Panagora Asset Management Inc. cut its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 25.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,820 shares of the financial services provider’s stock after selling 4,696 shares during the period. Panagora Asset Management Inc.’s holdings in Marsh & McLennan Companies were worth $1,379,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lenox Wealth Advisors LLC purchased a new position in Marsh & McLennan Companies in the 2nd quarter worth about $26,000. Coastal Capital Group Inc. purchased a new stake in shares of Marsh & McLennan Companies during the 2nd quarter valued at about $30,000. Meeder Asset Management Inc. bought a new position in shares of Marsh & McLennan Companies in the 2nd quarter worth approximately $30,000. Capital Advisors Ltd. LLC bought a new position in shares of Marsh & McLennan Companies in the 2nd quarter worth approximately $31,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of Marsh & McLennan Companies by 2,385.7% in the second quarter. Cullen Frost Bankers Inc. now owns 348 shares of the financial services provider’s stock worth $35,000 after buying an additional 334 shares during the last quarter. Institutional investors and hedge funds own 86.97% of the company’s stock.
Several analysts recently issued reports on MMC shares. Royal Bank of Canada boosted their target price on shares of Marsh & McLennan Companies from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Morgan Stanley boosted their price objective on shares of Marsh & McLennan Companies from $101.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Zacks Investment Research lowered Marsh & McLennan Companies from a “hold” rating to a “sell” rating and set a $105.00 price objective for the company. in a research note on Monday, July 1st. ValuEngine cut Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods downgraded Marsh & McLennan Companies from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $100.00 to $99.00 in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Marsh & McLennan Companies has a consensus rating of “Hold” and a consensus price target of $98.50.
Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.05. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.27 billion. Marsh & McLennan Companies had a net margin of 9.45% and a return on equity of 29.72%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 earnings per share. Sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 4.62 earnings per share for the current fiscal year.
Marsh & McLennan Companies Company Profile
Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services, and Consulting. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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