Marsh & McLennan Companies, Inc. (MMC) Stake Lessened by Bayesian Capital Management LP
Bayesian Capital Management LP cut its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 30.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,476 shares of the financial services provider’s stock after selling 1,924 shares during the period. Bayesian Capital Management LP’s holdings in Marsh & McLennan Companies were worth $349,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of MMC. Carroll Financial Associates Inc. lifted its holdings in shares of Marsh & McLennan Companies by 21.8% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,301 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 233 shares during the last quarter. Tompkins Financial Corp boosted its position in shares of Marsh & McLennan Companies by 10.9% in the 2nd quarter. Tompkins Financial Corp now owns 1,370 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 135 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Marsh & McLennan Companies in the 2nd quarter worth $109,000. Grove Bank & Trust grew its stake in Marsh & McLennan Companies by 5.6% during the 2nd quarter. Grove Bank & Trust now owns 1,603 shares of the financial services provider’s stock worth $125,000 after buying an additional 85 shares during the last quarter. Finally, CWM LLC grew its stake in Marsh & McLennan Companies by 0.7% during the 2nd quarter. CWM LLC now owns 1,774 shares of the financial services provider’s stock worth $138,000 after buying an additional 13 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.
In other Marsh & McLennan Companies news, SVP E Scott Gilbert sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $77.31, for a total transaction of $2,319,300.00. Following the transaction, the senior vice president now owns 68,427 shares of the company’s stock, valued at $5,290,091.37. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.46% of the company’s stock.
Several research analysts recently issued reports on the company. BidaskClub lowered Marsh & McLennan Companies from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Barclays PLC raised their price target on Marsh & McLennan Companies from $84.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. Zacks Investment Research raised Marsh & McLennan Companies from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, June 27th. Morgan Stanley restated an “equal weight” rating and set a $80.00 price target (up previously from $73.00) on shares of Marsh & McLennan Companies in a research note on Friday, July 7th. Finally, Jefferies Group LLC restated a “hold” rating on shares of Marsh & McLennan Companies in a research note on Friday, June 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. Marsh & McLennan Companies currently has a consensus rating of “Buy” and an average price target of $81.56.
Marsh & McLennan Companies, Inc. (NYSE MMC) opened at 83.81 on Monday. The firm’s 50-day moving average is $78.64 and its 200-day moving average is $76.59. Marsh & McLennan Companies, Inc. has a 52-week low of $62.33 and a 52-week high of $84.32. The stock has a market capitalization of $42.95 billion, a price-to-earnings ratio of 23.16 and a beta of 1.00.
Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.00 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.00. Marsh & McLennan Companies had a net margin of 13.97% and a return on equity of 28.56%. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the business earned $0.91 EPS. Marsh & McLennan Companies’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts predict that Marsh & McLennan Companies, Inc. will post $3.80 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 10th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.50 annualized dividend and a yield of 1.79%. Marsh & McLennan Companies’s dividend payout ratio is presently 41.44%.
Marsh & McLennan Companies 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.
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