Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc has increased its stake in Marsh & McLennan Companies by 18.7%, now holding approximately $236.42 million in shares as of its latest 13F filing.
• The company has declared a quarterly dividend of $0.90, up from the previous $0.82, with an annualized yield of 1.71%.
• Marsh & McLennan reported a 12.1% increase in revenue year-over-year, totaling $6.97 billion for the last quarter, exceeding consensus estimates.

TD Asset Management Inc boosted its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 18.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 968,810 shares of the financial services provider's stock after purchasing an additional 152,701 shares during the quarter. TD Asset Management Inc owned approximately 0.20% of Marsh & McLennan Companies worth $236,419,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in shares of Marsh & McLennan Companies by 51.2% during the fourth quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider's stock valued at $1,856,000 after buying an additional 2,960 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Marsh & McLennan Companies during the 4th quarter worth approximately $37,178,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Marsh & McLennan Companies by 9.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 797,786 shares of the financial services provider's stock worth $168,501,000 after acquiring an additional 68,069 shares during the last quarter. WINTON GROUP Ltd bought a new position in Marsh & McLennan Companies in the 4th quarter valued at $369,000. Finally, UniSuper Management Pty Ltd lifted its stake in shares of Marsh & McLennan Companies by 30.2% in the 4th quarter. UniSuper Management Pty Ltd now owns 31,800 shares of the financial services provider's stock valued at $6,755,000 after purchasing an additional 7,376 shares during the period. Institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Trading Down 1.0%

Shares of MMC stock traded down $2.07 during trading hours on Wednesday, reaching $200.85. 980,492 shares of the stock were exchanged, compared to its average volume of 2,250,145. Marsh & McLennan Companies, Inc. has a 12-month low of $200.84 and a 12-month high of $248.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. The company's 50-day moving average price is $218.42 and its 200-day moving average price is $224.62. The firm has a market capitalization of $98.74 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 2.50 and a beta of 0.80.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its quarterly 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. The business had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.92 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The company's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.41 EPS. As a group, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 24th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, July 24th. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.82. Marsh & McLennan Companies's dividend payout ratio (DPR) is currently 43.17%.

Analyst Ratings Changes

Several research firms have issued reports on MMC. Keefe, Bruyette & Woods dropped their price target on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a research note on Monday, July 21st. UBS Group dropped 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 research report on Monday, July 21st. Barclays lowered their price objective on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Wells Fargo & Company decreased their target price on shares of Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. Finally, Jefferies Financial Group boosted their price objective on shares of Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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.