AQR Capital Management LLC Acquires 136,959 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• AQR Capital Management LLC increased its stake in Marsh & McLennan Companies by 33.0%, bringing its total holdings to 551,616 shares, valued at approximately $134.6 million.
• Multiple institutional investors, including Wealth Enhancement Advisory Services LLC and LPL Financial LLC, have also significantly increased their positions in Marsh & McLennan Companies during the first quarter.
• The company recently declared a quarterly dividend of $0.90, reflecting a boost from the previous dividend, marking an annual yield of 1.8%.

AQR Capital Management LLC lifted its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 33.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 551,616 shares of the financial services provider's stock after purchasing an additional 136,959 shares during the quarter. AQR Capital Management LLC owned 0.11% of Marsh & McLennan Companies worth $134,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Accent Capital Management LLC purchased a new position in Marsh & McLennan Companies in the 1st quarter worth about $25,000. Knuff & Co LLC purchased a new position in Marsh & McLennan Companies in the 1st quarter worth about $28,000. Activest Wealth Management raised its position in Marsh & McLennan Companies by 2,775.0% in the 1st quarter. Activest Wealth Management now owns 115 shares of the financial services provider's stock worth $28,000 after buying an additional 111 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Marsh & McLennan Companies in the 4th quarter worth about $37,000. Finally, City Holding Co. purchased a new position in Marsh & McLennan Companies in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 87.99% of the company's stock.

Insider Activity

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total value of $4,334,896.35. Following the completion of the transaction, the chief executive officer directly owned 87,681 shares in the company, valued at $18,031,597.65. This represents a 19.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.35% of the company's stock.

Marsh & McLennan Companies Stock Performance

Shares of NYSE:MMC traded down $2.56 during mid-day trading on Tuesday, reaching $200.90. 857,610 shares of the company traded hands, compared to its average volume of 2,241,067. The company's 50 day moving average price is $207.82 and its 200-day moving average price is $221.13. The firm has a market cap of $98.77 billion, a PE ratio of 24.07, a PEG ratio of 2.56 and a beta of 0.81. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.20 and a quick ratio of 1.20. Marsh & McLennan Companies, Inc. has a 52 week low of $196.27 and a 52 week high of $248.00.

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 company had revenue of $6.97 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $2.41 EPS. On average, equities analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 24th were paid a dividend of $0.90 per share. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date was Thursday, July 24th. 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 presently 43.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MMC shares. Morgan Stanley decreased their target price on 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. Barclays cut their price target on Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. UBS Group cut their price target on Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Wells Fargo & Company cut their price target 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. Finally, Keefe, Bruyette & Woods cut their price target on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a research note on Monday, July 21st. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $238.76.

About Marsh & McLennan Companies

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.