Primecap Management Co. CA Reduces Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• Primecap Management Co. CA has reduced its stake in Marsh & McLennan Companies by 1.6%, holding 2,687,926 shares worth approximately $655.9 million after selling 44,400 shares in the first quarter.
• Marsh & McLennan Companies recently increased its quarterly dividend to $0.90, which translates to an annualized dividend of $3.60, representing a yield of 1.8%.
• Equities analysts have mixed views on Marsh & McLennan, with a consensus rating of "Hold" and an average target price of $239.79 despite several target price reductions from notable firms.

Primecap Management Co. CA decreased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 1.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,687,926 shares of the financial services provider's stock after selling 44,400 shares during the period. Primecap Management Co. CA owned 0.55% of Marsh & McLennan Companies worth $655,935,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Accent Capital Management LLC bought a new position in Marsh & McLennan Companies in the 1st quarter worth about $25,000. Ameriflex Group Inc. bought a new position in shares of Marsh & McLennan Companies during the 4th quarter valued at about $37,000. City Holding Co. bought a new position in shares of Marsh & McLennan Companies during the 1st quarter valued at about $37,000. Transce3nd LLC bought a new position in shares of Marsh & McLennan Companies during the 4th quarter valued at about $39,000. Finally, Garde Capital Inc. bought a new position in shares of Marsh & McLennan Companies during the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 87.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MMC shares. UBS Group reduced their price objective on 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. Keefe, Bruyette & Woods dropped their target price on 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 dropped their target price on 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. Jefferies Financial Group increased their target price on Marsh & McLennan Companies from $237.00 to $244.00 and gave the company a "hold" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company dropped their target price on Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $239.79.

Marsh & McLennan Companies Stock Up 0.7%

Shares of NYSE:MMC opened at $200.45 on Wednesday. The stock has a fifty day simple moving average of $215.40 and a two-hundred day simple moving average of $224.12. The stock has a market capitalization of $98.55 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.41 and a beta of 0.77. Marsh & McLennan Companies, Inc. has a 12-month low of $196.27 and a 12-month high of $248.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.66 by $0.06. The business had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.92 billion. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.41 earnings per share. On average, research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 24th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend 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 43.17%.

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.

Want to see what other hedge funds are holding MMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.