Cresset Asset Management LLC Cuts Position in Marsh & McLennan Companies, Inc. $MMC

Cresset Asset Management LLC reduced its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,144 shares of the financial services provider’s stock after selling 658 shares during the quarter. Cresset Asset Management LLC’s holdings in Marsh & McLennan Companies were worth $4,184,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MMC. Brighton Jones LLC increased its holdings in Marsh & McLennan Companies by 51.2% in the 4th quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider’s stock valued at $1,856,000 after purchasing an additional 2,960 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in shares of Marsh & McLennan Companies in the fourth quarter worth about $37,178,000. XTX Topco Ltd acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at about $304,000. Marshall Wace LLP acquired a new position in Marsh & McLennan Companies during the 4th quarter worth approximately $2,376,000. Finally, MML Investors Services LLC boosted its holdings in Marsh & McLennan Companies by 2.8% in the 4th quarter. MML Investors Services LLC now owns 48,034 shares of the financial services provider’s stock worth $10,203,000 after acquiring an additional 1,299 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $207.71 on Tuesday. Marsh & McLennan Companies, Inc. has a 12-month low of $196.27 and a 12-month 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 firm has a market capitalization of $102.11 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 2.58 and a beta of 0.77. The business has a 50 day simple moving average of $210.85 and a 200 day simple moving average of $223.31.

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

Marsh & McLennan Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 24th were issued a dividend of $0.90 per share. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.82. This represents a $3.60 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, July 24th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 43.17%.

Analyst Upgrades and Downgrades

MMC has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Monday, July 7th. Wells Fargo & Company decreased their price objective on shares of Marsh & McLennan Companies from $229.00 to $226.00 and set an “equal weight” rating for the company in a research report on Friday, July 18th. Citigroup started coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $226.00 price target on the stock. Cantor Fitzgerald initiated coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set an “overweight” rating and a $256.00 price objective for the company. Finally, UBS Group cut their target price on Marsh & McLennan Companies from $261.00 to $258.00 and set a “buy” rating on the stock in a research report on Monday, July 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus price target of $238.76.

Marsh & McLennan Companies Company 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.