Korea Investment CORP Raises Stake in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Korea Investment CORP increased its stake in Marsh & McLennan Companies by 5.0%, owning 324,608 shares valued at approximately $79.2 million.
• The company reported earnings per share of $2.72, exceeding analysts' estimates, and achieved a 12.1% increase in revenue year-over-year.
• Marsh & McLennan Companies announced a quarterly dividend increase to $0.90 per share, up from $0.82, reflecting a 1.7% yield.

Korea Investment CORP boosted its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 5.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 324,608 shares of the financial services provider's stock after purchasing an additional 15,442 shares during the period. Korea Investment CORP owned approximately 0.07% of Marsh & McLennan Companies worth $79,214,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of MMC. Accent Capital Management LLC acquired a new stake in shares of Marsh & McLennan Companies in the first quarter valued at about $25,000. Knuff & Co LLC acquired a new stake in shares of Marsh & McLennan Companies in the first quarter valued at about $28,000. Ameriflex Group Inc. acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at about $37,000. City Holding Co. acquired a new stake in shares of Marsh & McLennan Companies in the first quarter valued at about $37,000. Finally, Transce3nd LLC acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at about $39,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Price Performance

Marsh & McLennan Companies stock opened at $207.29 on Monday. Marsh & McLennan Companies, Inc. has a 1 year low of $196.27 and a 1 year high of $248.00. The firm has a 50 day moving average price of $211.14 and a 200 day moving average price of $223.38. The company has a market cap of $101.91 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 2.58 and a beta of 0.77. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.20 and a current ratio of 1.20.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last released 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. 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 the consensus estimate of $6.92 billion. During the same period in the previous year, the firm earned $2.41 earnings per share. Marsh & McLennan Companies's revenue was up 12.1% compared to the same quarter last year. Sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 24th were issued a $0.90 dividend. The ex-dividend date was Thursday, July 24th. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.82. This represents a $3.60 dividend on an annualized basis and a yield of 1.7%. Marsh & McLennan Companies's payout ratio is presently 43.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MMC shares. Citigroup assumed coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set a "neutral" rating and a $226.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set an "overweight" rating and a $256.00 target price for the company. Wells Fargo & Company cut their target price on shares of Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Keefe, Bruyette & Woods cut their target price on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a research report on Monday, July 21st. Finally, Barclays cut 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, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has an average rating of "Hold" and an average target price of $239.94.

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.

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