Cornerstone Capital Management Holdings LLC. Sells 274 Shares of Marsh & McLennan Companies, Inc. (MMC)

Cornerstone Capital Management Holdings LLC. reduced its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,646 shares of the financial services provider’s stock after selling 274 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Marsh & McLennan Companies were worth $6,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of 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 period. 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 period. Acrospire Investment Management LLC bought a new stake in shares of Marsh & McLennan Companies in the second quarter valued at approximately $109,000. Grove Bank & Trust boosted its stake in shares of Marsh & McLennan Companies by 5.6% in the second quarter. Grove Bank & Trust now owns 1,603 shares of the financial services provider’s stock valued at $125,000 after buying an additional 85 shares during the period. Finally, CWM LLC boosted its stake in shares of Marsh & McLennan Companies by 0.7% in the second quarter. CWM LLC now owns 1,774 shares of the financial services provider’s stock valued at $138,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Several brokerages recently issued reports on MMC. Zacks Investment Research upgraded Marsh & McLennan Companies from a “sell” rating to a “hold” rating and set a $95.00 price target for the company in a research note on Monday, October 2nd. Royal Bank Of Canada reiterated a “buy” rating and issued a $85.00 price target on shares of Marsh & McLennan Companies in a research note on Tuesday, October 3rd. Wells Fargo & Company reiterated a “buy” rating on shares of Marsh & McLennan Companies in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $83.00 price target on shares of Marsh & McLennan Companies in a research note on Friday, August 18th. Finally, Deutsche Bank AG cut Marsh & McLennan Companies from a “buy” rating to a “hold” rating and set a $83.00 target price for the company. in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $82.64.

In other Marsh & McLennan Companies news, SVP E Scott Gilbert sold 30,000 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were 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 of the company’s stock, valued at approximately $5,290,091.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.46% of the stock is owned by company insiders.

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Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) opened at 83.49 on Wednesday. The firm’s 50-day moving average price is $81.06 and its 200 day moving average price is $77.60. The company has a market capitalization of $42.79 billion, a PE ratio of 23.07 and a beta of 1.01. Marsh & McLennan Companies, Inc. has a 1-year low of $62.33 and a 1-year high of $84.52.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.00 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.00. Marsh & McLennan Companies had a net margin of 13.97% and a return on equity of 28.56%. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts predict that Marsh & McLennan Companies, Inc. will post $3.81 EPS for the current fiscal year.

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

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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