Penserra Capital Management LLC lifted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 101.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,136 shares of the financial services provider's stock after purchasing an additional 3,593 shares during the period. Penserra Capital Management LLC's holdings in Marsh & McLennan Companies were worth $1,741,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the company. City Holding Co. bought a new stake in shares of Marsh & McLennan Companies in the first quarter worth $37,000. Ameriflex Group Inc. bought a new stake in shares of Marsh & McLennan Companies in the fourth quarter worth $37,000. Garde Capital Inc. bought a new stake in shares of Marsh & McLennan Companies in the first quarter worth $42,000. Transce3nd LLC bought a new stake in shares of Marsh & McLennan Companies in the fourth quarter worth $39,000. Finally, First Pacific Financial increased its stake in shares of Marsh & McLennan Companies by 133.8% in the first quarter. First Pacific Financial now owns 187 shares of the financial services provider's stock worth $46,000 after buying an additional 107 shares during the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on MMC. Keefe, Bruyette & Woods dropped their price target on shares of Marsh & McLennan Companies from $215.00 to $214.00 and set an "underperform" rating for the company in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Marsh & McLennan Companies from $228.00 to $229.00 and gave the company an "equal weight" rating in a research note on Thursday. Redburn Atlantic began coverage on shares of Marsh & McLennan Companies in a research note on Tuesday, March 25th. They set a "buy" rating and a $281.00 target price for the company. Jefferies Financial Group boosted their target price on shares of Marsh & McLennan Companies from $237.00 to $244.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Finally, UBS Group boosted their target price on shares of 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 research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $240.50.
View Our Latest Stock Report on Marsh & McLennan Companies
Marsh & McLennan Companies Price Performance
MMC stock traded down $3.09 during trading on Friday, hitting $211.62. The company had a trading volume of 2,082,397 shares, compared to its average volume of 2,201,568. The business has a 50 day moving average of $223.02 and a 200 day moving average of $224.70. The firm has a market capitalization of $104.27 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 2.62 and a beta of 0.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.32. Marsh & McLennan Companies, Inc. has a fifty-two week low of $207.21 and a fifty-two week high of $248.00.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.02 by $0.04. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.08 billion. Marsh & McLennan Companies had a net margin of 16.13% and a return on equity of 32.19%. During the same quarter in the prior year, the firm posted $2.89 EPS. As a group, research analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.
Marsh & McLennan Companies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 24th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, July 24th. This is a positive change 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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