Symphony Asset Management LLC Grows Position in Marsh & McLennan Companies, Inc. (MMC)

Symphony Asset Management LLC lifted its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 17.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,106 shares of the financial services provider’s stock after acquiring an additional 7,158 shares during the period. Symphony Asset Management LLC’s holdings in Marsh & McLennan Companies were worth $3,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings 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 purchasing an additional 36,339,736 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 1,105,074 shares during the last quarter. State Street Corp boosted its holdings 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 purchasing an additional 585,706 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings 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 purchasing an additional 74,483 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings 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 purchasing an additional 130,845 shares during the last quarter. 84.87% of the stock is currently owned by hedge funds and other institutional investors.

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Several research firms have commented on MMC. BidaskClub raised shares of Marsh & McLennan Companies from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Marsh & McLennan Companies in a report on Friday, June 16th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Marsh & McLennan Companies in a report on Thursday, July 27th. Citigroup Inc. upped their price target on shares of Marsh & McLennan Companies from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $85.00 target price on shares of Marsh & McLennan Companies in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $81.56.

Shares of Marsh & McLennan Companies, Inc. (NYSE MMC) traded down 0.641% on Monday, reaching $81.425. 899,035 shares of the company were exchanged. The stock has a 50 day moving average of $78.15 and a 200-day moving average of $76.21. The company has a market capitalization of $41.73 billion, a P/E ratio of 22.499 and a beta of 0.98. Marsh & McLennan Companies, Inc. has a 52-week low of $62.33 and a 52-week high of $82.86.

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

In related news, SVP E Scott Gilbert sold 30,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $77.31, for a total transaction of $2,319,300.00. Following the sale, the senior vice president now owns 68,427 shares of the company’s stock, valued at $5,290,091.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.46% of the stock is currently owned by insiders.

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.

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

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