Parthenon LLC Holds Position in Marsh & McLennan Cos. (MMC)
Parthenon LLC continued to hold its stake in Marsh & McLennan Cos. (NYSE:MMC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,818 shares of the company’s stock at the end of the second quarter. Parthenon LLC’s holdings in Marsh & McLennan Cos. were worth $1,768,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Washington Trust Bank increased its stake in Marsh & McLennan Cos. by 2.9% in the second quarter. Washington Trust Bank now owns 1,685 shares of the company’s stock worth $115,000 after buying an additional 48 shares during the last quarter. BlueMountain Capital Management LLC bought a new stake in Marsh & McLennan Cos. during the first quarter worth about $121,000. Howard Hughes Medical Institute bought a new stake in Marsh & McLennan Cos. during the first quarter worth about $136,000. Financial Architects Inc increased its stake in Marsh & McLennan Cos. by 326.2% in the second quarter. Financial Architects Inc now owns 2,144 shares of the company’s stock worth $146,000 after buying an additional 1,641 shares during the last quarter. Finally, Integrated Investment Consultants LLC increased its stake in Marsh & McLennan Cos. by 10.7% in the second quarter. Integrated Investment Consultants LLC now owns 2,356 shares of the company’s stock worth $161,000 after buying an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 85.97% of the company’s stock.
Marsh & McLennan Cos. (NYSE:MMC) traded up 1.24% during mid-day trading on Wednesday, reaching $67.63. 1,735,427 shares of the company traded hands. The stock has a 50 day moving average price of $67.11 and a 200-day moving average price of $64.69. Marsh & McLennan Cos. has a 52-week low of $50.81 and a 52-week high of $68.69. The company has a market capitalization of $35.05 billion, a P/E ratio of 21.61 and a beta of 0.98.
Marsh & McLennan Cos. (NYSE:MMC) last released its earnings results on Thursday, July 28th. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.01. Marsh & McLennan Cos. had a return on equity of 25.30% and a net margin of 12.54%. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Marsh & McLennan Cos. will post $3.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, October 11th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.01%. Marsh & McLennan Cos.’s dividend payout ratio (DPR) is presently 43.45%.
A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Marsh & McLennan Cos. from $69.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, July 29th. Zacks Investment Research cut shares of Marsh & McLennan Cos. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $74.00 price target (up from $73.00) on shares of Marsh & McLennan Cos. in a research report on Wednesday, August 3rd. Barclays PLC reaffirmed an “overweight” rating and set a $71.00 price target on shares of Marsh & McLennan Cos. in a research report on Tuesday, June 21st. Finally, Credit Suisse Group AG set a $55.00 price target on shares of Marsh & McLennan Cos. and gave the company a “hold” rating in a research report on Monday, September 12th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $66.64.
In other news, Chairman Alexander S. Moczarski sold 22,230 shares of Marsh & McLennan Cos. stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $67.41, for a total transaction of $1,498,524.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.51% of the company’s stock.
About Marsh & McLennan Cos.
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 specialty consultants, including Marsh, an insurance broker, intermediary and risk advisor; Guy Carpenter, a risk and reinsurance specialist; Mercer, a provider of human resource (HR) and related financial advice and services, and Oliver Wyman Group, a management, economic and brand consultancy.
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