First Manhattan CO. LLC. Has $5.92 Million Holdings in Marsh & McLennan Companies, Inc. $MMC

Key Points

• First Manhattan CO. LLC increased its holdings in Marsh & McLennan Companies by 73.0%, owning 24,252 shares valued at approximately $5.92 million as of the latest SEC filing.
• Marsh & McLennan reported a quarterly EPS of $2.72, exceeding estimates and achieving a 12.1% year-over-year revenue growth to $6.97 billion.
• The company declared a quarterly dividend of $0.90 per share, a notable increase from the previous $0.82, representing an annualized yield of 1.8%.

First Manhattan CO. LLC. lifted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 73.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,252 shares of the financial services provider's stock after buying an additional 10,231 shares during the quarter. First Manhattan CO. LLC.'s holdings in Marsh & McLennan Companies were worth $5,918,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Accent Capital Management LLC acquired a new stake in shares of Marsh & McLennan Companies during the first quarter worth $25,000. Knuff & Co LLC acquired a new stake in shares of Marsh & McLennan Companies during the first quarter worth $28,000. Activest Wealth Management grew its holdings 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 during the period. Ameriflex Group Inc. acquired a new stake in Marsh & McLennan Companies in the fourth quarter worth $37,000. Finally, City Holding Co. acquired a new stake in Marsh & McLennan Companies in the first quarter worth $37,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Down 0.4%

Shares of NYSE MMC opened at $205.71 on Tuesday. The stock has a market capitalization of $101.13 billion, a P/E ratio of 24.67, a P/E/G ratio of 2.58 and a beta of 0.81. The company has a 50-day moving average price of $209.11 and a 200-day moving average price of $222.02. Marsh & McLennan Companies, Inc. has a 1 year low of $196.27 and a 1 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.

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 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $6.92 billion. During the same period last year, the company earned $2.41 earnings per share. The business's revenue was up 12.1% on a year-over-year basis. On average, equities 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 declared 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. The ex-dividend date of this dividend was Thursday, July 24th. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.82. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.8%. Marsh & McLennan Companies's payout ratio is 43.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MMC shares. Cantor Fitzgerald started coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 price target for the company. Citigroup started coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price target for the company. Barclays reduced their price target on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. Morgan Stanley reduced their price target on shares of Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Finally, UBS Group reduced 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 report on Monday, July 21st. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Marsh & McLennan Companies currently has an average rating of "Hold" and a consensus price target of $238.76.

Marsh & McLennan Companies Company 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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