Raymond James & Associates lifted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,831 shares of the financial services provider’s stock after purchasing an additional 18,566 shares during the period. Raymond James & Associates owned 0.05% of Marsh & McLennan Companies worth $21,381,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LeJeune Puetz Investment Counsel LLC bought a new position in shares of Marsh & McLennan Companies during the second quarter valued at about $100,000. Kaizen Advisory LLC lifted its position in shares of Marsh & McLennan Companies by 152.0% during the second quarter. Kaizen Advisory LLC now owns 1,245 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 751 shares in the last quarter. Sun Life Financial INC raised its position in Marsh & McLennan Companies by 619.9% in the second quarter. Sun Life Financial INC now owns 1,375 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 1,184 shares during the period. McKinley Carter Wealth Services Inc. bought a new stake in Marsh & McLennan Companies in the first quarter worth about $127,000. Finally, Wealthcare Advisory Partners LLC raised its position in Marsh & McLennan Companies by 87.8% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,914 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 895 shares during the period. 85.96% of the stock is currently owned by institutional investors.
Several analysts have commented on the stock. Credit Suisse Group assumed coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, August 7th. They issued a “neutral” rating and a $86.00 price objective on the stock. Citigroup lifted their price objective on shares of Marsh & McLennan Companies from $94.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, July 12th. Bank of America lowered shares of Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $94.00 to $93.00 in a research report on Thursday, July 26th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $90.00 price objective on shares of Marsh & McLennan Companies in a research report on Friday, July 27th. Finally, Zacks Investment Research lowered shares of Marsh & McLennan Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $92.30.
Shares of MMC traded down $0.42 during trading hours on Friday, hitting $83.18. The company’s stock had a trading volume of 967,271 shares, compared to its average volume of 1,869,800. The company has a market capitalization of $41.77 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.54 and a beta of 0.94. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.75. Marsh & McLennan Companies, Inc. has a 52-week low of $78.60 and a 52-week high of $87.89.
Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, July 26th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Marsh & McLennan Companies had a return on equity of 29.26% and a net margin of 11.13%. Marsh & McLennan Companies’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. On average, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 4.3 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, October 11th will be paid a $0.415 dividend. The ex-dividend date is Wednesday, October 10th. This represents a $1.66 annualized dividend and a dividend yield of 2.00%. Marsh & McLennan Companies’s payout ratio is 42.35%.
In other news, SVP E Scott Gilbert sold 80,646 shares of Marsh & McLennan Companies stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $84.64, for a total value of $6,825,877.44. Following the completion of the transaction, the senior vice president now owns 123,843 shares in the company, valued at $10,482,071.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.16% of the stock is owned by company insiders.
Marsh & McLennan Companies Company Profile
Marsh & McLennan Companies, Inc, a professional services firm, provides advice and solutions in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services, and Consulting. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance, reinsurance broking, catastrophe and financial modeling, and related advisory services.
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