Gries Financial LLC Has $1.69 Million Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Gries Financial LLC increased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,923 shares of the financial services provider’s stock after buying an additional 249 shares during the period. Gries Financial LLC’s holdings in Marsh & McLennan Companies were worth $1,689,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Parisi Gray Wealth Management purchased a new stake in shares of Marsh & McLennan Companies in the first quarter valued at about $947,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Marsh & McLennan Companies by 101.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 103,551 shares of the financial services provider’s stock worth $25,270,000 after acquiring an additional 52,218 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Marsh & McLennan Companies by 101.4% in the first quarter. Penserra Capital Management LLC now owns 7,136 shares of the financial services provider’s stock worth $1,741,000 after buying an additional 3,593 shares during the period. US Asset Management LLC increased its position in Marsh & McLennan Companies by 23.1% during the 1st quarter. US Asset Management LLC now owns 6,847 shares of the financial services provider’s stock valued at $1,671,000 after purchasing an additional 1,284 shares during the period. Finally, Annex Advisory Services LLC grew its position in shares of Marsh & McLennan Companies by 2.1% in the 1st quarter. Annex Advisory Services LLC now owns 63,300 shares of the financial services provider’s stock worth $15,447,000 after buying an additional 1,288 shares during the period. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Trading Up 0.4%

Shares of MMC stock opened at $211.85 on Monday. The stock has a 50 day simple moving average of $221.16 and a 200-day simple moving average of $224.82. Marsh & McLennan Companies, Inc. has a 1-year low of $207.21 and a 1-year high of $248.00. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $104.15 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.58 and a beta of 0.80.

Marsh & McLennan Companies (NYSE:MMC) last issued its earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.06. The business had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.92 billion. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the company earned $2.41 EPS. On average, equities research analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 24th will be given a dividend of $0.90 per share. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.82. The ex-dividend date is Thursday, July 24th. This represents a $3.60 annualized dividend and a yield of 1.70%. Marsh & McLennan Companies’s payout ratio is 39.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods cut their price objective on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating for the company in a report on Monday. Wells Fargo & Company cut their target price on shares of Marsh & McLennan Companies from $229.00 to $226.00 and set an “equal weight” rating for the company in a report on Friday. UBS Group lifted their target price on Marsh & McLennan Companies from $259.00 to $261.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Finally, Redburn Atlantic began coverage on Marsh & McLennan Companies in a report on Tuesday, March 25th. They issued a “buy” rating and a $281.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Marsh & McLennan Companies presently has an average rating of “Hold” and an average target price of $240.00.

About Marsh & McLennan Companies

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.