M&T Bank Corp boosted its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,639 shares of the financial services provider's stock after purchasing an additional 1,280 shares during the period. M&T Bank Corp's holdings in Marsh & McLennan Companies were worth $11,381,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Ameriflex Group Inc. acquired a new position in Marsh & McLennan Companies in the 4th quarter worth approximately $37,000. City Holding Co. acquired a new stake in shares of Marsh & McLennan Companies in the first quarter worth $37,000. Transce3nd LLC acquired a new position in Marsh & McLennan Companies during the fourth quarter valued at $39,000. Garde Capital Inc. purchased a new stake in Marsh & McLennan Companies in the first quarter valued at $42,000. Finally, First Pacific Financial grew its position in Marsh & McLennan Companies by 133.8% during the 1st quarter. First Pacific Financial now owns 187 shares of the financial services provider's stock worth $46,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 87.99% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their price target on Marsh & McLennan Companies from $237.00 to $244.00 and gave the company a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company increased their price target on shares of Marsh & McLennan Companies from $228.00 to $229.00 and gave the stock an "equal weight" rating in a report on Thursday. Keefe, Bruyette & Woods cut their price objective on shares of Marsh & McLennan Companies from $215.00 to $214.00 and set an "underperform" rating for the company in a report on Wednesday. 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. Finally, UBS Group lifted their price target on Marsh & McLennan Companies from $259.00 to $261.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $240.50.
Check Out Our Latest Research Report on MMC
Marsh & McLennan Companies Price Performance
Shares of NYSE MMC traded down $3.09 during midday trading on Friday, hitting $211.62. The stock had a trading volume of 2,234,444 shares, compared to its average volume of 1,977,617. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.32. The stock has a 50 day simple moving average of $222.70 and a 200-day simple moving average of $224.68. The company has a market capitalization of $104.27 billion, a PE ratio of 25.93, a P/E/G ratio of 2.63 and a beta of 0.80. Marsh & McLennan Companies, Inc. has a 1 year low of $207.21 and a 1 year high of $248.00.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates of $3.02 by $0.04. Marsh & McLennan Companies had a return on equity of 32.19% and a net margin of 16.13%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.08 billion. During the same quarter last year, the firm posted $2.89 EPS. On average, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 24th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.70%. The ex-dividend date is Thursday, July 24th. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. Marsh & McLennan Companies's dividend payout ratio is currently 39.95%.
Marsh & McLennan Companies Profile
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Free Report)
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.
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