Bank of Nova Scotia trimmed its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 19.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 55,376 shares of the financial services provider’s stock after selling 13,338 shares during the period. Bank of Nova Scotia’s holdings in Marsh & McLennan Companies were worth $4,539,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Marsh & McLennan Companies by 22.5% during the 1st quarter. JPMorgan Chase & Co. now owns 5,322,464 shares of the financial services provider’s stock worth $439,582,000 after purchasing an additional 976,003 shares during the last quarter. Unigestion Holding SA bought a new position in Marsh & McLennan Companies during the 2nd quarter worth $54,564,000. American Century Companies Inc. raised its position in Marsh & McLennan Companies by 21.0% during the 2nd quarter. American Century Companies Inc. now owns 3,414,739 shares of the financial services provider’s stock worth $279,906,000 after purchasing an additional 592,490 shares during the last quarter. Cornerstone Investment Partners LLC bought a new position in Marsh & McLennan Companies during the 2nd quarter worth $44,798,000. Finally, Tesco Pension Investment Ltd raised its position in Marsh & McLennan Companies by 98.6% during the 2nd quarter. Tesco Pension Investment Ltd now owns 1,099,502 shares of the financial services provider’s stock worth $90,126,000 after purchasing an additional 545,839 shares during the last quarter. Institutional investors own 85.90% of the company’s stock.

Shares of Marsh & McLennan Companies stock opened at $85.94 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.46 and a quick ratio of 1.46. Marsh & McLennan Companies, Inc. has a 1-year low of $78.60 and a 1-year high of $87.89. The stock has a market cap of $43.40 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 1.60 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings results on Thursday, July 26th. The financial services provider reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.01). Marsh & McLennan Companies had a return on equity of 29.26% and a net margin of 11.13%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 4.3 earnings per share for the current year.

In other Marsh & McLennan Companies news, SVP E Scott Gilbert sold 80,646 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $84.64, for a total transaction of $6,825,877.44. Following the completion of the sale, the senior vice president now directly owns 123,843 shares in the company, valued at approximately $10,482,071.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.16% of the company’s stock.

Several research analysts recently issued reports on MMC shares. Citigroup raised their target price on Marsh & McLennan Companies from $94.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, July 12th. Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 target price on shares of Marsh & McLennan Companies in a research report on Friday, July 27th. Credit Suisse Group started coverage on Marsh & McLennan Companies in a research report on Tuesday, August 7th. They set a “neutral” rating and a $86.00 target price for the company. Bank of America lowered Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $94.00 to $93.00 in a research report on Thursday, July 26th. Finally, Zacks Investment Research lowered Marsh & McLennan Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Marsh & McLennan Companies presently has a consensus rating of “Hold” and an average target price of $91.45.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc, a professional services firm, provides advice and solutions 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.

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

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