National Bank of Canada FI Cuts Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• National Bank of Canada FI reduced its stake in Marsh & McLennan Companies, Inc. by 28.3%, selling 185,674 shares, and now owns approximately 0.10% of the company worth $114.75 million.
• Several other institutional investors have significantly increased their stakes in Marsh & McLennan, with GAMMA Investing LLC raising its investment by over 32,120% during the same period.
• The company recently announced a quarterly dividend increase to $0.90 per share, reflecting a 10% rise from the previous dividend amount, with a dividend yield of 1.8%.

National Bank of Canada FI trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 28.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 470,235 shares of the financial services provider's stock after selling 185,674 shares during the quarter. National Bank of Canada FI owned 0.10% of Marsh & McLennan Companies worth $114,751,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMC. Accent Capital Management LLC purchased a new stake in Marsh & McLennan Companies in the 1st quarter worth about $25,000. Ameriflex Group Inc. purchased a new position in shares of Marsh & McLennan Companies during the fourth quarter worth approximately $37,000. City Holding Co. purchased a new position in shares of Marsh & McLennan Companies during the first quarter worth approximately $37,000. Transce3nd LLC purchased a new position in shares of Marsh & McLennan Companies during the fourth quarter worth approximately $39,000. Finally, Garde Capital Inc. purchased a new position in shares of Marsh & McLennan Companies during the first quarter worth approximately $42,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Stock Performance

Shares of NYSE:MMC traded up $1.26 on Tuesday, hitting $204.61. 2,468,833 shares of the company were exchanged, compared to its average volume of 2,299,691. Marsh & McLennan Companies, Inc. has a 1-year low of $196.27 and a 1-year high of $248.00. The stock's 50 day moving average price is $213.10 and its 200 day moving average price is $223.77. 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 firm has a market capitalization of $100.59 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 2.54 and a beta of 0.77.

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 EPS for the quarter, topping 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 business had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the firm posted $2.41 earnings per share. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side 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 announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 24th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.8%. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Thursday, July 24th. Marsh & McLennan Companies's dividend payout ratio is 43.17%.

Wall Street Analyst Weigh In

MMC has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating on the stock in a research report on Friday, July 18th. UBS Group reduced their target price on shares of Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Barclays dropped their price objective 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, July 7th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a research note on Monday, July 21st. 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.com, Marsh & McLennan Companies has an average rating of "Hold" and an average target price 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.