Pacer Advisors Inc. Sells 15,765 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• Pacer Advisors Inc. has reduced its stake in Marsh & McLennan Companies, Inc. by 32.7%, selling 15,765 shares and now holding a total of 32,497 shares worth approximately $7.93 million.
• The company recently announced a quarterly dividend increase to $0.90 per share, up from $0.82, marking an annualized dividend yield of 1.71%.
• Marsh & McLennan's stock performance shows a market cap of $103.43 billion and a 1-year high of $248.00, though analysts have mixed ratings with a consensus of "Hold" and an average target price of $239.79.

Pacer Advisors Inc. trimmed its position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 32.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,497 shares of the financial services provider's stock after selling 15,765 shares during the period. Pacer Advisors Inc.'s holdings in Marsh & McLennan Companies were worth $7,930,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its position in Marsh & McLennan Companies by 12.6% in the first quarter. Cetera Investment Advisers now owns 104,188 shares of the financial services provider's stock valued at $25,425,000 after acquiring an additional 11,668 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Marsh & McLennan Companies by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 29,295 shares of the financial services provider's stock valued at $7,149,000 after acquiring an additional 507 shares in the last quarter. Hamilton Point Investment Advisors LLC grew its position in Marsh & McLennan Companies by 8.9% in the first quarter. Hamilton Point Investment Advisors LLC now owns 5,174 shares of the financial services provider's stock valued at $1,263,000 after acquiring an additional 425 shares in the last quarter. Journey Strategic Wealth LLC grew its position in Marsh & McLennan Companies by 3.2% in the first quarter. Journey Strategic Wealth LLC now owns 4,513 shares of the financial services provider's stock valued at $1,101,000 after acquiring an additional 141 shares in the last quarter. Finally, Machina Capital S.A.S. grew its position in Marsh & McLennan Companies by 72.8% in the first quarter. Machina Capital S.A.S. now owns 11,035 shares of the financial services provider's stock valued at $2,693,000 after acquiring an additional 4,649 shares in the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Trading Down 1.8%

Shares of NYSE:MMC traded down $3.70 during midday trading on Tuesday, hitting $202.57. The company had a trading volume of 4,764,589 shares, compared to its average volume of 2,259,589. Marsh & McLennan Companies, Inc. has a 12 month low of $201.51 and a 12 month high of $248.00. 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 stock has a market cap of $99.59 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 2.55 and a beta of 0.80. The firm has a fifty day simple moving average of $218.98 and a 200 day simple moving average of $224.77.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its 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. The firm had revenue of $6.97 billion for 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%. The company's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.41 earnings per share. On average, analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 1.78%. The ex-dividend date is Thursday, July 24th. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.82. Marsh & McLennan Companies's payout ratio is 43.17%.

Analysts Set New Price Targets

Several brokerages have weighed in on MMC. Jefferies Financial Group raised their price objective on shares of Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company lowered their price objective on 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. Keefe, Bruyette & Woods reduced their target price on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a report on Monday, July 21st. Barclays lowered their price target 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. Finally, UBS Group reduced their price objective on Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Marsh & McLennan Companies has an average rating of "Hold" and a consensus 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.