Adage Capital Partners GP L.L.C. Cuts Stock Holdings in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in Marsh & McLennan Companies by 3.1%, now holding approximately 357,861 shares worth $87,329,000.
• Marsh & McLennan recently increased its quarterly dividend to $0.90 per share, reflecting an annualized dividend of $3.60 and a yield of 1.8%.
• The company reported strong earnings with a $2.72 per share earnings outcome for the last quarter, exceeding analysts' estimates and showing 12.1% revenue growth year-on-year.

Adage Capital Partners GP L.L.C. lowered its position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 357,861 shares of the financial services provider's stock after selling 11,300 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.07% of Marsh & McLennan Companies worth $87,329,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MMC. Wellington Management Group LLP lifted its holdings in 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 period. Nuveen LLC purchased a new stake in Marsh & McLennan Companies during the first quarter worth $1,038,594,000. GAMMA Investing LLC lifted its holdings in Marsh & McLennan Companies by 32,120.9% during the first quarter. GAMMA Investing LLC now owns 1,515,670 shares of the financial services provider's stock worth $369,869,000 after buying an additional 1,510,966 shares during the period. Ninety One UK Ltd lifted its holdings in Marsh & McLennan Companies by 153.6% during 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 buying an additional 1,436,044 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Marsh & McLennan Companies by 25.7% during the fourth quarter. Deutsche Bank AG now owns 3,719,830 shares of the financial services provider's stock worth $790,129,000 after buying an additional 759,573 shares during the period. Hedge funds and other institutional investors own 87.99% of the company's stock.

Insider Activity at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 21,079 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total value of $4,334,896.35. Following the completion of the sale, the chief executive officer directly owned 87,681 shares of the company's stock, valued at approximately $18,031,597.65. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company's stock.

Marsh & McLennan Companies Stock Performance

NYSE MMC traded down $2.57 during trading hours on Friday, hitting $203.54. The company had a trading volume of 1,516,947 shares, compared to its average volume of 1,860,909. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.20 and a current ratio of 1.20. Marsh & McLennan Companies, Inc. has a 1-year low of $196.27 and a 1-year high of $248.00. The company has a market cap of $100.06 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.56 and a beta of 0.81. The business has a 50 day moving average of $208.13 and a 200-day moving average of $221.38.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company 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 posted $2.41 earnings per share. Marsh & McLennan Companies's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts expect 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. Stockholders of record on Thursday, July 24th were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, July 24th. This is a positive change 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%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Cantor Fitzgerald assumed coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They set an "overweight" rating and a $256.00 target price for the company. Morgan Stanley cut their price target on Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Barclays dropped their target price on Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Keefe, Bruyette & Woods lowered their price objective on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a report on Monday, July 21st. Finally, Citigroup began coverage on shares of 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. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $238.76.

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.