Marsh & McLennan Cos. (MMC) Position Reduced by Waverton Investment Management Ltd
Waverton Investment Management Ltd cut its stake in shares of Marsh & McLennan Cos. (NYSE:MMC) by 15.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 436,559 shares of the company’s stock after selling 79,649 shares during the period. Marsh & McLennan Cos. makes up approximately 2.2% of Waverton Investment Management Ltd’s holdings, making the stock its 17th largest position. Waverton Investment Management Ltd owned about 0.08% of Marsh & McLennan Cos. worth $29,887,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. LMR Partners LLP raised its stake in Marsh & McLennan Cos. by 171.0% in the second quarter. LMR Partners LLP now owns 16,263 shares of the company’s stock valued at $1,113,000 after buying an additional 10,262 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Marsh & McLennan Cos. during the second quarter valued at $214,000. First National Trust Co. raised its stake in Marsh & McLennan Cos. by 0.9% in the second quarter. First National Trust Co. now owns 8,622 shares of the company’s stock valued at $590,000 after buying an additional 79 shares during the last quarter. David R. Rahn & Associates Inc. acquired a new stake in Marsh & McLennan Cos. during the second quarter valued at $1,332,000. Finally, Bartlett & Co. LLC raised its stake in Marsh & McLennan Cos. by 1.7% in the second quarter. Bartlett & Co. LLC now owns 6,112 shares of the company’s stock valued at $418,000 after buying an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 85.97% of the company’s stock.
Marsh & McLennan Cos. (NYSE:MMC) traded up 0.74% during mid-day trading on Thursday, reaching $66.47. 1,454,297 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $67.14 and a 200-day moving average price of $65.30. The stock has a market cap of $34.45 billion, a P/E ratio of 21.24 and a beta of 0.93. Marsh & McLennan Cos. has a 52 week low of $50.81 and a 52 week high of $68.69.
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 Zacks’ consensus estimate of $0.90 by $0.01. Marsh & McLennan Cos. had a return on equity of 25.30% and a net margin of 12.54%. The company earned $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts forecast that Marsh & McLennan Cos. will post $3.38 earnings per share for the current year.
The firm 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. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.05%. Marsh & McLennan Cos.’s dividend payout ratio (DPR) is presently 43.45%.
Several research firms have recently commented on MMC. Zacks Investment Research lowered shares of Marsh & McLennan Cos. from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays PLC restated a “buy” rating and set a $77.00 price target on shares of Marsh & McLennan Cos. in a research report on Friday, September 30th. 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. BMO Capital Markets restated a “market perform” rating and set a $74.00 price target (up previously from $73.00) on shares of Marsh & McLennan Cos. in a research report on Wednesday, August 3rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Marsh & McLennan Cos. from $69.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Marsh & McLennan Cos. presently has a consensus rating of “Buy” and an average target price of $68.50.
In other news, Chairman Alexander S. Moczarski sold 22,230 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $67.41, for a total value of $1,498,524.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is owned by insiders.
Marsh & McLennan Cos. Company Profile
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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