Todays Report: Today, JPMorgan Chase & Co. Reached $805,351,000 position of Marsh & McLennan Cos. (MMC)

Today, JPMorgan Chase & Co. Reached $805,351,000 position  of Marsh & McLennan Cos. (MMC)

JPMorgan Chase & Co. reduced its position in shares of Marsh & McLennan Cos. (NYSE:MMC) by 14.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,975,445 shares of the company’s stock after selling 1,944,029 shares during the period. JPMorgan Chase & Co. owned 2.32% of Marsh & McLennan Cos. worth $805,351,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Marsh & McLennan Cos. by 1.6% in the second quarter. Vanguard Group Inc. now owns 31,517,353 shares of the company’s stock worth $2,157,678,000 after buying an additional 498,068 shares during the period. FMR LLC raised its position in Marsh & McLennan Cos. by 30.2% in the second quarter. FMR LLC now owns 16,680,076 shares of the company’s stock worth $1,141,918,000 after buying an additional 3,868,048 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Marsh & McLennan Cos. by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 14,505,069 shares of the company’s stock worth $993,017,000 after buying an additional 305,913 shares during the period. BlackRock Fund Advisors raised its position in Marsh & McLennan Cos. by 6.8% in the second quarter. BlackRock Fund Advisors now owns 8,057,589 shares of the company’s stock worth $551,623,000 after buying an additional 511,943 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in Marsh & McLennan Cos. by 2.0% in the second quarter. Artisan Partners Limited Partnership now owns 7,357,005 shares of the company’s stock worth $503,661,000 after buying an additional 147,217 shares during the period. Hedge funds and other institutional investors own 87.80% of the company’s stock.

Marsh & McLennan Cos. (NYSE:MMC) opened at 69.46 on Friday. Marsh & McLennan Cos. has a 52 week low of $50.81 and a 52 week high of $69.69. The company has a 50-day moving average of $65.90 and a 200 day moving average of $66.32. The firm has a market cap of $35.81 billion, a P/E ratio of 21.37 and a beta of 0.85.

Marsh & McLennan Cos. (NYSE:MMC) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. Marsh & McLennan Cos. had a return on equity of 25.27% and a net margin of 12.95%. The company earned $3.14 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts predict that Marsh & McLennan Cos. will post $3.37 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, October 11th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, October 6th. This represents a $1.36 annualized dividend and a yield of 1.96%. Marsh & McLennan Cos.’s dividend payout ratio is currently 41.85%.

MMC has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Marsh & McLennan Cos. from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Deutsche Bank AG raised their target price on Marsh & McLennan Cos. from $67.00 to $71.00 and gave the company a “buy” rating in a report on Friday, July 29th. Citigroup Inc. reduced their target price on Marsh & McLennan Cos. from $78.00 to $76.00 and set a “buy” rating for the company in a report on Tuesday, October 11th. Sandler O’Neill raised Marsh & McLennan Cos. from a “hold” rating to a “buy” rating in a report on Monday, November 7th. Finally, BMO Capital Markets raised Marsh & McLennan Cos. from a “market perform” rating to an “outperform” rating and raised their target price for the company from $75.00 to $76.00 in a report on Friday, November 4th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Marsh & McLennan Cos. has an average rating of “Buy” and an average target price of $69.25.

In other Marsh & McLennan Cos. news, Chairman Peter Zaffino sold 21,087 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $63.16, for a total transaction of $1,331,854.92. Following the transaction, the chairman now owns 150,736 shares of the company’s stock, valued at $9,520,485.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Robert J. Rapport sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $69.00, for a total value of $690,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.

About Marsh & McLennan Cos.

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