Quadrant Capital Group LLC reduced its position in Marsh & McLennan Cos. (NYSE:MMC) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 2,531 shares of the company’s stock after selling 76 shares during the period. Quadrant Capital Group LLC’s holdings in Marsh & McLennan Cos. were worth $168,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Virginia Retirement System acquired a new position in shares of Marsh & McLennan Cos. during the first quarter worth approximately $514,000. IFP Advisors Inc boosted its position in shares of Marsh & McLennan Cos. by 10.2% in the first quarter. IFP Advisors Inc now owns 4,378 shares of the company’s stock worth $266,000 after buying an additional 404 shares during the last quarter. CIBC World Markets Inc. acquired a new position in shares of Marsh & McLennan Cos. during the first quarter worth approximately $289,000. Ngam Advisors L.P. boosted its position in shares of Marsh & McLennan Cos. by 14.0% in the first quarter. Ngam Advisors L.P. now owns 61,999 shares of the company’s stock worth $3,769,000 after buying an additional 7,635 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in shares of Marsh & McLennan Cos. by 3.9% in the first quarter. BlackRock Fund Advisors now owns 7,545,646 shares of the company’s stock worth $458,700,000 after buying an additional 286,191 shares during the last quarter. Institutional investors own 85.97% of the company’s stock.
Shares of Marsh & McLennan Cos. (NYSE:MMC) traded up 0.62% during midday trading on Thursday, hitting $66.39. 2,253,589 shares of the stock were exchanged. Marsh & McLennan Cos. has a 12 month low of $50.81 and a 12 month high of $68.69. The firm has a 50 day moving average of $67.14 and a 200-day moving average of $65.30. The stock has a market cap of $34.41 billion, a P/E ratio of 21.21 and a beta of 0.93.
Marsh & McLennan Cos. (NYSE:MMC) last announced its earnings results on Thursday, July 28th. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Marsh & McLennan Cos. will post $3.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, October 11th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, October 6th. Marsh & McLennan Cos.’s dividend payout ratio is currently 43.45%.
MMC has been the topic of a number of analyst reports. Barclays PLC reiterated an “overweight” rating and issued a $71.00 target price on shares of Marsh & McLennan Cos. in a research report on Tuesday, June 21st. Zacks Investment Research cut shares of Marsh & McLennan Cos. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. BMO Capital Markets restated a “market perform” rating and issued a $73.00 price objective (down previously from $77.00) on shares of Marsh & McLennan Cos. in a research report on Tuesday, July 12th. Deutsche Bank AG boosted their price objective on shares of Marsh & McLennan Cos. from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Keefe, Bruyette & Woods boosted 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 report on Friday, July 29th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Marsh & McLennan Cos. currently has an average rating of “Buy” and a consensus target price of $68.50.
In related news, Chairman Alexander S. Moczarski sold 22,230 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is accessible through this link. 1.51% of the stock is currently 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.
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