Bridges Investment Management Inc. Sells 2,255 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• Bridges Investment Management Inc. reduced its stake in Marsh & McLennan Companies by 3.0%, selling 2,255 shares, leaving them with 73,019 shares valued at approximately $15.97 million at the end of the second quarter.
• Marsh & McLennan reported quarterly earnings of $2.72 per share, exceeding estimates, with revenue of $6.97 billion, an increase of 12.1% compared to the same period last year.
• The company announced a quarterly dividend of $0.90 per share, which will be paid on November 14th, representing an annualized dividend of $3.60 and a yield of 1.8%.

Bridges Investment Management Inc. trimmed its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,019 shares of the financial services provider's stock after selling 2,255 shares during the quarter. Bridges Investment Management Inc.'s holdings in Marsh & McLennan Companies were worth $15,965,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Accent Capital Management LLC bought a new position in shares of Marsh & McLennan Companies during the 1st quarter worth approximately $25,000. Knuff & Co LLC bought a new position in shares of Marsh & McLennan Companies during the 1st quarter worth approximately $28,000. Activest Wealth Management boosted its stake in shares of Marsh & McLennan Companies by 2,775.0% during the 1st quarter. Activest Wealth Management now owns 115 shares of the financial services provider's stock worth $28,000 after acquiring an additional 111 shares during the period. Capital Analysts LLC boosted its stake in shares of Marsh & McLennan Companies by 61.0% during the 1st quarter. Capital Analysts LLC now owns 169 shares of the financial services provider's stock worth $41,000 after acquiring an additional 64 shares during the period. Finally, Garde Capital Inc. bought a new position in shares of Marsh & McLennan Companies during the 1st quarter worth approximately $42,000. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Price Performance

Shares of NYSE MMC opened at $204.05 on Thursday. The stock has a market capitalization of $100.31 billion, a PE ratio of 24.47, a P/E/G ratio of 2.61 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. The business has a fifty day moving average price of $203.55 and a two-hundred day moving average price of $214.98. Marsh & McLennan Companies, Inc. has a fifty-two week low of $195.01 and a fifty-two 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 for the quarter, beating the consensus estimate of $2.66 by $0.06. The firm 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 company's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.41 EPS. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Thursday, October 2nd will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 annualized dividend and a yield of 1.8%. Marsh & McLennan Companies's payout ratio is currently 43.17%.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction 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 of the company's stock, valued at $18,031,597.65. The trade was a 19.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on MMC. Cantor Fitzgerald began coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set an "overweight" rating and a $256.00 target price for the company. Citigroup initiated coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price target for the company. Wolfe Research initiated coverage on Marsh & McLennan Companies in a research note on Tuesday, September 16th. They issued a "peer perform" rating for the company. Weiss Ratings restated a "hold (c+)" rating on shares of Marsh & McLennan Companies in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price target on Marsh & McLennan Companies from $226.00 to $222.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $237.13.

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.

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