Candriam Luxembourg S.C.A. raised its position in shares of Marsh & McLennan Cos. (NYSE:MMC) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,802 shares of the company’s stock after buying an additional 1,036 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Marsh & McLennan Cos. were worth $2,793,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Washington Trust Bank increased its position in shares of Marsh & McLennan Cos. by 2.9% in the second quarter. Washington Trust Bank now owns 1,685 shares of the company’s stock worth $115,000 after buying an additional 48 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in Marsh & McLennan Cos. during the first quarter worth $121,000. Financial Architects Inc raised its stake in Marsh & McLennan Cos. by 326.2% in the second quarter. Financial Architects Inc now owns 2,144 shares of the company’s stock worth $146,000 after buying an additional 1,641 shares during the last quarter. Howard Hughes Medical Institute purchased a new stake in Marsh & McLennan Cos. during the first quarter worth $136,000. Finally, Integrated Investment Consultants LLC raised its stake in Marsh & McLennan Cos. by 10.7% in the second quarter. Integrated Investment Consultants LLC now owns 2,356 shares of the company’s stock worth $161,000 after buying an additional 228 shares during the last quarter. 85.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of Marsh & McLennan Cos. (NYSE:MMC) traded up 1.28% on Friday, reaching $67.25. 2,597,202 shares of the company’s stock traded hands. Marsh & McLennan Cos. has a 52 week low of $50.81 and a 52 week high of $68.69. The company’s 50-day moving average is $67.20 and its 200-day moving average is $65.10. The firm has a market capitalization of $34.85 billion, a P/E ratio of 21.49 and a beta of 0.98.
Marsh & McLennan Cos. (NYSE:MMC) last posted its earnings results on Thursday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.01. The firm earned $3.40 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Marsh & McLennan Cos. had a net margin of 12.54% and a return on equity of 25.30%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 earnings per share. Equities research analysts anticipate that Marsh & McLennan Cos. will post $3.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, October 11th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, October 6th. Marsh & McLennan Cos.’s dividend payout ratio (DPR) is presently 43.45%.
A number of research firms recently weighed in on MMC. Barclays PLC reaffirmed an “overweight” rating and set a $71.00 price target on shares of Marsh & McLennan Cos. in a report on Tuesday, June 21st. BMO Capital Markets reaffirmed a “market perform” rating and set a $73.00 price target (down from $77.00) on shares of Marsh & McLennan Cos. in a report on Tuesday, July 12th. Keefe, Bruyette & Woods raised their price target on shares of Marsh & McLennan Cos. from $69.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, July 29th. Deutsche Bank AG raised their price target on shares of Marsh & McLennan Cos. from $67.00 to $71.00 and gave the company a “buy” rating in a report on Friday, July 29th. Finally, Zacks Investment Research lowered shares of Marsh & McLennan Cos. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $68.20.
In other Marsh & McLennan Cos. news, Chairman Alexander S. Moczarski sold 22,230 shares of Marsh & McLennan Cos. stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $67.41, for a total value of $1,498,524.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is currently owned by company 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.
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