iA Global Asset Management Inc. Acquires 48,088 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• iA Global Asset Management Inc. significantly increased its stake in Marsh & McLennan Companies by 451.8%, acquiring an additional 48,088 shares during the first quarter, bringing its total ownership to 58,732 shares valued at approximately $14.3 million.
• Marsh & McLennan Companies recently announced a quarterly dividend increase to $0.90, up from $0.82, which reflects an annualized dividend yield of 1.8% and a payout ratio of 43.17%.
• The company's stock performance shows a market cap of $97.86 billion, with a 52-week range between $196.27 and $248.00, and the latest earnings report featured an EPS of $2.72, surpassing estimates.

iA Global Asset Management Inc. raised its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 451.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,732 shares of the financial services provider's stock after purchasing an additional 48,088 shares during the period. iA Global Asset Management Inc.'s holdings in Marsh & McLennan Companies were worth $14,332,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MMC. Accent Capital Management LLC purchased a new stake in shares of Marsh & McLennan Companies during the first quarter worth $25,000. Ameriflex Group Inc. bought a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at $37,000. City Holding Co. bought a new position in Marsh & McLennan Companies in the 1st quarter worth about $37,000. Transce3nd LLC bought a new stake in shares of Marsh & McLennan Companies during the fourth quarter valued at about $39,000. Finally, Garde Capital Inc. bought a new position in shares of Marsh & McLennan Companies in the first quarter valued at approximately $42,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Marsh & McLennan Companies Trading Up 1.7%

MMC stock traded up $3.49 during trading on Wednesday, hitting $203.99. 3,756,576 shares of the company traded hands, compared to its average volume of 2,766,185. 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 company has a 50-day moving average of $215.40 and a 200-day moving average of $224.12. The firm has a market capitalization of $100.28 billion, a PE ratio of 24.46, a P/E/G ratio of 2.43 and a beta of 0.77. 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 issued its earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $6.92 billion. During the same quarter last year, the business earned $2.41 earnings per share. The business's revenue was up 12.1% on a year-over-year basis. Analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently announced 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 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%. The ex-dividend date is Thursday, July 24th. Marsh & McLennan Companies's dividend payout ratio (DPR) is currently 43.17%.

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.