Marsh & McLennan Companies, Inc. (MMC) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia lifted its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 37.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,102 shares of the financial services provider’s stock after acquiring an additional 45,115 shares during the period. Bank of Nova Scotia’s holdings in Marsh & McLennan Companies were worth $13,028,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Marsh & McLennan Companies by 9.3% during the second quarter. BlackRock Inc. now owns 40,950,741 shares of the financial services provider’s stock worth $3,192,520,000 after buying an additional 3,493,942 shares in the last quarter. Vanguard Group Inc. boosted its stake in Marsh & McLennan Companies by 2.6% during the second quarter. Vanguard Group Inc. now owns 34,936,066 shares of the financial services provider’s stock worth $2,723,616,000 after buying an additional 875,454 shares in the last quarter. State Street Corp boosted its stake in Marsh & McLennan Companies by 2.5% during the first quarter. State Street Corp now owns 23,756,275 shares of the financial services provider’s stock worth $1,755,356,000 after buying an additional 585,706 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Marsh & McLennan Companies by 0.6% during the second quarter. Artisan Partners Limited Partnership now owns 7,758,692 shares of the financial services provider’s stock worth $604,868,000 after buying an additional 44,184 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Marsh & McLennan Companies by 7.9% during the second quarter. Ameriprise Financial Inc. now owns 6,492,693 shares of the financial services provider’s stock worth $506,165,000 after buying an additional 477,756 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

A number of equities research analysts have weighed in on MMC shares. BidaskClub downgraded shares of Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Barclays PLC lifted their price target on shares of Marsh & McLennan Companies from $84.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 3rd. Wells Fargo & Company reiterated a “buy” rating on shares of Marsh & McLennan Companies in a research note on Wednesday, August 9th. Citigroup Inc. lifted their price target on shares of Marsh & McLennan Companies from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $85.00 price objective on shares of Marsh & McLennan Companies in a report on Friday, July 28th. One research 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 currently 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 stock in a transaction dated 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 transaction, the senior vice president now directly owns 68,427 shares in the company, valued at $5,290,091.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.46% of the stock is currently owned by company insiders.

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Marsh & McLennan Companies, Inc. (NYSE:MMC) traded up 0.72% on Friday, hitting $84.17. The company had a trading volume of 169,528 shares. The firm has a market capitalization of $43.14 billion, a PE ratio of 23.26 and a beta of 1.01. The firm has a 50-day moving average price of $81.40 and a 200-day moving average price of $77.69. Marsh & McLennan Companies, Inc. has a 12-month low of $62.33 and a 12-month high of $84.52.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 10th will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.50 annualized dividend and a yield of 1.79%. Marsh & McLennan Companies’s dividend payout ratio is presently 41.44%.

Marsh & McLennan Companies Company 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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