Resona Asset Management Co. Ltd. Acquires 11,580 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Marsh & McLennan Companies by 7.3%, acquiring an additional 11,580 shares for a total holding of 169,263 shares worth approximately $41.26 million.
• Marsh & McLennan Companies recently increased its quarterly dividend from $0.82 to $0.90, reflecting a 1.8% yield and a payout ratio of 43.17%.
• Research analysts have lowered their price targets for Marsh & McLennan Companies, with Barclays setting a new target of $233.00 and Keefe, Bruyette & Woods at $210.00, indicating a mixed outlook on the stock.

Resona Asset Management Co. Ltd. raised its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 7.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,263 shares of the financial services provider's stock after buying an additional 11,580 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Marsh & McLennan Companies were worth $41,264,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Accent Capital Management LLC purchased a new stake in shares of Marsh & McLennan Companies in the first quarter worth approximately $25,000. City Holding Co. purchased a new stake in shares of Marsh & McLennan Companies in the first quarter worth approximately $37,000. Ameriflex Group Inc. purchased a new stake in shares of Marsh & McLennan Companies in the fourth quarter worth approximately $37,000. Garde Capital Inc. purchased a new stake in shares of Marsh & McLennan Companies in the first quarter worth approximately $42,000. Finally, Transce3nd LLC bought a new position in Marsh & McLennan Companies during the fourth quarter valued at approximately $39,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MMC has been the topic of several recent research reports. UBS Group cut their price objective on shares of 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. Citigroup initiated coverage on shares of Marsh & McLennan Companies in a research report on Wednesday. They set a "neutral" rating and a $226.00 price objective on the stock. Barclays cut their price objective on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Cantor Fitzgerald began coverage on shares of Marsh & McLennan Companies in a research report on Wednesday. They set an "overweight" rating and a $256.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price target on 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 analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Marsh & McLennan Companies currently has a consensus rating of "Hold" and an average price target of $239.94.

Marsh & McLennan Companies Stock Performance

Shares of Marsh & McLennan Companies stock traded up $0.30 during midday trading on Friday, hitting $207.29. The company had a trading volume of 1,767,649 shares, compared to its average volume of 2,732,376. 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. Marsh & McLennan Companies, Inc. has a 1-year low of $196.27 and a 1-year high of $248.00. The business's 50 day simple moving average is $211.14 and its two-hundred day simple 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 issued its earnings results on Thursday, July 17th. The financial services provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.66 by $0.06. The firm 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%. Marsh & McLennan Companies's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $2.41 earnings per share. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 24th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, July 24th. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.7%. Marsh & McLennan Companies's dividend payout ratio (DPR) is 43.17%.

Marsh & McLennan Companies Company 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.