Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 47.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,323 shares of the financial services provider’s stock after selling 2,140 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Marsh & McLennan Companies were worth $567,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. City Holding Co. acquired a new stake in Marsh & McLennan Companies during the 1st quarter worth approximately $37,000. Ameriflex Group Inc. acquired a new stake in Marsh & McLennan Companies during the 4th quarter worth approximately $37,000. Garde Capital Inc. purchased a new stake in shares of Marsh & McLennan Companies in the 1st quarter valued at approximately $42,000. Transce3nd LLC purchased a new stake in shares of Marsh & McLennan Companies in the 4th quarter valued at approximately $39,000. Finally, First Pacific Financial increased its position in shares of Marsh & McLennan Companies by 133.8% in the 1st quarter. First Pacific Financial now owns 187 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 107 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Down 1.3%

Shares of NYSE MMC opened at $210.87 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.32. Marsh & McLennan Companies, Inc. has a 52 week low of $207.21 and a 52 week high of $248.00. The firm has a 50-day moving average price of $222.12 and a 200 day moving average price of $224.73. The stock has a market capitalization of $103.90 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 2.62 and a beta of 0.80.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $3.06 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.08 billion. During the same quarter last year, the business earned $2.89 earnings per share. Equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 24th will be paid a $0.90 dividend. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.82. The ex-dividend date is Thursday, July 24th. This represents a $3.60 annualized dividend and a dividend yield of 1.71%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 39.95%.

Analysts Set New Price Targets

A number of equities research analysts have commented on MMC shares. Wells Fargo & Company increased their price objective on shares of Marsh & McLennan Companies from $228.00 to $229.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Marsh & McLennan Companies from $215.00 to $214.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 9th. Redburn Atlantic started coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, March 25th. They issued a “buy” rating and a $281.00 price objective on the stock. UBS Group increased their target price on shares of Marsh & McLennan Companies from $259.00 to $261.00 and gave the company a “buy” rating in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group raised their price objective on shares of Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $240.50.

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.