SOL Capital Management CO lowered its stake in Marsh & McLennan Cos. (NYSE:MMC) by 14.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,300 shares of the company’s stock after selling 1,250 shares during the period. SOL Capital Management CO’s holdings in Marsh & McLennan Cos. were worth $500,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMC. Bank of Montreal Can purchased a new stake in shares of Marsh & McLennan Cos. during the second quarter worth about $37,874,000. Atlanta Capital Management Co. L L C boosted its stake in shares of Marsh & McLennan Cos. by 239.4% in the first quarter. Atlanta Capital Management Co. L L C now owns 784,111 shares of the company’s stock worth $47,666,000 after buying an additional 553,069 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Marsh & McLennan Cos. by 9.9% in the second quarter. Nisa Investment Advisors LLC now owns 241,144 shares of the company’s stock worth $16,509,000 after buying an additional 21,731 shares during the period. Citizens Financial Group Inc RI boosted its stake in shares of Marsh & McLennan Cos. by 1.2% in the first quarter. Citizens Financial Group Inc RI now owns 179,630 shares of the company’s stock worth $10,920,000 after buying an additional 2,081 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of Marsh & McLennan Cos. during the first quarter worth about $209,000. 85.97% of the stock is owned by institutional investors and hedge funds.
Marsh & McLennan Cos. (NYSE:MMC) traded up 0.47% during trading on Friday, reaching $65.99. The company had a trading volume of 1,910,234 shares. Marsh & McLennan Cos. has a 52-week low of $50.81 and a 52-week high of $68.69. The company has a 50-day moving average of $66.97 and a 200-day moving average of $65.49. The firm has a market capitalization of $34.20 billion, a P/E ratio of 21.08 and a beta of 0.93.
Marsh & McLennan Cos. (NYSE:MMC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.01. The business earned $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. Marsh & McLennan Cos. had a return on equity of 25.30% and a net margin of 12.54%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share. Analysts expect that Marsh & McLennan Cos. will post $3.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, October 11th will be paid a $0.34 dividend. The ex-dividend date is Thursday, October 6th. This represents a $1.36 dividend on an annualized basis and a yield of 2.06%. Marsh & McLennan Cos.’s dividend payout ratio (DPR) is 43.45%.
MMC has been the subject of a number of research analyst reports. Credit Suisse Group AG set a $55.00 target price on Marsh & McLennan Cos. and gave the company a “hold” rating in a research report on Monday, September 12th. Barclays PLC reaffirmed an “overweight” rating and set a $71.00 price objective on shares of Marsh & McLennan Cos. in a research note on Tuesday, June 21st. Zacks Investment Research downgraded Marsh & McLennan Cos. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Citigroup Inc. reduced their price objective on Marsh & McLennan Cos. from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Keefe, Bruyette & Woods upped their price objective on Marsh & McLennan Cos. from $69.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $69.18.
In related news, Chairman Alexander S. Moczarski sold 22,230 shares of Marsh & McLennan Cos. stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $67.41, for a total value of $1,498,524.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.51% of the stock is owned by corporate insiders.
About Marsh & McLennan Cos.
Marsh & McLennan Companies, Inc is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various specialty consultants, including Marsh, an insurance broker, intermediary and risk advisor; Guy Carpenter, a risk and reinsurance specialist; Mercer, a provider of human resource (HR) and related financial advice and services, and Oliver Wyman Group, a management, economic and brand consultancy.