Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Marsh & McLennan Companies by 11.8% during Q1, owning 891,714 shares valued at approximately $217.6 million.
• Marsh & McLennan Companies recently announced a quarterly dividend of $0.90, reflecting a positive change from the previous quarterly dividend of $0.82, with a dividend yield of 1.8%.
• The company's Q2 earnings exceeded expectations, reporting an EPS of $2.72 against a consensus estimate of $2.66, alongside revenue of $6.97 billion.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 11.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 891,714 shares of the financial services provider's stock after purchasing an additional 93,928 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Marsh & McLennan Companies worth $217,604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MMC. Y.D. More Investments Ltd boosted its holdings in Marsh & McLennan Companies by 13.9% in the 1st quarter. Y.D. More Investments Ltd now owns 690 shares of the financial services provider's stock worth $168,000 after buying an additional 84 shares during the period. Ironwood Investment Counsel LLC boosted its holdings in Marsh & McLennan Companies by 0.9% in the 1st quarter. Ironwood Investment Counsel LLC now owns 5,749 shares of the financial services provider's stock worth $1,403,000 after buying an additional 53 shares during the period. CenterBook Partners LP bought a new position in Marsh & McLennan Companies in the 1st quarter worth $1,284,000. Charles Schwab Investment Management Inc. boosted its holdings in Marsh & McLennan Companies by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,858,136 shares of the financial services provider's stock worth $697,471,000 after buying an additional 65,778 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new position in Marsh & McLennan Companies in the 1st quarter worth $27,894,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Price Performance

Shares of NYSE MMC traded up $0.39 during mid-day trading on Friday, hitting $203.70. 2,219,215 shares of the company's stock traded hands, compared to its average volume of 2,901,012. The company's 50-day moving average is $213.73 and its two-hundred day moving average is $223.79. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $100.14 billion, a P/E ratio of 24.42, a PEG ratio of 2.46 and a beta of 0.77. Marsh & McLennan Companies, Inc. has a 1 year low of $196.27 and a 1 year high of $248.00.

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, beating the consensus estimate of $2.66 by $0.06. The firm had revenue of $6.97 billion for the quarter, compared to analysts' expectations of $6.92 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The business's revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.41 EPS. On average, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company 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 $0.90 dividend. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $3.60 dividend on an annualized basis and a yield of 1.8%. Marsh & McLennan Companies's dividend payout ratio is currently 43.17%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MMC. Keefe, Bruyette & Woods dropped 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 report on Monday, July 21st. Wells Fargo & Company dropped 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 report on Friday, July 18th. UBS Group dropped their price objective on shares of Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating for the company in a report on Monday, July 21st. Jefferies Financial Group increased their price objective on shares of Marsh & McLennan Companies from $237.00 to $244.00 and gave the company a "hold" rating in a report on Friday, April 11th. Finally, Barclays dropped their price objective on shares of 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $239.79.

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.