect that Marsh & McLennan Companies, Inc. will post 3.82 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 10th will be paid a $0.375 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.50 dividend on an annualized basis and a yield of 1.81%. Marsh & McLennan Companies’s payout ratio is presently 41.10%.

Several research firms have recently commented on MMC. Royal Bank Of Canada restated a “buy” rating and issued a $85.00 price objective on shares of Marsh & McLennan Companies in a research note on Friday, July 28th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $83.00 price objective on shares of Marsh & McLennan Companies in a research note on Friday, August 18th. Zacks Investment Research upgraded Marsh & McLennan Companies from a “sell” rating to a “hold” rating and set a $95.00 price objective for the company in a research note on Monday, October 2nd. Wells Fargo & Company restated a “buy” rating on shares of Marsh & McLennan Companies in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC restated a “hold” rating on shares of Marsh & McLennan Companies in a research note on Sunday, October 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus target price of $84.39.

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In other Marsh & McLennan Companies news, SVP E Scott Gilbert sold 30,000 shares of the stock in a transaction 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 sale, the senior vice president now owns 68,427 shares in the company, valued at approximately $5,290,091.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marc D. Oken purchased 1,235 shares of the business’s stock in a transaction on Monday, October 30th. The stock was acquired at an average price of $80.89 per share, with a total value of $99,899.15. Following the purchase, the director now directly owns 40,120 shares in the company, valued at approximately $3,245,306.80. The disclosure for this purchase can be found here. Corporate insiders own 1.46% of the company’s stock.

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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