BB&T Corp acquired a new stake in shares of Marsh & McLennan Cos. (NYSE:MMC) during the second quarter, Holdings Channel reports. The fund acquired 317,872 shares of the company’s stock, valued at approximately $21,762,000.
Other large investors also recently bought and sold shares of the company. Washington Trust Bank boosted its stake in 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 Marsh & McLennan Cos. during the first quarter valued at approximately $121,000. Financial Architects Inc boosted 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 valued at $146,000 after buying an additional 1,641 shares in the last quarter. Integrated Investment Consultants LLC boosted 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 valued at $161,000 after buying an additional 228 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Marsh & McLennan Cos. during the first quarter valued at approximately $209,000. 85.97% of the stock is currently owned by institutional investors and hedge funds.
Marsh & McLennan Cos. (NYSE:MMC) traded up 0.407% on Wednesday, hitting $65.405. 856,507 shares of the stock traded hands. Marsh & McLennan Cos. has a 52 week low of $50.81 and a 52 week high of $68.69. The stock has a 50 day moving average of $66.79 and a 200 day moving average of $65.66. The firm has a market capitalization of $33.90 billion, a PE ratio of 20.896 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 analysts’ consensus estimates of $0.90 by $0.01. The business 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 business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $0.80 earnings per share. Equities research analysts anticipate that Marsh & McLennan Cos. will post $3.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, October 11th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, October 6th. Marsh & McLennan Cos.’s payout ratio is 43.45%.
Several equities research analysts recently commented on MMC shares. 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. Zacks Investment Research raised shares of Marsh & McLennan Cos. from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Monday, October 3rd. Barclays PLC reissued a “buy” rating and set a $77.00 price target on shares of Marsh & McLennan Cos. in a research report on Friday, September 30th. Citigroup Inc. cut their price target on shares of Marsh & McLennan Cos. from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. Finally, Credit Suisse Group AG set a $55.00 price target on shares of Marsh & McLennan Cos. and gave the stock a “hold” rating in a research report on Monday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $69.18.
In other Marsh & McLennan Cos. news, Chairman Alexander S. Moczarski sold 22,230 shares of the firm’s stock in a transaction 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 this hyperlink. 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.
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.