Marsh & McLennan Companies, Inc. $MMC Shares Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Marsh & McLennan Companies by 9.2% in Q2, owning 64,554 shares valued at $14.11 million.
• Institutional investors and hedge funds control 87.99% of Marsh & McLennan Companies' stock, with significant increases in stakes by firms like Wellington Management and Assenagon Asset Management.
• Marsh & McLennan reported a 12.1% year-over-year increase in revenue for the latest quarter, totaling $6.97 billion, and announced a quarterly dividend of $0.90 per share.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,554 shares of the financial services provider's stock after acquiring an additional 5,463 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Marsh & McLennan Companies were worth $14,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MMC. Wellington Management Group LLP raised its stake in shares of Marsh & McLennan Companies by 54.2% during the 1st quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider's stock worth $3,127,193,000 after buying an additional 4,505,548 shares in the last quarter. Nuveen LLC purchased a new position in shares of Marsh & McLennan Companies during the 1st quarter worth approximately $1,038,594,000. Ninety One UK Ltd raised its stake in shares of Marsh & McLennan Companies by 153.6% during the 1st quarter. Ninety One UK Ltd now owns 2,370,678 shares of the financial services provider's stock worth $578,517,000 after buying an additional 1,436,044 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Marsh & McLennan Companies by 5,035.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 808,800 shares of the financial services provider's stock worth $176,836,000 after buying an additional 793,052 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Marsh & McLennan Companies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 45,321,445 shares of the financial services provider's stock worth $11,059,792,000 after buying an additional 581,930 shares in the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MMC has been the subject of a number of analyst reports. Morgan Stanley cut their target price on Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Citigroup initiated coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They set a "neutral" rating and a $226.00 target price on the stock. Cantor Fitzgerald started coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They set an "overweight" rating and a $256.00 target price on the stock. Keefe, Bruyette & Woods lowered their price objective on 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, UBS Group lowered their price objective on Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating for the company in a research report on Monday, July 21st. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $238.76.

Marsh & McLennan Companies Stock Up 0.8%

Shares of Marsh & McLennan Companies stock opened at $201.25 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.19. The firm has a market cap of $98.94 billion, a P/E ratio of 24.13, a P/E/G ratio of 2.53 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a fifty-two week low of $195.01 and a fifty-two week high of $248.00. The business has a 50-day moving average price of $202.96 and a 200 day moving average price of $216.63.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.06. The firm had revenue of $6.97 billion during 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 quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.41 earnings per share. On average, sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 annualized dividend and a dividend yield of 1.8%. Marsh & McLennan Companies's dividend payout ratio is 43.17%.

Insider Activity at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 21,079 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the completion of the transaction, the chief executive officer directly owned 87,681 shares of the company's stock, valued at approximately $18,031,597.65. This represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.35% of the company's stock.

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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