Goldman Sachs Group Inc. Acquires 340,907 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• Goldman Sachs Group Inc. increased its stake in Marsh & McLennan Companies by 8.5% during the first quarter, owning approximately $1.06 billion worth of shares after acquiring an additional 340,907 shares.
• Marsh & McLennan recently increased its quarterly dividend from $0.82 to $0.90 per share, reflecting a 1.8% yield and a payout ratio of 43.17%.
• Despite recent fluctuations in price targets from analysts, the stock has an average rating of "Hold" and an average price target of $238.76.

Goldman Sachs Group Inc. raised its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 8.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,345,211 shares of the financial services provider's stock after buying an additional 340,907 shares during the quarter. Goldman Sachs Group Inc. owned about 0.88% of Marsh & McLennan Companies worth $1,060,362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Marsh & McLennan Companies by 54.2% in 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 purchasing an additional 4,505,548 shares in the last quarter. Nuveen LLC bought a new position in shares of Marsh & McLennan Companies in the first quarter worth $1,038,594,000. GAMMA Investing LLC raised its position in shares of Marsh & McLennan Companies by 32,120.9% in the first quarter. GAMMA Investing LLC now owns 1,515,670 shares of the financial services provider's stock worth $369,869,000 after buying an additional 1,510,966 shares in the last quarter. Ninety One UK Ltd boosted its stake in Marsh & McLennan Companies by 153.6% during the first quarter. Ninety One UK Ltd now owns 2,370,678 shares of the financial services provider's stock valued at $578,517,000 after buying an additional 1,436,044 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 buying an additional 609,602 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Trading Down 1.6%

Shares of Marsh & McLennan Companies stock traded down $3.21 during trading on Wednesday, reaching $198.67. The company's stock had a trading volume of 2,529,194 shares, compared to its average volume of 1,767,458. 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, Inc. has a 52-week low of $196.27 and a 52-week high of $248.00. The firm's 50-day moving average is $207.50 and its two-hundred day moving average is $221.00. The company has a market cap of $97.67 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 2.54 and a beta of 0.81.

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 for the quarter, topping 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 period in the previous year, the firm posted $2.41 earnings per share. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 24th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.8%. The ex-dividend date was 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 is 43.17%.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the business'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 value of $4,334,896.35. Following the completion of the sale, the chief executive officer owned 87,681 shares in the company, valued at approximately $18,031,597.65. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MMC shares. UBS Group dropped their price target 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. Barclays lowered their target price on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Cantor Fitzgerald initiated coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating on the stock in a research report on Friday, July 18th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $238.76.

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.