Nuveen LLC Invests $1.04 Billion in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• Nuveen LLC has invested approximately $1.04 billion in Marsh & McLennan Companies, acquiring 4,256,009 shares, which represents about 0.86% of the company.
• Marsh & McLennan Companies recently announced a quarterly dividend increase to $0.90 per share, up from $0.82, with a dividend yield of 1.8%.
• The company beat analyst expectations in its latest quarterly earnings report, posting an EPS of $2.72 compared to the consensus estimate of $2.66.

Nuveen LLC bought a new stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,256,009 shares of the financial services provider's stock, valued at approximately $1,038,594,000. Nuveen LLC owned approximately 0.86% of Marsh & McLennan Companies as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMC. Parisi Gray Wealth Management purchased a new position in shares of Marsh & McLennan Companies during the first quarter valued at $947,000. Wealth Enhancement Advisory Services LLC boosted its position in Marsh & McLennan Companies by 101.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 103,551 shares of the financial services provider's stock valued at $25,270,000 after purchasing an additional 52,218 shares during the last quarter. LPL Financial LLC boosted its position in Marsh & McLennan Companies by 9.9% during the first quarter. LPL Financial LLC now owns 324,035 shares of the financial services provider's stock valued at $78,662,000 after purchasing an additional 29,247 shares during the last quarter. Penserra Capital Management LLC boosted its position in Marsh & McLennan Companies by 101.4% during the first quarter. Penserra Capital Management LLC now owns 7,136 shares of the financial services provider's stock valued at $1,741,000 after purchasing an additional 3,593 shares during the last quarter. Finally, US Asset Management LLC raised its holdings in Marsh & McLennan Companies by 23.1% during the first quarter. US Asset Management LLC now owns 6,847 shares of the financial services provider's stock valued at $1,671,000 after buying an additional 1,284 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Stock Up 2.4%

Shares of NYSE:MMC traded up $4.97 during trading hours on Wednesday, hitting $209.38. The company's stock had a trading volume of 2,069,503 shares, compared to its average volume of 2,298,132. Marsh & McLennan Companies, Inc. has a 52 week low of $196.27 and a 52 week high of $248.00. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $102.94 billion, a price-to-earnings ratio of 25.11, a P/E/G ratio of 2.53 and a beta of 0.77. The firm's fifty day moving average price is $212.49 and its 200 day moving average price is $223.64.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.66 by $0.06. The business had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.92 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The business's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.41 EPS. As a group, research analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The business 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 is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, July 24th. Marsh & McLennan Companies's dividend payout ratio (DPR) is 43.17%.

Analyst Ratings Changes

Several equities 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 on the stock in a report on Friday, July 18th. Citigroup initiated coverage on Marsh & McLennan Companies in a research note on Wednesday. They set a "neutral" rating and a $226.00 price target on the stock. UBS Group reduced their target price 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. Barclays reduced their price objective on Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Finally, Cantor Fitzgerald assumed coverage on Marsh & McLennan Companies in a report on Wednesday. They set an "overweight" rating and a $256.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $239.94.

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.