Private Bank & Trust Co. Has $368,000 Position in Marsh & McLennan Companies, Inc. (MMC)

Private Bank & Trust Co. decreased its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 65.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,714 shares of the financial services provider’s stock after selling 8,904 shares during the period. Private Bank & Trust Co.’s holdings in Marsh & McLennan Companies were worth $368,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Marsh & McLennan Companies by 3,253.2% in the first quarter. BlackRock Inc. now owns 37,456,799 shares of the financial services provider’s stock worth $2,767,683,000 after buying an additional 36,339,736 shares in the last quarter. Pioneer Investment Management Inc. acquired a new position in shares of Marsh & McLennan Companies during the first quarter worth approximately $222,051,000. Vanguard Group Inc. increased its position in shares of Marsh & McLennan Companies by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,060,612 shares of the financial services provider’s stock worth $2,516,739,000 after buying an additional 1,105,074 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of Marsh & McLennan Companies during the first quarter worth approximately $60,210,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Marsh & McLennan Companies during the first quarter worth approximately $60,210,000. 85.68% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies, Inc. (MMC) opened at 77.02 on Friday. The firm has a 50-day moving average price of $78.43 and a 200 day moving average price of $75.10. The stock has a market capitalization of $39.47 billion, a PE ratio of 21.28 and a beta of 0.98. Marsh & McLennan Companies, Inc. has a 12 month low of $62.33 and a 12 month high of $81.00.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, July 27th. The financial services provider reported $1.00 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.00. Marsh & McLennan Companies had a return on equity of 28.56% and a net margin of 13.97%. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Equities analysts anticipate that Marsh & McLennan Companies, Inc. will post $3.81 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 11th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, July 7th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.34. Marsh & McLennan Companies’s payout ratio is 41.44%.

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MMC has been the subject of a number of research reports. Wells Fargo & Company reiterated a “buy” rating on shares of Marsh & McLennan Companies in a report on Thursday, April 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $80.00 price objective (up previously from $74.00) on shares of Marsh & McLennan Companies in a report on Friday, April 28th. Deutsche Bank AG increased their price objective on Marsh & McLennan Companies from $76.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $75.00 price objective on shares of Marsh & McLennan Companies in a report on Friday, June 2nd. Finally, BidaskClub raised Marsh & McLennan Companies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.56.

In other news, SVP Laurie Ledford sold 184,305 shares of Marsh & McLennan Companies stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $74.03, for a total transaction of $13,644,099.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.46% of the stock is currently owned by insiders.

Marsh & McLennan Companies 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 risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy.

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

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