Banque Pictet & Cie SA increased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 231,586 shares of the financial services provider's stock after purchasing an additional 23,248 shares during the quarter. Marsh & McLennan Companies accounts for 0.5% of Banque Pictet & Cie SA's holdings, making the stock its 28th biggest holding. Banque Pictet & Cie SA's holdings in Marsh & McLennan Companies were worth $56,514,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of MMC. Ameriflex Group Inc. bought a new position in Marsh & McLennan Companies in the 4th quarter valued at $37,000. City Holding Co. bought a new position in Marsh & McLennan Companies in the 1st quarter valued at $37,000. Transce3nd LLC purchased a new stake in shares of Marsh & McLennan Companies in the 4th quarter worth $39,000. Garde Capital Inc. purchased a new stake in shares of Marsh & McLennan Companies in the 1st quarter worth $42,000. Finally, First Pacific Financial lifted its holdings in shares of Marsh & McLennan Companies by 133.8% in the 1st quarter. First Pacific Financial now owns 187 shares of the financial services provider's stock worth $46,000 after buying an additional 107 shares during the period. Institutional investors own 87.99% of the company's stock.
Marsh & McLennan Companies Stock Down 1.4%
NYSE:MMC traded down $3.09 during mid-day trading on Friday, hitting $211.62. 2,234,444 shares of the company's stock traded hands, compared to its average volume of 1,980,081. The company has a fifty day moving average of $222.70 and a 200 day moving average of $224.76. Marsh & McLennan Companies, Inc. has a twelve month low of $207.21 and a twelve month high of $248.00. The company has a market capitalization of $104.27 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.59 and a beta of 0.80. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.14 and a current ratio of 1.14.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.04. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.08 billion. Marsh & McLennan Companies had a return on equity of 32.19% and a net margin of 16.13%. During the same period in the prior year, the company posted $2.89 EPS. On average, analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.
Marsh & McLennan Companies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 24th will be issued a $0.90 dividend. The ex-dividend date is 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 1.70%. Marsh & McLennan Companies's dividend payout ratio is currently 39.95%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on MMC shares. Jefferies Financial Group upped their target price on Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company upped their target price on Marsh & McLennan Companies from $228.00 to $229.00 and gave the stock an "equal weight" rating in a report on Thursday. Barclays decreased their price objective 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. Redburn Atlantic began coverage on Marsh & McLennan Companies in a research note on Tuesday, March 25th. They set a "buy" rating and a $281.00 price objective for the company. Finally, UBS Group upped their price objective on Marsh & McLennan Companies from $259.00 to $261.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $240.50.
Get Our Latest Stock Analysis on Marsh & McLennan Companies
Marsh & McLennan Companies Company Profile
(
Free Report)
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.
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