Pictet Asset Management Ltd. raised its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 469,685 shares of the financial services provider’s stock after buying an additional 15,178 shares during the period. Pictet Asset Management Ltd.’s holdings in Marsh & McLennan Companies were worth $36,428,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MMC. Carroll Financial Associates Inc. raised its stake in shares of Marsh & McLennan Companies by 21.8% in the second quarter. Carroll Financial Associates Inc. now owns 1,301 shares of the financial services provider’s stock valued at $101,000 after buying an additional 233 shares during the last quarter. 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 valued at $107,000 after buying an additional 135 shares during the last quarter. CENTRAL TRUST Co raised 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 worth $111,000 after buying an additional 102 shares in the last quarter. Ledyard National Bank raised 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 worth $112,000 after buying an additional 1,310 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Marsh & McLennan Companies by 5.6% in the second 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 in the last quarter. 85.68% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies, Inc. (NYSE MMC) opened at 77.48 on Thursday. The stock has a market cap of $39.71 billion, a P/E ratio of 21.41 and a beta of 0.98. The company’s 50-day moving average price is $78.54 and its 200-day moving average price is $75.02. 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 announced its earnings results on Thursday, July 27th. The financial services provider reported $1.00 EPS for the quarter, meeting analysts’ consensus estimates of $1.00. The firm 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%. Marsh & McLennan Companies’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Equities analysts forecast that Marsh & McLennan Companies, Inc. will post $3.81 earnings per share 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 dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, July 7th. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.34. Marsh & McLennan Companies’s dividend payout ratio is 41.44%.

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MMC has been the topic of a number of research analyst reports. Wells Fargo & Company reaffirmed a “buy” rating on shares of Marsh & McLennan Companies in a research note on Thursday, April 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $80.00 price target (up from $74.00) on shares of Marsh & McLennan Companies in a research note on Friday, April 28th. Deutsche Bank AG lifted their price target on Marsh & McLennan Companies from $76.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $75.00 price target on shares of Marsh & McLennan Companies in a research note 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 investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Marsh & McLennan Companies currently has a consensus rating of “Buy” and a consensus price target of $81.56.

In other Marsh & McLennan Companies news, SVP Laurie Ledford sold 184,305 shares of the 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 legal filing with the SEC, which is accessible through the SEC website. 1.46% of the stock is currently owned by corporate 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.

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

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