Mackenzie Financial Corp Sells 38,799 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• Mackenzie Financial Corp reduced its stake in Marsh & McLennan Companies by 5.0%, ending the first quarter with 731,080 shares valued at approximately $178.41 million.
• Marsh & McLennan reported a 12.1% year-over-year increase in revenue, totaling $6.97 billion, and its quarterly earnings surpassed analyst expectations.
• The firm announced a quarterly dividend increase to $0.90 per share, reflecting a yield of 1.71%, set to be paid on August 15th.

Mackenzie Financial Corp decreased its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 731,080 shares of the financial services provider's stock after selling 38,799 shares during the period. Mackenzie Financial Corp owned approximately 0.15% of Marsh & McLennan Companies worth $178,405,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Marsh & McLennan Companies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 12,050,565 shares of the financial services provider's stock worth $2,554,841,000 after purchasing an additional 145,134 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Marsh & McLennan Companies by 1.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,151,020 shares of the financial services provider's stock valued at $2,156,179,000 after purchasing an additional 96,750 shares in the last quarter. Northern Trust Corp raised its position in shares of Marsh & McLennan Companies by 14.0% during the fourth quarter. Northern Trust Corp now owns 5,934,340 shares of the financial services provider's stock worth $1,260,513,000 after acquiring an additional 726,713 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Marsh & McLennan Companies by 13.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,218,488 shares of the financial services provider's stock worth $1,108,459,000 after acquiring an additional 609,602 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Marsh & McLennan Companies by 7.2% in the fourth quarter. Nuveen Asset Management LLC now owns 4,581,773 shares of the financial services provider's stock worth $973,214,000 after purchasing an additional 308,759 shares in the last quarter. Institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Stock Down 1.9%

Shares of NYSE:MMC traded down $4.04 during trading on Monday, hitting $206.36. The stock had a trading volume of 2,483,152 shares, compared to its average volume of 2,444,845. Marsh & McLennan Companies, Inc. has a 12 month low of $205.89 and a 12 month high of $248.00. The company has a market capitalization of $101.45 billion, a PE ratio of 24.74, a PEG ratio of 2.55 and a beta of 0.80. The firm's fifty day moving average is $218.98 and its 200 day moving average is $224.77. The company has a quick ratio of 1.20, a current 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, topping the consensus estimate of $2.66 by $0.06. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%. The firm had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the company earned $2.41 EPS. The business's revenue was up 12.1% compared to the same quarter last year. Analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 24th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, July 24th. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.82. Marsh & McLennan Companies's dividend payout ratio (DPR) is 43.17%.

Analysts Set New Price Targets

MMC has been the subject of a number of research analyst reports. Barclays lowered 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. Keefe, Bruyette & Woods cut 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. Wells Fargo & Company lowered 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. Jefferies Financial Group upped their target price on Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Finally, UBS Group cut their price objective 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 equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $239.79.

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.