Washington Trust Bank Cuts Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Washington Trust Bank decreased its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,480 shares of the financial services provider’s stock after selling 87 shares during the period. Washington Trust Bank’s holdings in Marsh & McLennan Companies were worth $115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tompkins Financial Corp raised its stake in shares of Marsh & McLennan Companies by 10.9% in the second quarter. Tompkins Financial Corp now owns 1,370 shares of the financial services provider’s stock worth $107,000 after buying an additional 135 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of Marsh & McLennan Companies by 7.3% in the first quarter. CENTRAL TRUST Co now owns 1,502 shares of the financial services provider’s stock valued at $111,000 after buying an additional 102 shares during the period. Ledyard National Bank increased its stake in shares of Marsh & McLennan Companies by 651.7% in the first quarter. Ledyard National Bank now owns 1,511 shares of the financial services provider’s stock valued at $112,000 after buying an additional 1,310 shares during the period. Orrstown Financial Services Inc. increased its stake in shares of Marsh & McLennan Companies by 26.7% in the first quarter. Orrstown Financial Services Inc. now owns 1,615 shares of the financial services provider’s stock valued at $120,000 after buying an additional 340 shares during the period. Finally, CWM LLC raised its position in Marsh & McLennan Companies by 2,695.2% in the first quarter. CWM LLC now owns 1,761 shares of the financial services provider’s stock valued at $130,000 after buying an additional 1,698 shares in the last quarter. Hedge funds and other institutional investors own 85.68% of the company’s stock.

Marsh & McLennan Companies, Inc. (NYSE:MMC) opened at 77.02 on Friday. Marsh & McLennan Companies, Inc. has a 1-year low of $62.33 and a 1-year high of $81.00. The firm has a market cap of $39.47 billion, a P/E ratio of 21.28 and a beta of 0.98. The stock has a 50 day moving average price of $78.43 and a 200 day moving average price of $75.10.

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

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

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Several research analysts have recently commented on the stock. Wells Fargo & Company restated a “buy” rating on shares of Marsh & McLennan Companies in a research note on Thursday, April 27th. Jefferies Group LLC reissued a “hold” rating and issued a $80.00 price target (up from $74.00) on shares of Marsh & McLennan Companies in a report on Friday, April 28th. Deutsche Bank AG raised their price objective on shares of 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 set a $75.00 target price on shares of Marsh & McLennan Companies in a research report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Marsh & McLennan Companies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $81.56.

In other news, SVP Laurie Ledford sold 184,305 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $74.03, for a total transaction of $13,644,099.15. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.46% of the company’s stock.

About Marsh & McLennan Companies

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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