Raymond James Financial Inc. Sells 42,729 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• Raymond James Financial Inc. reduced its stake in Marsh & McLennan Companies by 4.4%, selling 42,729 shares and retaining approximately 933,112 shares valued at $227.7 million.
• Marsh & McLennan recently increased its quarterly dividend from $0.82 to $0.90, yielding 1.7% with a payout ratio of 43.17%.
• Analysts have mixed ratings on the stock, with a consensus target price of $239.94 and recent reductions in price targets from major firms like Keefe, Bruyette & Woods and Wells Fargo.

Raymond James Financial Inc. decreased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 933,112 shares of the financial services provider's stock after selling 42,729 shares during the period. Raymond James Financial Inc. owned approximately 0.19% of Marsh & McLennan Companies worth $227,707,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MMC. Accent Capital Management LLC bought a new stake in shares of Marsh & McLennan Companies during the first quarter worth $25,000. Ameriflex Group Inc. bought a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth $37,000. City Holding Co. bought a new stake in shares of Marsh & McLennan Companies during the first quarter worth $37,000. Transce3nd LLC bought a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth $39,000. Finally, Garde Capital Inc. bought a new stake in shares of Marsh & McLennan Companies during the first quarter worth $42,000. Institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $207.29 on Friday. The stock has a market cap of $101.91 billion, a P/E ratio of 24.85, a P/E/G ratio of 2.58 and a beta of 0.77. 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 company has a fifty day moving average price of $211.14 and a two-hundred day moving average price of $223.36. Marsh & McLennan Companies, Inc. has a one year low of $196.27 and a one year high of $248.00.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $0.06. The company had revenue of $6.97 billion during 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%. Marsh & McLennan Companies's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.41 EPS. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 24th were paid a $0.90 dividend. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date was Thursday, July 24th. This represents a $3.60 annualized dividend and a yield of 1.7%. Marsh & McLennan Companies's dividend payout ratio is presently 43.17%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their target price 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. Wells Fargo & Company reduced their target price on shares of 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. UBS Group reduced their target price 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 assumed coverage on shares of Marsh & McLennan Companies in a report on Wednesday. They set a "neutral" rating and a $226.00 target price for the company. 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 target price for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock 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.

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