Scotia Capital Inc. Buys 6,368 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• Scotia Capital Inc. increased its stake in Marsh & McLennan Companies, Inc. by 6.6%, owning a total of 103,096 shares valued at approximately $25.16 million.
• The company reported $2.72 earnings per share for the quarter, exceeding analysts' estimates, with a 12.1% year-over-year revenue increase to $6.97 billion.
• Marsh & McLennan announced a quarterly dividend of $0.90 per share, reflecting an increase from the previous quarter's dividend of $0.82, resulting in an annual yield of 1.8%.

Scotia Capital Inc. raised its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 6.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 103,096 shares of the financial services provider's stock after purchasing an additional 6,368 shares during the period. Scotia Capital Inc.'s holdings in Marsh & McLennan Companies were worth $25,158,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MMC. Ameriflex Group Inc. bought a new stake in Marsh & McLennan Companies during the fourth quarter valued at about $37,000. City Holding Co. bought a new position in shares of Marsh & McLennan Companies in the first quarter worth about $37,000. Transce3nd LLC bought a new position in shares of Marsh & McLennan Companies in the fourth quarter worth about $39,000. Garde Capital Inc. bought a new position in shares of Marsh & McLennan Companies in the first quarter worth about $42,000. Finally, First Pacific Financial boosted its stake in shares of Marsh & McLennan Companies by 133.8% in the first quarter. First Pacific Financial now owns 187 shares of the financial services provider's stock worth $46,000 after acquiring an additional 107 shares during the period. Institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Trading Down 0.7%

Shares of MMC stock opened at $197.76 on Friday. 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 current ratio of 1.20 and a quick ratio of 1.20. The stock's 50 day simple moving average is $216.62 and its two-hundred day simple moving average is $224.34. The company has a market cap of $97.22 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.66 by $0.06. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%. The business had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the prior year, the business posted $2.41 earnings per share. The company's quarterly revenue was up 12.1% compared to the same quarter last year. Research analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 24th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.8%. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date is Thursday, July 24th. Marsh & McLennan Companies's dividend payout ratio (DPR) is currently 43.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MMC shares. Jefferies Financial Group upped their price objective on Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Wells Fargo & Company dropped their price objective on Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. Keefe, Bruyette & Woods dropped their price objective on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a research note on Monday, July 21st. UBS Group dropped their price objective on Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Finally, Barclays dropped their price target on 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $239.79.

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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