Torray Investment Partners LLC Has $17.28 Million Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Key Points

• Torray Investment Partners LLC has reduced its stake in Marsh & McLennan Companies by 9.1%, now owning 70,815 shares, which represent 2.6% of its portfolio, valued at approximately $17.28 million.
• Marsh & McLennan recently increased its quarterly dividend from $0.82 to $0.90, yielding 1.80%, with an upcoming payment date on August 15th.
• Analysts' ratings for the company show a consensus of "Hold" with a target price of $239.79, as research firms adjust their projections amid varying ratings across the board.

Torray Investment Partners LLC cut its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,815 shares of the financial services provider's stock after selling 7,062 shares during the period. Marsh & McLennan Companies accounts for about 2.6% of Torray Investment Partners LLC's investment portfolio, making the stock its 10th largest position. Torray Investment Partners LLC's holdings in Marsh & McLennan Companies were worth $17,281,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Stifel Financial Corp grew its holdings in Marsh & McLennan Companies by 551.0% in the 4th quarter. Stifel Financial Corp now owns 2,224,932 shares of the financial services provider's stock valued at $472,599,000 after buying an additional 1,883,146 shares during the last quarter. GAMMA Investing LLC grew its holdings in Marsh & McLennan Companies by 32,120.9% in the 1st quarter. GAMMA Investing LLC now owns 1,515,670 shares of the financial services provider's stock valued at $369,869,000 after buying an additional 1,510,966 shares during the last quarter. Ninety One UK Ltd grew its holdings in Marsh & McLennan Companies by 153.6% in the 1st quarter. Ninety One UK Ltd now owns 2,370,678 shares of the financial services provider's stock valued at $578,517,000 after buying an additional 1,436,044 shares during the last quarter. Franklin Resources Inc. grew its holdings in Marsh & McLennan Companies by 473.2% in the 4th quarter. Franklin Resources Inc. now owns 927,525 shares of the financial services provider's stock valued at $197,016,000 after buying an additional 765,696 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Marsh & McLennan Companies by 25.7% during the 4th quarter. Deutsche Bank AG now owns 3,719,830 shares of the financial services provider's stock worth $790,129,000 after purchasing an additional 759,573 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company's stock.

Wall Street Analyst Weigh In

MMC has been the topic of several recent research reports. Jefferies Financial Group lifted their price objective on Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods decreased their price objective on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a report on Monday, July 21st. UBS Group decreased their price objective on Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating on the stock in a report on Monday, July 21st. Barclays decreased their price objective on Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Finally, Wells Fargo & Company cut their target price on Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $239.79.

Marsh & McLennan Companies Price Performance

MMC traded down $1.44 during trading on Friday, hitting $197.76. The company's stock had a trading volume of 3,514,400 shares, compared to its average volume of 2,589,960. The firm's 50 day moving average price is $216.62 and its two-hundred day moving average price is $224.26. 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, Inc. has a 12 month low of $196.27 and a 12 month high of $248.00. The stock has a market capitalization of $97.22 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80.

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 the consensus estimate of $2.66 by $0.06. The firm had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.92 billion. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.41 EPS. Sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 24th will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, July 24th. This is an increase 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 1.8%. Marsh & McLennan Companies's dividend payout ratio is presently 43.17%.

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.