Capital Asset Advisory Services LLC Cuts Stake in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Capital Asset Advisory Services LLC reduced its stake in Marsh & McLennan Companies by 19.1%, now holding 5,336 shares valued at approximately $1,162,000.
• The company reported $2.72 earnings per share for the most recent quarter, exceeding analysts' expectations of $2.66, with a revenue of $6.97 billion.
• Marsh & McLennan increased its quarterly dividend from $0.82 to $0.90 per share, representing a 1.8% yield.

Capital Asset Advisory Services LLC cut its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 19.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,336 shares of the financial services provider's stock after selling 1,260 shares during the quarter. Capital Asset Advisory Services LLC's holdings in Marsh & McLennan Companies were worth $1,162,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Accent Capital Management LLC purchased a new stake in shares of Marsh & McLennan Companies during the first quarter worth about $25,000. Knuff & Co LLC acquired a new position in Marsh & McLennan Companies in the first quarter worth about $28,000. Activest Wealth Management grew its stake in Marsh & McLennan Companies by 2,775.0% in the first quarter. Activest Wealth Management now owns 115 shares of the financial services provider's stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Marsh & McLennan Companies in the fourth quarter worth about $37,000. Finally, City Holding Co. acquired a new position in Marsh & McLennan Companies in the first quarter worth about $37,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Trading Down 0.2%

Shares of NYSE:MMC opened at $202.97 on Monday. Marsh & McLennan Companies, Inc. has a 12 month low of $196.27 and a 12 month high of $248.00. 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 company's fifty day simple moving average is $206.85 and its 200 day simple moving average is $220.25. The firm has a market cap of $99.78 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 2.55 and a beta of 0.81.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share 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 the consensus estimate of $6.92 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.41 earnings per share. As a group, research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 24th were given a dividend of $0.90 per share. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.82. This represents a $3.60 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, July 24th. Marsh & McLennan Companies's dividend payout ratio (DPR) is currently 43.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company decreased 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. Morgan Stanley dropped their target price on Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Cantor Fitzgerald started coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 price target on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a research report on Monday, July 21st. Finally, Citigroup began coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $238.76.

Insiders Place Their Bets

In related 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 transaction of $4,334,896.35. Following the completion of the sale, the chief executive officer owned 87,681 shares of the company's stock, valued at $18,031,597.65. This represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.35% of the stock is owned by corporate insiders.

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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