Navera Investment Management Ltd. Buys 6,710 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• Navera Investment Management Ltd. increased its stake in Marsh & McLennan Companies by 0.4%, acquiring an additional 6,710 shares, bringing their total to approximately 1.52 million shares.
• Marsh & McLennan Companies reported earnings of $2.72 per share for the quarter, surpassing analysts' expectations, with revenue reaching $6.97 billion, reflecting a year-over-year increase of 12.1%.
• The company declared a quarterly dividend of $0.90 per share, with the ex-dividend date set for October 2nd, representing an annualized dividend yield of 1.8%.

Navera Investment Management Ltd. increased its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,518,006 shares of the financial services provider's stock after acquiring an additional 6,710 shares during the period. Marsh & McLennan Companies makes up about 6.0% of Navera Investment Management Ltd.'s holdings, making the stock its 3rd largest holding. Navera Investment Management Ltd. owned about 0.31% of Marsh & McLennan Companies worth $331,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Marsh & McLennan Companies by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,321,445 shares of the financial services provider's stock valued at $11,059,792,000 after acquiring an additional 581,930 shares in the last quarter. Wellington Management Group LLP raised its stake in Marsh & McLennan Companies by 54.2% in the first quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider's stock valued at $3,127,193,000 after buying an additional 4,505,548 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Marsh & McLennan Companies by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,345,211 shares of the financial services provider's stock valued at $1,060,362,000 after buying an additional 340,907 shares in the last quarter. Nuveen LLC acquired a new stake in Marsh & McLennan Companies in the first quarter valued at $1,038,594,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Marsh & McLennan Companies by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,858,136 shares of the financial services provider's stock valued at $697,471,000 after buying an additional 65,778 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $203.76 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.20 and a current ratio of 1.20. Marsh & McLennan Companies, Inc. has a 1 year low of $195.01 and a 1 year high of $248.00. The stock's 50-day moving average is $202.88 and its two-hundred day moving average is $216.21. The firm has a market cap of $100.17 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.53 and a beta of 0.81.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $0.06. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%.The firm had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the company posted $2.41 earnings per share. The business's revenue was up 12.1% on a year-over-year basis. Analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.8%. Marsh & McLennan Companies's dividend payout ratio (DPR) is currently 43.17%.

Insider Activity

In related news, CEO John Q. Doyle sold 21,079 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the transaction, the chief executive officer owned 87,681 shares of the company's stock, valued at $18,031,597.65. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings restated a "hold (c+)" rating on shares of Marsh & McLennan Companies in a research note on Saturday, September 27th. Cantor Fitzgerald assumed coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 price target on the stock. UBS Group cut their price target 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. Citigroup assumed coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They set a "neutral" rating and a $226.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on Marsh & McLennan Companies from $220.00 to $215.00 and set an "equal weight" rating on the stock in a report on Tuesday. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $238.47.

About Marsh & McLennan Companies

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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