DAVENPORT & Co LLC Purchases 2,130 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• DAVENPORT & Co LLC raised its holdings in Marsh & McLennan Companies by 2.1%, now owning 103,005 shares worth approximately $22.52 million.
• Marsh & McLennan reported a Q2 EPS of $2.72, exceeding analyst expectations of $2.66, with revenues of $6.97 billion, marking a 12.1% year-over-year increase.
• The company announced a quarterly dividend of $0.90 per share, reflecting a 1.8% dividend yield, to be paid on November 14th to shareholders on record as of October 2nd.

DAVENPORT & Co LLC raised its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 2.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 103,005 shares of the financial services provider's stock after buying an additional 2,130 shares during the quarter. DAVENPORT & Co LLC's holdings in Marsh & McLennan Companies were worth $22,521,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Accent Capital Management LLC bought a new position in Marsh & McLennan Companies during the first quarter worth $25,000. Knuff & Co LLC bought a new position in shares of Marsh & McLennan Companies during the 1st quarter worth about $28,000. Activest Wealth Management lifted its stake in shares of 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 valued at $28,000 after buying an additional 111 shares during the period. City Holding Co. bought a new position in Marsh & McLennan Companies during the first quarter valued at about $37,000. Finally, Capital Analysts LLC raised its holdings in Marsh & McLennan Companies by 61.0% in the 1st quarter. Capital Analysts LLC now owns 169 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 64 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Price Performance

Marsh & McLennan Companies stock opened at $201.37 on Tuesday. The business's fifty day moving average is $202.86 and its two-hundred day moving average is $216.30. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $99.00 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.53 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a 52 week low of $195.01 and a 52 week high of $248.00.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.06. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The firm had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the firm earned $2.41 EPS. The company's revenue was up 12.1% on a year-over-year basis. Equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

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

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies 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 transaction, the chief executive officer directly owned 87,681 shares in the company, valued at approximately $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 accessible through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MMC. Weiss Ratings reissued a "hold (c+)" rating on shares of Marsh & McLennan Companies in a report on Saturday, September 27th. Morgan Stanley decreased their price target on shares of Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. UBS Group dropped their price objective on shares of 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. Barclays decreased their target price on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Finally, Wells Fargo & Company cut their price target on shares of 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. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Marsh & McLennan Companies has an average rating of "Hold" and a consensus price target of $238.76.

Marsh & McLennan Companies Profile

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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