FDx Advisors Inc. Buys Shares of 823 Marsh & McLennan Companies, Inc. (NYSE:MMC)

FDx Advisors Inc. bought a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 823 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Arizona State Retirement System raised its holdings in Marsh & McLennan Companies by 2.8% during the 1st quarter. Arizona State Retirement System now owns 146,034 shares of the financial services provider’s stock valued at $35,637,000 after acquiring an additional 3,946 shares during the period. Kathmere Capital Management LLC increased its holdings in shares of Marsh & McLennan Companies by 17.5% in the first quarter. Kathmere Capital Management LLC now owns 6,311 shares of the financial services provider’s stock worth $1,540,000 after purchasing an additional 941 shares during the period. IFC Advisors LLC purchased a new stake in shares of Marsh & McLennan Companies during the first quarter worth about $614,000. Xponance Inc. boosted its holdings in shares of Marsh & McLennan Companies by 1.0% during the first quarter. Xponance Inc. now owns 78,179 shares of the financial services provider’s stock worth $19,078,000 after purchasing an additional 738 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Marsh & McLennan Companies by 107.7% during the first quarter. Cerity Partners LLC now owns 260,963 shares of the financial services provider’s stock worth $63,682,000 after purchasing an additional 135,306 shares during the period. Institutional investors own 87.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Marsh & McLennan Companies from $215.00 to $214.00 and set an “underperform” rating for the company in a report on Wednesday. UBS Group increased their target price on shares of Marsh & McLennan Companies from $259.00 to $261.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Barclays dropped their target price on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an “equal weight” rating for the company in a report on Monday, July 7th. Redburn Atlantic assumed coverage on shares of Marsh & McLennan Companies in a report on Tuesday, March 25th. They set a “buy” rating and a $281.00 target price for the company. Finally, Wells Fargo & Company increased their price target on shares of Marsh & McLennan Companies from $228.00 to $229.00 and gave the stock an “equal weight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $240.50.

Marsh & McLennan Companies Price Performance

Shares of NYSE MMC opened at $211.62 on Friday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $207.21 and a fifty-two week high of $248.00. The company has a 50 day simple moving average of $222.70 and a two-hundred day simple moving average of $224.76. The company has a market capitalization of $104.27 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 2.59 and a beta of 0.80. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.14 and a current ratio of 1.14.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, April 17th. The financial services provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.04. Marsh & McLennan Companies had a net margin of 16.13% and a return on equity of 32.19%. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.08 billion. During the same quarter last year, the firm earned $2.89 earnings per share. Analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 24th will be paid a dividend of $0.90 per share. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.82. The ex-dividend date is Thursday, July 24th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.70%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 39.95%.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.