Johnston Asset Management LLC Lowers Stake in Marsh & McLennan Cos. (MMC)
Johnston Asset Management LLC decreased its position in Marsh & McLennan Cos. (NYSE:MMC) by 5.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 478,506 shares of the company’s stock after selling 29,045 shares during the period. Marsh & McLennan Cos. makes up approximately 1.7% of Johnston Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Johnston Asset Management LLC’s holdings in Marsh & McLennan Cos. were worth $32,759,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Washington Trust Bank boosted its stake in shares of 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 in the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of Marsh & McLennan Cos. during the first quarter worth $121,000. Financial Architects Inc boosted its stake in shares of 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 in the last quarter. Howard Hughes Medical Institute acquired a new stake in shares of Marsh & McLennan Cos. during the first quarter worth $136,000. Finally, Integrated Investment Consultants LLC boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 85.97% of the company’s stock.
Shares of Marsh & McLennan Cos. (NYSE:MMC) traded down 0.43% during trading on Monday, hitting $66.96. 1,392,513 shares of the stock were exchanged. Marsh & McLennan Cos. has a 12-month low of $50.81 and a 12-month high of $68.69. The stock has a 50-day moving average of $67.20 and a 200 day moving average of $65.10. The stock has a market cap of $34.70 billion, a P/E ratio of 21.39 and a beta of 0.93.
Marsh & McLennan Cos. (NYSE:MMC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. The business earned $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Marsh & McLennan Cos. had a net margin of 12.54% and a return on equity of 25.30%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Equities analysts predict that Marsh & McLennan Cos. will post $3.38 earnings per share 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. The ex-dividend date is Thursday, October 6th. This represents a $1.36 annualized dividend and a yield of 2.03%. Marsh & McLennan Cos.’s payout ratio is 43.45%.
A number of brokerages recently weighed in on MMC. Zacks Investment Research upgraded shares of Marsh & McLennan Cos. from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Monday. Barclays PLC reiterated an “overweight” rating and set a $71.00 price target on shares of Marsh & McLennan Cos. in a research note on Tuesday, June 21st. BMO Capital Markets reiterated a “market perform” rating and set a $73.00 price target (down previously from $77.00) on shares of Marsh & McLennan Cos. in a research note on Tuesday, July 12th. Keefe, Bruyette & Woods increased their price target on shares of Marsh & McLennan Cos. from $69.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th. Finally, Deutsche Bank AG raised their target price on shares of Marsh & McLennan Cos. from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $68.50.
In other Marsh & McLennan Cos. news, Chairman Alexander S. Moczarski sold 22,230 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $67.41, for a total transaction of $1,498,524.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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