Royal Bank of Canada Has $645.74 Million Stake in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Royal Bank of Canada increased its holdings in Marsh & McLennan Companies by 8.1%, acquiring an additional 198,702 shares during the first quarter, totaling 2,646,125 shares worth approximately $645.7 million.
• Marsh & McLennan Companies recently increased its quarterly dividend from $0.82 to $0.90 per share, reflecting a positive change for shareholders with an annualized yield of 1.8%.
• Analysts have set various price targets for Marsh & McLennan Companies, with a consensus rating of "Hold" and an average target price of $238.76.

Royal Bank of Canada boosted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 8.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,646,125 shares of the financial services provider's stock after purchasing an additional 198,702 shares during the quarter. Royal Bank of Canada owned 0.54% of Marsh & McLennan Companies worth $645,735,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Marsh & McLennan Companies by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,321,445 shares of the financial services provider's stock valued at $11,059,792,000 after purchasing an additional 581,930 shares during the period. Wellington Management Group LLP grew its holdings in Marsh & McLennan Companies by 54.2% during the first quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider's stock valued at $3,127,193,000 after purchasing an additional 4,505,548 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Marsh & McLennan Companies by 13.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,218,488 shares of the financial services provider's stock valued at $1,108,459,000 after purchasing an additional 609,602 shares during the period. Nuveen Asset Management LLC grew its holdings in Marsh & McLennan Companies by 7.2% during the fourth quarter. Nuveen Asset Management LLC now owns 4,581,773 shares of the financial services provider's stock valued at $973,214,000 after purchasing an additional 308,759 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Marsh & McLennan Companies by 8.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,345,211 shares of the financial services provider's stock valued at $1,060,362,000 after purchasing an additional 340,907 shares during the period. Institutional investors and hedge funds own 87.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MMC. Keefe, Bruyette & Woods reduced their price target 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. Morgan Stanley reduced their price target on shares of Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. UBS Group reduced 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. Wells Fargo & Company dropped 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 research report on Friday, July 18th. Finally, Cantor Fitzgerald began coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set an "overweight" rating and a $256.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $238.76.

Insider Buying and Selling

In related news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the sale, the chief executive officer directly owned 87,681 shares in the company, valued at $18,031,597.65. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Marsh & McLennan Companies Price Performance

Shares of MMC traded up $0.90 during mid-day trading on Thursday, reaching $206.17. The company had a trading volume of 2,608,469 shares, compared to its average volume of 2,256,989. The company's 50 day simple moving average is $208.60 and its 200 day simple moving average is $221.79. Marsh & McLennan Companies, Inc. has a 1-year low of $196.27 and a 1-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. The company has a market capitalization of $101.35 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 2.58 and a beta of 0.81.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted 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. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The business had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period last year, the company earned $2.41 EPS. The firm's revenue was up 12.1% compared to the same quarter last year. Analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 24th were given a dividend of $0.90 per share. The ex-dividend date was 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 dividend payout ratio 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.