AdvisorNet Financial Inc Lowers Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

AdvisorNet Financial Inc reduced its stake in Marsh & McLennan Companies, Inc. (NYSE:MMCGet Rating) by 15.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,857 shares of the financial services provider’s stock after selling 345 shares during the period. AdvisorNet Financial Inc’s holdings in Marsh & McLennan Companies were worth $288,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Crestwood Advisors Group LLC raised its stake in shares of Marsh & McLennan Companies by 0.9% in the second quarter. Crestwood Advisors Group LLC now owns 188,165 shares of the financial services provider’s stock valued at $29,213,000 after acquiring an additional 1,736 shares in the last quarter. American Trust raised its stake in Marsh & McLennan Companies by 69.3% in the first quarter. American Trust now owns 31,985 shares of the financial services provider’s stock valued at $5,451,000 after buying an additional 13,092 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Marsh & McLennan Companies in the first quarter valued at $315,000. Bank of America Corp DE raised its stake in Marsh & McLennan Companies by 4.9% in the first quarter. Bank of America Corp DE now owns 7,696,958 shares of the financial services provider’s stock valued at $1,311,716,000 after buying an additional 358,908 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Marsh & McLennan Companies by 11.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,707 shares of the financial services provider’s stock valued at $14,436,000 after buying an additional 8,668 shares in the last quarter. 87.76% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $157.22 on Tuesday. Marsh & McLennan Companies, Inc. has a 12 month low of $142.80 and a 12 month 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 firm has a market capitalization of $78.91 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.80 and a beta of 0.90. The company’s fifty day moving average price is $162.57 and its two-hundred day moving average price is $160.83.

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

Marsh & McLennan Companies Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MMC. Jefferies Financial Group dropped their price objective on Marsh & McLennan Companies from $198.00 to $181.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. The Goldman Sachs Group initiated coverage on Marsh & McLennan Companies in a report on Tuesday, July 12th. They issued a “buy” rating and a $182.00 price target for the company. Wells Fargo & Company boosted their price target on Marsh & McLennan Companies to $185.00 in a report on Friday, July 22nd. Finally, Morgan Stanley downgraded Marsh & McLennan Companies from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $163.00 to $145.00 in a report on Friday, June 3rd. Two equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $177.60.

About Marsh & McLennan Companies

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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.

Further Reading

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

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