The Manufacturers Life Insurance Company Cuts Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

The Manufacturers Life Insurance Company cut its stake in Marsh & McLennan Companies, Inc. (NYSE:MMCGet Rating) by 5.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 783,242 shares of the financial services provider’s stock after selling 46,208 shares during the period. The Manufacturers Life Insurance Company owned about 0.16% of Marsh & McLennan Companies worth $133,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MMC. BlackRock Inc. grew its position in Marsh & McLennan Companies by 7.4% in the fourth quarter. BlackRock Inc. now owns 43,136,914 shares of the financial services provider’s stock worth $7,498,062,000 after acquiring an additional 2,986,547 shares in the last quarter. Norges Bank bought a new stake in Marsh & McLennan Companies in the fourth quarter worth $350,304,000. Capital Research Global Investors lifted its stake in Marsh & McLennan Companies by 331.5% in the first quarter. Capital Research Global Investors now owns 1,830,548 shares of the financial services provider’s stock worth $311,962,000 after purchasing an additional 1,406,293 shares during the last quarter. Viking Global Investors LP lifted its stake in Marsh & McLennan Companies by 78.4% in the first quarter. Viking Global Investors LP now owns 2,250,643 shares of the financial services provider’s stock worth $383,555,000 after purchasing an additional 989,073 shares during the last quarter. Finally, State Street Corp lifted its stake in Marsh & McLennan Companies by 3.7% in the fourth quarter. State Street Corp now owns 24,011,909 shares of the financial services provider’s stock worth $4,173,750,000 after purchasing an additional 860,365 shares during the last quarter. 87.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MMC has been the subject of several recent research reports. Morgan Stanley downgraded shares of Marsh & McLennan Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $163.00 to $145.00 in a research note on Friday, June 3rd. Wells Fargo & Company boosted their price target on shares of Marsh & McLennan Companies to $185.00 in a research note on Friday, July 22nd. The Goldman Sachs Group began coverage on shares of Marsh & McLennan Companies in a research note on Tuesday, July 12th. They set a “buy” rating and a $182.00 price objective for the company. Finally, Jefferies Financial Group lowered their price objective on shares of Marsh & McLennan Companies from $198.00 to $181.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus price target of $177.60.

Marsh & McLennan Companies Price Performance

Shares of NYSE MMC opened at $156.89 on Friday. Marsh & McLennan Companies, Inc. has a 1 year low of $142.80 and a 1 year high of $183.14. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.16 and a quick ratio of 1.16. The company’s 50-day moving average is $162.55 and its 200 day moving average is $160.73. The stock has a market capitalization of $78.75 billion, a P/E ratio of 23.66, a P/E/G ratio of 2.87 and a beta of 0.90.

Marsh & McLennan Companies (NYSE:MMCGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.03. Marsh & McLennan Companies had a net margin of 16.36% and a return on equity of 31.24%. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the previous year, the company earned $1.75 earnings per share. Marsh & McLennan Companies’s quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 6.8 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Thursday, July 28th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Wednesday, July 27th. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.54. Marsh & McLennan Companies’s dividend payout ratio is 35.60%.

Marsh & McLennan Companies Company Profile

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Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services, and Consulting. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.

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Institutional Ownership by Quarter for Marsh & McLennan Companies (NYSE:MMC)

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