Jennison Associates LLC Sells 240,364 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Jennison Associates LLC cut its position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 42.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 323,341 shares of the financial services provider's stock after selling 240,364 shares during the quarter. Jennison Associates LLC owned approximately 0.07% of Marsh & McLennan Companies worth $78,905,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Parisi Gray Wealth Management acquired a new stake in Marsh & McLennan Companies in the 1st quarter valued at about $947,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Marsh & McLennan Companies by 101.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 103,551 shares of the financial services provider's stock worth $25,270,000 after purchasing an additional 52,218 shares in the last quarter. Penserra Capital Management LLC raised its position in Marsh & McLennan Companies by 101.4% during the first quarter. Penserra Capital Management LLC now owns 7,136 shares of the financial services provider's stock worth $1,741,000 after acquiring an additional 3,593 shares in the last quarter. US Asset Management LLC raised its position in Marsh & McLennan Companies by 23.1% during the first quarter. US Asset Management LLC now owns 6,847 shares of the financial services provider's stock worth $1,671,000 after acquiring an additional 1,284 shares in the last quarter. Finally, Annex Advisory Services LLC increased its holdings in shares of Marsh & McLennan Companies by 2.1% in the first quarter. Annex Advisory Services LLC now owns 63,300 shares of the financial services provider's stock valued at $15,447,000 after purchasing an additional 1,288 shares during the last quarter. 87.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on MMC shares. UBS Group upped their price target on shares of Marsh & McLennan Companies from $259.00 to $261.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Jefferies Financial Group increased 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 dropped their target price on shares of Marsh & McLennan Companies from $215.00 to $214.00 and set an "underperform" rating for the company in a report on Wednesday, July 9th. Wells Fargo & Company dropped their price objective on shares of Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating for the company in a report on Friday. Finally, Barclays dropped their price objective 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Marsh & McLennan Companies currently has an average rating of "Hold" and an average price target of $240.29.

Marsh & McLennan Companies Trading Up 0.7%

Shares of MMC stock traded up $1.43 during trading hours on Friday, hitting $212.47. 3,524,077 shares of the company were exchanged, compared to its average volume of 2,003,678. The company has a 50 day simple moving average of $221.16 and a two-hundred day simple moving average of $224.64. Marsh & McLennan Companies, Inc. has a fifty-two week low of $207.21 and a fifty-two week high of $248.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.14 and a current ratio of 1.20. The firm has a market cap of $104.69 billion, a P/E ratio of 25.48, a P/E/G ratio of 2.59 and a beta of 0.80.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter last year, the firm posted $2.41 EPS. Marsh & McLennan Companies's revenue was up 12.1% compared to the same quarter last year. Equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 24th will be paid a dividend of $0.90 per share. 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. This represents a $3.60 annualized dividend and a yield of 1.69%. Marsh & McLennan Companies's dividend payout ratio (DPR) is 39.95%.

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.