HL Financial Services LLC increased its stake in Marsh & McLennan Cos. (NYSE:MMC) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 16,324 shares of the company’s stock after buying an additional 60 shares during the period. HL Financial Services LLC’s holdings in Marsh & McLennan Cos. were worth $1,118,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in MMC. Washington Trust Bank raised its stake 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 valued at $115,000 after buying an additional 48 shares in the last quarter. BlueMountain Capital Management LLC bought a new stake in shares of Marsh & McLennan Cos. during the first quarter valued at approximately $121,000. Howard Hughes Medical Institute bought a new stake in shares of Marsh & McLennan Cos. during the first quarter valued at approximately $136,000. Financial Architects Inc raised its stake in shares of Marsh & McLennan Cos. by 326.2% in the second quarter. Financial Architects Inc now owns 2,144 shares of the company’s stock valued at $146,000 after buying an additional 1,641 shares in the last quarter. Finally, Integrated Investment Consultants LLC raised its stake in shares of Marsh & McLennan Cos. by 10.7% in the second quarter. Integrated Investment Consultants LLC now owns 2,356 shares of the company’s stock valued at $161,000 after buying an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 85.97% of the company’s stock.
Shares of Marsh & McLennan Cos. (NYSE:MMC) traded down 1.26% on Friday, hitting $67.35. 1,436,413 shares of the stock were exchanged. The firm’s 50 day moving average price is $67.20 and its 200 day moving average price is $64.78. Marsh & McLennan Cos. has a one year low of $50.81 and a one year high of $68.69. The firm has a market cap of $34.90 billion, a price-to-earnings ratio of 21.52 and a beta of 0.98.
Marsh & McLennan Cos. (NYSE:MMC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.01. Marsh & McLennan Cos. had a net margin of 12.54% and a return on equity of 25.30%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the firm posted $0.80 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Marsh & McLennan Cos. will post $3.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, October 11th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, October 6th. This represents a $1.36 dividend on an annualized basis and a yield of 2.02%. Marsh & McLennan Cos.’s dividend payout ratio (DPR) is 43.45%.
Several equities research analysts recently commented on MMC shares. Deutsche Bank AG lifted their price target on shares of Marsh & McLennan Cos. from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Credit Suisse Group AG set a $55.00 price objective on shares of Marsh & McLennan Cos. and gave the company a “hold” rating in a research note on Monday, September 12th. Zacks Investment Research lowered shares of Marsh & McLennan Cos. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. BMO Capital Markets restated a “market perform” rating and issued a $73.00 price objective (down from $77.00) on shares of Marsh & McLennan Cos. in a research note on Tuesday, July 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of 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, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $67.60.
In other Marsh & McLennan Cos. news, Chairman Alexander S. Moczarski sold 22,230 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $67.41, for a total transaction of $1,498,524.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.51% of the company’s stock.
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.
Want to see what other hedge funds are holding MMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Cos. (NYSE:MMC).
Receive News & Ratings for Marsh & McLennan Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marsh & McLennan Cos. and related companies with MarketBeat.com's FREE daily email newsletter.