Cumberland Partners Ltd Sells 2,543 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• Cumberland Partners Ltd reduced its holdings in Marsh & McLennan Companies by 1.8%, selling 2,543 shares, leaving it with 136,164 shares valued at approximately $33.2 million.
• Marsh & McLennan reported a quarterly earnings of $2.72 per share, exceeding analyst estimates and reflecting a 12.1% year-over-year revenue growth of $6.97 billion.
• The company announced an increase in its quarterly dividend from $0.82 to $0.90 per share, representing an annualized yield of 1.8% with a payout ratio of 43.17%.

Cumberland Partners Ltd trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 1.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 136,164 shares of the financial services provider's stock after selling 2,543 shares during the period. Marsh & McLennan Companies makes up 2.6% of Cumberland Partners Ltd's investment portfolio, making the stock its 12th largest holding. Cumberland Partners Ltd's holdings in Marsh & McLennan Companies were worth $33,228,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMC. Brighton Jones LLC lifted its holdings in shares of Marsh & McLennan Companies by 51.2% in the 4th quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider's stock worth $1,856,000 after purchasing an additional 2,960 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new position in shares of Marsh & McLennan Companies in the 4th quarter worth $37,178,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Marsh & McLennan Companies in the 4th quarter worth $19,041,000. OneAscent Financial Services LLC lifted its holdings in shares of Marsh & McLennan Companies by 44.6% in the 4th quarter. OneAscent Financial Services LLC now owns 2,194 shares of the financial services provider's stock worth $466,000 after purchasing an additional 677 shares in the last quarter. Finally, Nicolet Advisory Services LLC lifted its holdings in shares of Marsh & McLennan Companies by 12.4% in the 4th quarter. Nicolet Advisory Services LLC now owns 3,293 shares of the financial services provider's stock worth $689,000 after purchasing an additional 364 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Trading Down 0.7%

NYSE MMC opened at $197.76 on Friday. The stock has a market capitalization of $97.22 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.41 and a beta of 0.80. Marsh & McLennan Companies, Inc. has a one year low of $196.27 and a one year high of $248.00. 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's fifty day moving average is $216.62 and its 200-day moving average is $224.26.

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, topping the consensus estimate of $2.66 by $0.06. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%. The company had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the firm posted $2.41 EPS. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 24th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 24th. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. Marsh & McLennan Companies's payout ratio is presently 43.17%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MMC shares. Barclays cut their target price on Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. UBS Group dropped their price objective on Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Jefferies Financial Group raised their price objective on Marsh & McLennan Companies from $237.00 to $244.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods dropped their price objective on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a research note on Monday, July 21st. Finally, Wells Fargo & Company dropped their price objective on Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Marsh & McLennan Companies has an average rating of "Hold" and a consensus target price of $239.79.

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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