Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• Empirical Financial Services LLC increased its holdings in Marsh & McLennan Companies by 25.7% in Q1, owning 7,137 shares valued at approximately $1.74 million.
• Marsh & McLennan Companies reported quarterly earnings of $2.72 per share, exceeding expectations and showing a 12.1% revenue increase compared to the previous year.
• The company announced a quarterly dividend of $0.90 per share, up from the previous $0.82, boosting its annualized dividend yield to 1.8%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 25.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,137 shares of the financial services provider's stock after acquiring an additional 1,458 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Marsh & McLennan Companies were worth $1,742,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Harbour Investments Inc. raised its stake in shares of Marsh & McLennan Companies by 3.6% during the 1st quarter. Harbour Investments Inc. now owns 1,253 shares of the financial services provider's stock worth $306,000 after buying an additional 44 shares in the last quarter. Brentview Investment Management LLC raised its stake in shares of Marsh & McLennan Companies by 5.2% during the 1st quarter. Brentview Investment Management LLC now owns 17,996 shares of the financial services provider's stock worth $4,392,000 after buying an additional 883 shares in the last quarter. Hoxton Planning & Management LLC purchased a new position in shares of Marsh & McLennan Companies during the 1st quarter worth approximately $202,000. RVW Wealth LLC purchased a new position in shares of Marsh & McLennan Companies during the 1st quarter worth approximately $410,000. Finally, Davis R M Inc. raised its stake in shares of Marsh & McLennan Companies by 11.1% during the 1st quarter. Davis R M Inc. now owns 1,798 shares of the financial services provider's stock worth $439,000 after buying an additional 180 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Price Performance

NYSE:MMC traded down $1.44 during trading hours on Friday, reaching $197.76. 3,514,400 shares of the company traded hands, compared to its average volume of 2,589,960. The firm's 50-day moving average is $216.62 and its 200-day moving average is $224.26. The stock has a market cap of $97.22 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.40 and a beta of 0.77. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.20 and a quick ratio of 1.20. Marsh & McLennan Companies, Inc. has a 1-year low of $196.27 and a 1-year high of $248.00.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.66 by $0.06. The firm had revenue of $6.97 billion for 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%. Marsh & McLennan Companies's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.41 EPS. Equities research analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm 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 dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.8%. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date is Thursday, July 24th. Marsh & McLennan Companies's payout ratio is 43.17%.

Analyst Ratings Changes

MMC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their target price on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a research note on Monday, July 21st. UBS Group dropped their price objective on 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 dropped 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. 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. Finally, Wells Fargo & Company dropped their price objective 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. Two equities research 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 MarketBeat, Marsh & McLennan Companies has an average rating of "Hold" and a consensus price target of $239.79.

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.