Price T Rowe Associates Inc. MD lessened its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) by 16.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,527,241 shares of the financial services provider’s stock after selling 1,623,779 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.73% of Marsh & McLennan Companies worth $2,080,904,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MMC. Parisi Gray Wealth Management purchased a new stake in shares of Marsh & McLennan Companies during the 1st quarter valued at about $947,000. Wealth Enhancement Advisory Services LLC grew its position in Marsh & McLennan Companies by 101.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 103,551 shares of the financial services provider’s stock valued at $25,270,000 after acquiring an additional 52,218 shares in the last quarter. LPL Financial LLC raised its stake in shares of Marsh & McLennan Companies by 9.9% during the first quarter. LPL Financial LLC now owns 324,035 shares of the financial services provider’s stock valued at $78,662,000 after purchasing an additional 29,247 shares during the period. Penserra Capital Management LLC boosted 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 valued at $1,741,000 after purchasing an additional 3,593 shares during the period. Finally, US Asset Management LLC grew its holdings 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 in the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of 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. UBS Group cut their price target on Marsh & McLennan Companies from $261.00 to $258.00 and set a “buy” rating on the stock in a research note on Monday, July 21st. Morgan Stanley reduced their price target on Marsh & McLennan Companies from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Monday. Barclays dropped their price objective on Marsh & McLennan Companies from $249.00 to $233.00 and set an “equal weight” rating on the stock in a report on Monday, July 7th. Finally, Citigroup began coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set a “neutral” rating and a $226.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and an average target price of $238.76.
Marsh & McLennan Companies Price Performance
Shares of MMC opened at $211.0860 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. The firm has a market cap of $103.77 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 2.63 and a beta of 0.77. Marsh & McLennan Companies, Inc. has a 52 week low of $196.27 and a 52 week high of $248.00. The stock has a 50 day moving average of $210.58 and a 200-day moving average of $223.14.
Marsh & McLennan Companies (NYSE:MMC – Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $6.92 billion. During the same quarter in the prior year, the firm earned $2.41 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current 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 issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Thursday, July 24th. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.82. Marsh & McLennan Companies’s payout ratio is presently 43.17%.
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.
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