Marsh & McLennan Companies, Inc. $MMC Shares Sold by OFI Invest Asset Management

Key Points

• OFI Invest Asset Management significantly reduced its holdings in Marsh & McLennan Companies by 82.7%, owning only 490 shares at the end of the second quarter.
• The company reported quarterly earnings of $2.72 EPS, surpassing expectations and demonstrating a 12.1% revenue increase year-over-year.
• Marsh & McLennan Companies declared a quarterly dividend of $0.90 per share, resulting in an annualized yield of 1.7%.

OFI Invest Asset Management reduced its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 82.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 490 shares of the financial services provider's stock after selling 2,337 shares during the period. OFI Invest Asset Management's holdings in Marsh & McLennan Companies were worth $107,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Franklin Parlapiano Turner & Welch LLC grew its holdings in Marsh & McLennan Companies by 2.8% in the second quarter. Franklin Parlapiano Turner & Welch LLC now owns 34,772 shares of the financial services provider's stock valued at $7,603,000 after purchasing an additional 938 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Marsh & McLennan Companies by 13.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 67,440 shares of the financial services provider's stock worth $14,747,000 after acquiring an additional 7,772 shares during the last quarter. Oak Ridge Investments LLC boosted its stake in shares of Marsh & McLennan Companies by 1.3% in the second quarter. Oak Ridge Investments LLC now owns 32,857 shares of the financial services provider's stock worth $7,184,000 after acquiring an additional 407 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Marsh & McLennan Companies by 14.8% in the second quarter. Concurrent Investment Advisors LLC now owns 12,793 shares of the financial services provider's stock worth $2,797,000 after acquiring an additional 1,651 shares during the last quarter. Finally, Lindenwold Advisors INC boosted its stake in shares of Marsh & McLennan Companies by 3.5% in the second quarter. Lindenwold Advisors INC now owns 14,932 shares of the financial services provider's stock worth $3,265,000 after acquiring an additional 508 shares during the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.

Marsh & McLennan Companies Price Performance

MMC stock opened at $207.12 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $101.82 billion, a PE ratio of 24.83, a P/E/G ratio of 2.60 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a 12-month low of $195.01 and a 12-month high of $248.00. The business's fifty day moving average price is $203.29 and its 200 day moving average price is $215.37.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.06. The firm had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.92 billion. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%.The company's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.41 EPS. On average, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, October 2nd. This represents a $3.60 annualized dividend and a yield of 1.7%. 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 company's stock in a transaction dated 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 sale, the chief executive officer owned 87,681 shares in the company, valued at $18,031,597.65. This represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MMC. Wolfe Research began coverage on Marsh & McLennan Companies in a research note on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Cantor Fitzgerald began coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 price target on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Marsh & McLennan Companies in a research note on Wednesday, October 8th. UBS Group lowered their price objective on Marsh & McLennan Companies from $258.00 to $257.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their price objective on Marsh & McLennan Companies from $226.00 to $222.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $237.13.

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.

Want to see what other hedge funds are holding MMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.