1248 Management LLC Reduces Stock Holdings in Marsh & McLennan Companies, Inc. $MMC

Key Points

• 1248 Management LLC reduced its stake in Marsh & McLennan Companies by 34.0%, selling 1,734 shares and leaving it with 3,373 shares valued at $823,000 at the end of the recent quarter.
• Marsh & McLennan Companies recently increased its dividend to $0.90 per share, up from $0.82, indicating a 1.8% dividend yield and a payout ratio of 43.17%.
• Despite analyst price target adjustments, the stock currently holds an average rating of "Hold" with a consensus target price of $238.76.

1248 Management LLC cut its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 34.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,373 shares of the financial services provider's stock after selling 1,734 shares during the period. 1248 Management LLC's holdings in Marsh & McLennan Companies were worth $823,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MMC. Wellington Management Group LLP grew its stake 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 worth $3,127,193,000 after buying an additional 4,505,548 shares during the last quarter. Nuveen LLC acquired a new stake in Marsh & McLennan Companies during the 1st quarter worth about $1,038,594,000. GAMMA Investing LLC increased its holdings in Marsh & McLennan Companies by 32,120.9% in the first quarter. GAMMA Investing LLC now owns 1,515,670 shares of the financial services provider's stock worth $369,869,000 after purchasing an additional 1,510,966 shares in the last quarter. Ninety One UK Ltd grew its holdings in 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 worth $578,517,000 after purchasing an additional 1,436,044 shares during the period. Finally, Deutsche Bank AG grew its holdings in Marsh & McLennan Companies by 25.7% in the fourth quarter. Deutsche Bank AG now owns 3,719,830 shares of the financial services provider's stock worth $790,129,000 after purchasing an additional 759,573 shares during the period. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MMC has been the subject of several research reports. Wells Fargo & Company reduced their target price on Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. Barclays lowered their price target on shares of 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. Cantor Fitzgerald began coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set an "overweight" rating and a $256.00 price target on the stock. Citigroup initiated coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set a "neutral" rating and a $226.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut their price objective on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a report on Monday, July 21st. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $238.76.

Marsh & McLennan Companies Stock Down 0.2%

Shares of NYSE MMC traded down $0.42 on Wednesday, reaching $205.02. 1,244,048 shares of the company's stock traded hands, compared to its average volume of 1,986,814. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.19. The business's 50 day simple moving average is $208.60 and its two-hundred day simple moving average is $221.79. Marsh & McLennan Companies, Inc. has a 12 month low of $196.27 and a 12 month high of $248.00. The company has a market cap of $100.79 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 2.58 and a beta of 0.81.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.66 by $0.06. The business had revenue of $6.97 billion during 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 quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.41 earnings per share. As a group, equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, July 24th. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.82. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.8%. Marsh & McLennan Companies's dividend payout ratio is currently 43.17%.

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.