State of New Jersey Common Pension Fund D Sells 14,963 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• The State of New Jersey Common Pension Fund D decreased its stake in Marsh & McLennan Companies, Inc. by 8.3%, owning 164,828 shares valued at approximately $40.2 million after selling 14,963 shares in the first quarter.
• Marsh & McLennan reported a 12.1% increase in revenue year-over-year, totaling $6.97 billion, with earnings per share of $2.72, surpassing analysts' estimates.
• The company has announced a new quarterly dividend of $0.90 per share, representing a 1.7% dividend yield, which is an increase from the previous dividend of $0.82.

State of New Jersey Common Pension Fund D reduced its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 164,828 shares of the financial services provider's stock after selling 14,963 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Marsh & McLennan Companies were worth $40,223,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Ethic Inc. grew its position in shares of Marsh & McLennan Companies by 7.7% in the first quarter. Ethic Inc. now owns 72,805 shares of the financial services provider's stock valued at $17,764,000 after purchasing an additional 5,236 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Marsh & McLennan Companies by 13.7% during the first quarter. EverSource Wealth Advisors LLC now owns 5,735 shares of the financial services provider's stock worth $1,400,000 after buying an additional 693 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Marsh & McLennan Companies by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,062,278 shares of the financial services provider's stock worth $503,218,000 after buying an additional 33,651 shares in the last quarter. Horizon Investments LLC grew its position in Marsh & McLennan Companies by 6.8% during the first quarter. Horizon Investments LLC now owns 12,361 shares of the financial services provider's stock worth $3,006,000 after buying an additional 792 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC grew its position in Marsh & McLennan Companies by 0.5% during the first quarter. Azimuth Capital Investment Management LLC now owns 56,706 shares of the financial services provider's stock worth $13,838,000 after buying an additional 265 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Trading Up 0.1%

Shares of MMC stock traded up $0.30 during trading hours on Friday, reaching $207.29. 1,767,649 shares of the stock traded hands, compared to its average volume of 2,644,554. The business has a fifty day moving average price of $211.14 and a 200 day moving average price of $223.38. Marsh & McLennan Companies, Inc. has a 1-year low of $196.27 and a 1-year high of $248.00. The firm has a market capitalization of $101.91 billion, a PE ratio of 24.85, a PEG ratio of 2.58 and a beta of 0.77. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $2.72 EPS for the quarter, beating 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 firm had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same period in the prior year, the company earned $2.41 EPS. The business's quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MMC shares. UBS Group dropped their price target 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. Cantor Fitzgerald initiated coverage on Marsh & McLennan Companies in a research note on Wednesday. They issued an "overweight" rating and a $256.00 price target on the stock. Citigroup started coverage on Marsh & McLennan Companies in a research report on Wednesday. They issued a "neutral" rating and a $226.00 price objective on the stock. 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. Finally, Barclays cut 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 analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $239.94.

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.