Texas Capital Bank Wealth Management Services Inc Increases Stock Holdings in Marsh & McLennan Companies, Inc. $MMC

Texas Capital Bank Wealth Management Services Inc raised its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 36.4% during the 1st quarter, HoldingsChannel reports. The firm owned 4,425 shares of the financial services provider’s stock after acquiring an additional 1,181 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Marsh & McLennan Companies were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Accent Capital Management LLC purchased a new position in shares of Marsh & McLennan Companies in the 1st quarter valued at approximately $25,000. Knuff & Co LLC purchased a new position in shares of Marsh & McLennan Companies in the 1st quarter valued at approximately $28,000. Ameriflex Group Inc. acquired a new stake in shares of Marsh & McLennan Companies in the 4th quarter valued at approximately $37,000. City Holding Co. acquired a new stake in shares of Marsh & McLennan Companies in the 1st quarter valued at approximately $37,000. Finally, Transce3nd LLC acquired a new stake in shares of Marsh & McLennan Companies in the 4th quarter valued at approximately $39,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Marsh & McLennan Companies Stock Performance

Marsh & McLennan Companies stock opened at $207.71 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a fifty day moving average of $210.85 and a two-hundred day moving average of $223.31. The company has a market capitalization of $102.11 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 2.58 and a beta of 0.77. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.27 and a fifty-two week high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.06. The company 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%. Marsh & McLennan Companies’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.41 earnings per share. On average, analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 24th were paid a $0.90 dividend. The ex-dividend date was Thursday, July 24th. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.82. This represents a $3.60 annualized dividend and a yield of 1.7%. Marsh & McLennan Companies’s payout ratio is currently 43.17%.

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.