Marsh & McLennan Companies, Inc. $MMC Stake Lowered by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P has reduced its stake in Marsh & McLennan Companies by 3.9%, now holding 83,247 shares worth approximately $20.3 million.
• The company has increased its quarterly dividend from $0.82 to $0.90 per share, reflecting strong financial performance with a 12.1% year-over-year revenue growth.
• Marsh & McLennan's stock performance shows a current market capitalization of $103.77 billion and a recent earnings report indicated EPS of $2.72, above estimates.

Martingale Asset Management L P cut its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,247 shares of the financial services provider's stock after selling 3,410 shares during the period. Martingale Asset Management L P's holdings in Marsh & McLennan Companies were worth $20,315,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its position in Marsh & McLennan Companies by 670.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 300,477 shares of the financial services provider's stock worth $73,326,000 after purchasing an additional 261,464 shares during the period. Capital Fund Management S.A. lifted its position in Marsh & McLennan Companies by 940.4% in the first quarter. Capital Fund Management S.A. now owns 30,255 shares of the financial services provider's stock worth $7,383,000 after purchasing an additional 33,855 shares during the period. Capital Analysts LLC lifted its position in Marsh & McLennan Companies by 61.0% in the first quarter. Capital Analysts LLC now owns 169 shares of the financial services provider's stock worth $41,000 after purchasing an additional 64 shares during the period. Erste Asset Management GmbH lifted its position in Marsh & McLennan Companies by 3.5% in the first quarter. Erste Asset Management GmbH now owns 366,489 shares of the financial services provider's stock worth $89,196,000 after purchasing an additional 12,514 shares during the period. Finally, Humankind Investments LLC acquired a new stake in Marsh & McLennan Companies in the first quarter worth approximately $211,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Down 0.3%

NYSE:MMC traded down $0.7270 during trading hours on Friday, hitting $210.3830. 1,467,076 shares of the stock traded hands, compared to its average volume of 2,517,538. The firm has a 50 day moving average price of $210.28 and a 200 day moving average price of $222.98. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.27 and a fifty-two week high of $248.00. The firm has a market cap of $103.43 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 2.63 and a beta of 0.77.

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. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The company had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the business earned $2.41 EPS. The company's revenue was up 12.1% on a year-over-year basis. Equities research 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. Stockholders of record on Thursday, July 24th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, July 24th. This represents a $3.60 annualized dividend and a dividend yield of 1.7%. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.82. Marsh & McLennan Companies's dividend payout ratio is presently 43.17%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MMC shares. Wells Fargo & Company cut their target price on Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. UBS Group dropped their price target on Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating on the stock in a report on Monday, July 21st. Citigroup started coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price target on the stock. Cantor Fitzgerald started coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 price target on the stock. Finally, Keefe, Bruyette & Woods dropped their price target 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. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Marsh & McLennan Companies presently has an average rating of "Hold" and an average target price of $238.76.

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.