Hardman Johnston Global Advisors LLC Has $43.69 Million Stock Position in Marsh & McLennan Companies, Inc. $MMC

Hardman Johnston Global Advisors LLC lessened its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.2% during the second quarter, HoldingsChannel reports. The fund owned 199,827 shares of the financial services provider’s stock after selling 315 shares during the quarter. Marsh & McLennan Companies accounts for about 1.9% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Hardman Johnston Global Advisors LLC’s holdings in Marsh & McLennan Companies were worth $43,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of Marsh & McLennan Companies by 54.2% during the first quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider’s stock valued at $3,127,193,000 after buying an additional 4,505,548 shares during the last quarter. Nuveen LLC bought a new position in Marsh & McLennan Companies during the 1st quarter valued at $1,038,594,000. Ninety One UK Ltd raised its holdings in shares of Marsh & McLennan Companies by 153.6% in the first quarter. Ninety One UK Ltd now owns 2,370,678 shares of the financial services provider’s stock valued at $578,517,000 after purchasing an additional 1,436,044 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Marsh & McLennan Companies by 5,035.9% in the second quarter. Assenagon Asset Management S.A. now owns 808,800 shares of the financial services provider’s stock valued at $176,836,000 after purchasing an additional 793,052 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Marsh & McLennan Companies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,321,445 shares of the financial services provider’s stock worth $11,059,792,000 after purchasing an additional 581,930 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Stock Down 0.8%

Shares of NYSE:MMC opened at $199.71 on Friday. Marsh & McLennan Companies, Inc. has a one year low of $195.01 and a one 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 $98.18 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 2.53 and a beta of 0.81. The firm has a fifty day moving average price of $203.14 and a two-hundred day moving average price of $216.95.

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

Marsh & McLennan Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 annualized dividend and a dividend yield of 1.8%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 43.17%.

Insider Activity at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the transaction, the chief executive officer owned 87,681 shares of the company’s stock, valued at approximately $18,031,597.65. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup assumed coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $226.00 target price on the stock. Wolfe Research began coverage on Marsh & McLennan Companies in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Cantor Fitzgerald initiated coverage on Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set an “overweight” rating and a $256.00 target price for the company. Keefe, Bruyette & Woods reduced their price target on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating for the company in a research report on Monday, July 21st. Finally, Morgan Stanley reduced their price target on shares of Marsh & McLennan Companies from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $238.76.

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.