Tesco Pension Investment Ltd lifted its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,220,356 shares of the financial services provider’s stock after purchasing an additional 57,392 shares during the quarter. Marsh & McLennan Companies accounts for about 2.9% of Tesco Pension Investment Ltd’s portfolio, making the stock its 15th biggest position. Tesco Pension Investment Ltd’s holdings in Marsh & McLennan Companies were worth $114,591,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMC. Oregon Public Employees Retirement Fund grew its holdings in shares of Marsh & McLennan Companies by 7,364.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,053,539 shares of the financial services provider’s stock worth $114,000 after buying an additional 8,932,244 shares in the last quarter. Norges Bank bought a new position in shares of Marsh & McLennan Companies during the fourth quarter worth about $330,042,000. BlackRock Inc. grew its holdings in shares of Marsh & McLennan Companies by 7.0% during the fourth quarter. BlackRock Inc. now owns 42,432,232 shares of the financial services provider’s stock worth $3,383,971,000 after buying an additional 2,758,761 shares in the last quarter. Alleghany Corp DE bought a new position in shares of Marsh & McLennan Companies during the fourth quarter worth about $79,750,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Marsh & McLennan Companies by 13.9% during the third quarter. JPMorgan Chase & Co. now owns 7,748,014 shares of the financial services provider’s stock worth $640,917,000 after buying an additional 945,494 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.
MMC stock traded up $0.07 during mid-day trading on Monday, reaching $95.86. The company had a trading volume of 23,363 shares, compared to its average volume of 1,755,526. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.44. The company has a market cap of $48.59 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 1.76 and a beta of 0.86. Marsh & McLennan Companies, Inc. has a 52 week low of $74.30 and a 52 week high of $96.34.
Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.19 billion. Marsh & McLennan Companies had a return on equity of 29.72% and a net margin of 11.16%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. On average, equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 4.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.455 per share. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.42. This represents a $1.82 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Wednesday, July 10th. Marsh & McLennan Companies’s payout ratio is currently 38.16%.
In other news, VP Stacy Mills sold 1,245 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $92.60, for a total transaction of $115,287.00. Following the completion of the transaction, the vice president now directly owns 2,923 shares in the company, valued at approximately $270,669.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter J. Beshar sold 67,655 shares of Marsh & McLennan Companies stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $93.14, for a total value of $6,301,386.70. Following the transaction, the executive vice president now owns 487,576 shares of the company’s stock, valued at $45,412,828.64. The disclosure for this sale can be found here. Insiders have sold a total of 122,691 shares of company stock valued at $11,406,907 over the last quarter. 1.16% of the stock is currently owned by corporate insiders.
A number of research firms recently issued reports on MMC. ValuEngine upgraded Marsh & McLennan Companies from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Zacks Investment Research downgraded Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Goldman Sachs Group initiated coverage on Marsh & McLennan Companies in a research note on Monday, April 8th. They issued a “neutral” rating and a $98.00 price target for the company. Wells Fargo & Co restated a “market perform” rating and issued a $95.00 price target on shares of Marsh & McLennan Companies in a research note on Friday, April 5th. Finally, Citigroup set a $99.00 price target on Marsh & McLennan Companies and gave the company a “buy” rating in a research note on Saturday, February 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $93.60.
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Marsh & McLennan Companies Company Profile
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, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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