OVERSEA CHINESE BANKING Corp Ltd Decreases Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

OVERSEA CHINESE BANKING Corp Ltd reduced its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 47.9% in the first quarter, HoldingsChannel.com reports. The firm owned 2,323 shares of the financial services provider’s stock after selling 2,140 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Marsh & McLennan Companies were worth $567,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new stake in Marsh & McLennan Companies in the 4th quarter worth approximately $37,000. City Holding Co. bought a new position in shares of Marsh & McLennan Companies during the first quarter valued at approximately $37,000. Transce3nd LLC purchased a new stake in Marsh & McLennan Companies in the fourth quarter worth $39,000. Garde Capital Inc. bought a new stake in Marsh & McLennan Companies in the first quarter valued at $42,000. Finally, First Pacific Financial increased its position in Marsh & McLennan Companies by 133.8% during the 1st quarter. First Pacific Financial now owns 187 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 107 shares during the period. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Price Performance

MMC opened at $197.76 on Monday. The firm has a market cap of $97.22 billion, a PE ratio of 23.71, a P/E/G ratio of 2.40 and a beta of 0.77. The stock has a 50-day moving average price of $216.62 and a 200-day moving average price of $224.39. Marsh & McLennan Companies, Inc. has a 1 year low of $196.27 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.

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 the consensus estimate of $2.66 by $0.06. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The business had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the previous year, the company earned $2.41 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 24th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 24th. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.82. Marsh & McLennan Companies’s dividend payout ratio is 43.17%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MMC. Barclays dropped their target price on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an “equal weight” rating for the company in a research report on Monday, July 7th. Keefe, Bruyette & Woods lowered 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, July 21st. Wells Fargo & Company reduced their target price on Marsh & McLennan Companies from $229.00 to $226.00 and set an “equal weight” rating on the stock in a report on Friday, July 18th. Jefferies Financial Group raised their target price on Marsh & McLennan Companies from $237.00 to $244.00 and gave the company a “hold” rating in a research note on Friday, April 11th. Finally, UBS Group lowered their price objective on Marsh & McLennan Companies from $261.00 to $258.00 and set a “buy” rating for the company in a research report on Monday, July 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Marsh & McLennan Companies has a consensus rating of “Hold” and a consensus target price of $239.79.

Marsh & McLennan Companies Profile

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.