King Luther Capital Management Corp Sells 2,954 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• King Luther Capital Management Corp has reduced its holdings in Marsh & McLennan Companies, Inc. by 5.4%, owning 52,242 shares worth approximately $12.75 million after selling 2,954 shares in the first quarter.
• Marsh & McLennan Companies announced a quarterly dividend increase from $0.82 to $0.90, with a planned payment date of August 15th, resulting in an annualized yield of 1.8%.
• Analysts have downgraded price targets for Marsh & McLennan Companies, with Barclays and Wells Fargo adjusting their targets to $233.00 and $226.00 respectively, indicating a shift in market sentiment.

King Luther Capital Management Corp reduced its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,242 shares of the financial services provider's stock after selling 2,954 shares during the period. King Luther Capital Management Corp's holdings in Marsh & McLennan Companies were worth $12,749,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Marsh & McLennan Companies by 51.2% during the fourth quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider's stock valued at $1,856,000 after buying an additional 2,960 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in Marsh & McLennan Companies in the fourth quarter valued at approximately $37,178,000. Federated Hermes Inc. grew its position in shares of Marsh & McLennan Companies by 1.0% during the fourth quarter. Federated Hermes Inc. now owns 16,415 shares of the financial services provider's stock worth $3,487,000 after buying an additional 161 shares in the last quarter. Covestor Ltd grew its position in shares of Marsh & McLennan Companies by 29.1% during the fourth quarter. Covestor Ltd now owns 231 shares of the financial services provider's stock worth $49,000 after buying an additional 52 shares in the last quarter. Finally, Townsquare Capital LLC lifted its stake in Marsh & McLennan Companies by 16.1% during the fourth quarter. Townsquare Capital LLC now owns 11,761 shares of the financial services provider's stock worth $2,498,000 after purchasing an additional 1,631 shares during the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Trading Up 2.4%

Marsh & McLennan Companies stock traded up $4.97 during mid-day trading on Wednesday, hitting $209.38. The stock had a trading volume of 2,069,503 shares, compared to its average volume of 2,891,086. The stock has a 50-day simple moving average of $212.49 and a two-hundred day simple moving average of $223.64. The stock has a market capitalization of $102.94 billion, a PE ratio of 25.11, a P/E/G ratio of 2.55 and a beta of 0.77. Marsh & McLennan Companies, Inc. has a 12 month low of $196.27 and a 12 month high of $248.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its earnings results 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. The business had revenue of $6.97 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.41 EPS. As a group, sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 24th will be paid a $0.90 dividend. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date is Thursday, July 24th. This represents a $3.60 annualized dividend and a yield of 1.7%. Marsh & McLennan Companies's dividend payout ratio is presently 43.17%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MMC. Wells Fargo & Company cut their target price on Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. Cantor Fitzgerald began coverage on Marsh & McLennan Companies in a report on Wednesday. They set an "overweight" rating and a $256.00 price target for the company. Citigroup began coverage on Marsh & McLennan Companies in a report on Wednesday. They issued a "neutral" rating and a $226.00 target price for the company. Barclays reduced their target price on 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. Finally, UBS Group reduced their target price on Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating for the company in a report on Monday, July 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $239.94.

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.