Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Purchased by Rathbones Group PLC

Key Points

• Rathbones Group PLC increased its holdings in Marsh & McLennan Companies by 17.5%, owning 770,666 shares worth approximately $188 million.
• Marsh & McLennan reported a quarterly EPS of $2.72, exceeding analyst estimates and demonstrating a revenue growth of 12.1% year-over-year.
• The company announced a dividend increase to $0.90 per share, representing a 1.8% yield, scheduled for distribution on August 15th.

Rathbones Group PLC grew its position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 17.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 770,666 shares of the financial services provider's stock after buying an additional 114,817 shares during the period. Marsh & McLennan Companies accounts for approximately 0.9% of Rathbones Group PLC's investment portfolio, making the stock its 27th largest position. Rathbones Group PLC owned 0.16% of Marsh & McLennan Companies worth $188,066,000 at the end of the most recent quarter.

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

Marsh & McLennan Companies Trading Up 0.1%

MMC traded up $0.30 during trading hours on Friday, reaching $207.29. The company's stock had a trading volume of 1,767,649 shares, compared to its average volume of 2,732,376. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.27 and a fifty-two week high of $248.00. The stock has a market cap of $101.91 billion, a PE ratio of 24.85, a P/E/G ratio of 2.58 and a beta of 0.77. The business's 50-day moving average is $211.14 and its 200-day moving average is $223.33. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.20 and a quick ratio of 1.20.

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 analysts' consensus estimates of $2.66 by $0.06. The firm had revenue of $6.97 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.41 earnings per share. As a group, equities research analysts predict 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 was paid on Friday, August 15th. Stockholders of record on Thursday, July 24th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.7%. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date was Thursday, July 24th. Marsh & McLennan Companies's payout ratio is currently 43.17%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MMC shares. Keefe, Bruyette & Woods lowered their target price on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a report on Monday, July 21st. Barclays reduced 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 research note 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. Citigroup began coverage on shares of Marsh & McLennan Companies in a report on Wednesday. They issued a "neutral" rating and a $226.00 target price for the company. Finally, Wells Fargo & Company cut their price target on shares of 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $239.94.

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.