Panagora Asset Management Inc. Buys 103,274 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• Panagora Asset Management Inc. increased its stake in Marsh & McLennan Companies by 81.0%, acquiring an additional 103,274 shares, bringing its total holdings to 230,704 shares valued at approximately $56.3 million.
• Several other institutional investors also significantly increased their positions in Marsh & McLennan Companies during the first quarter, resulting in 87.99% of the stock being owned by institutional investors.
• Marsh & McLennan Companies recently raised its quarterly dividend to $0.90 per share, up from $0.82, which reflects an annualized dividend yield of 1.8% and a payout ratio of 43.17%.

Panagora Asset Management Inc. increased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 81.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 230,704 shares of the financial services provider's stock after purchasing an additional 103,274 shares during the period. Panagora Asset Management Inc.'s holdings in Marsh & McLennan Companies were worth $56,299,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Parisi Gray Wealth Management acquired a new stake in shares of Marsh & McLennan Companies in the first quarter valued at approximately $947,000. Wealth Enhancement Advisory Services LLC raised 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 in the last quarter. LPL Financial LLC increased its holdings in shares of 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 worth $78,662,000 after buying an additional 29,247 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of 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 worth $1,741,000 after buying an additional 3,593 shares in the last quarter. Finally, US Asset Management LLC increased its holdings in shares of 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 worth $1,671,000 after buying an additional 1,284 shares in the last quarter. Institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Trading Down 0.2%

Shares of Marsh & McLennan Companies stock traded down $0.42 during trading on Wednesday, hitting $205.02. The company's stock had a trading volume of 1,244,048 shares, compared to its average volume of 2,255,517. 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 stock has a market cap of $100.79 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 2.58 and a beta of 0.81. The stock has a 50-day moving average price of $208.83 and a two-hundred day moving average price of $221.91. Marsh & McLennan Companies, Inc. has a 52 week low of $196.27 and a 52 week high of $248.00.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.66 by $0.06. The business had revenue of $6.97 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.41 earnings per share. Equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 24th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.8%. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Thursday, July 24th. Marsh & McLennan Companies's payout ratio is currently 43.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MMC shares. Keefe, Bruyette & Woods lowered their price target on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a report on Monday, July 21st. Barclays lowered their price target on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. UBS Group lowered their price target on shares of Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating for the company in a report on Monday, July 21st. Morgan Stanley lowered their price target on shares of Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Finally, Citigroup initiated coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus 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.