Ballentine Partners LLC raised its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 8.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,326 shares of the financial services provider’s stock after purchasing an additional 185 shares during the quarter. Ballentine Partners LLC’s holdings in Marsh & McLennan Companies were worth $232,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Lenox Wealth Advisors LLC bought a new position in Marsh & McLennan Companies in the second quarter valued at about $26,000. Coastal Capital Group Inc. bought a new position in shares of Marsh & McLennan Companies during the second quarter worth about $30,000. Meeder Asset Management Inc. bought a new position in shares of Marsh & McLennan Companies during the second quarter worth about $30,000. Capital Advisors Ltd. LLC bought a new position in shares of Marsh & McLennan Companies during the second quarter worth about $31,000. Finally, Gradient Investments LLC bought a new position in shares of Marsh & McLennan Companies during the third quarter worth about $34,000. Hedge funds and other institutional investors own 86.79% of the company’s stock.
MMC has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on Marsh & McLennan Companies from $101.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Zacks Investment Research downgraded Marsh & McLennan Companies from a “hold” rating to a “sell” rating and set a $105.00 price objective for the company. in a research report on Monday, July 1st. UBS Group raised their price objective on Marsh & McLennan Companies from $98.00 to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, ValuEngine downgraded Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Marsh & McLennan Companies presently has an average rating of “Hold” and an average price target of $99.33.
Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.05. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. Marsh & McLennan Companies had a return on equity of 29.72% and a net margin of 9.45%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. As a group, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 4.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $0.455 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.82 dividend on an annualized basis and a yield of 1.84%. Marsh & McLennan Companies’s payout ratio is currently 41.84%.
About Marsh & McLennan Companies
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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