Marsh & McLennan Companies, Inc. (NYSE:MMC) Holdings Lowered by Prudential PLC

Key Points

• Prudential PLC decreased its stake in Marsh & McLennan Companies by 6.6%, owning 91,713 shares valued at approximately $22.38 million after selling 6,431 shares in Q1.
• Marsh & McLennan increased its quarterly dividend from $0.82 to $0.90, marking a 9.8% increase with an annualized dividend yield of 1.8%.
• Several analysts have adjusted their price targets for Marsh & McLennan, with a consensus rating of "Hold" and an average price target of $239.79.

Prudential PLC lessened its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,713 shares of the financial services provider's stock after selling 6,431 shares during the period. Prudential PLC's holdings in Marsh & McLennan Companies were worth $22,381,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Resona Asset Management Co. Ltd. grew its holdings in Marsh & McLennan Companies by 7.3% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 169,263 shares of the financial services provider's stock valued at $41,264,000 after purchasing an additional 11,580 shares in the last quarter. Rathbones Group PLC grew its holdings in Marsh & McLennan Companies by 17.5% during the 1st quarter. Rathbones Group PLC now owns 770,666 shares of the financial services provider's stock valued at $188,066,000 after purchasing an additional 114,817 shares in the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. grew its holdings in Marsh & McLennan Companies by 74.8% during the 1st quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. now owns 1,000 shares of the financial services provider's stock valued at $244,000 after purchasing an additional 428 shares in the last quarter. Callan Family Office LLC grew its holdings in Marsh & McLennan Companies by 7.6% during the 1st quarter. Callan Family Office LLC now owns 28,126 shares of the financial services provider's stock valued at $6,864,000 after purchasing an additional 1,984 shares in the last quarter. Finally, Rossmore Private Capital grew its holdings in Marsh & McLennan Companies by 17.3% during the 1st quarter. Rossmore Private Capital now owns 1,509 shares of the financial services provider's stock valued at $368,000 after purchasing an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their price objective 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 decreased their price objective 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. Citigroup assumed coverage on shares of Marsh & McLennan Companies in a report on Wednesday. They set a "neutral" rating and a $226.00 price objective for the company. UBS Group decreased their price objective 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. Finally, Cantor Fitzgerald assumed coverage on shares of Marsh & McLennan Companies in a report on Wednesday. They set an "overweight" rating and a $256.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $239.94.

Marsh & McLennan Companies Stock Performance

Shares of Marsh & McLennan Companies stock traded up $4.97 during trading hours on Wednesday, reaching $209.38. The company's stock had a trading volume of 2,069,503 shares, compared to its average volume of 2,891,086. The stock has a market cap of $102.94 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 2.55 and a beta of 0.77. The company's 50 day simple moving average is $212.03 and its 200 day simple moving average is $223.54. Marsh & McLennan Companies, Inc. has a one year low of $196.27 and a one year high of $248.00. 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 (NYSE:MMC - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.06. The firm 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%. Marsh & McLennan Companies's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $2.41 EPS. As a group, analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, July 24th. This represents a $3.60 annualized dividend and a yield of 1.7%. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. Marsh & McLennan Companies's payout ratio is 43.17%.

Marsh & McLennan Companies 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.