Stearns Financial Services Group held its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) during the second quarter, Holdings Channel reports. The fund owned 3,000 shares of the financial services provider’s stock at the end of the second quarter. Stearns Financial Services Group’s holdings in Marsh & McLennan Companies were worth $234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MMC. Schwab Charles Investment Management Inc. boosted its position in Marsh & McLennan Companies by 6.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,650,406 shares of the financial services provider’s stock valued at $128,666,000 after buying an additional 93,689 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in Marsh & McLennan Companies by 0.4% in the second quarter. Wetherby Asset Management Inc. now owns 5,038 shares of the financial services provider’s stock valued at $393,000 after buying an additional 19 shares during the last quarter. Global X Management Co. LLC boosted its position in Marsh & McLennan Companies by 13.3% in the second quarter. Global X Management Co. LLC now owns 4,775 shares of the financial services provider’s stock valued at $372,000 after buying an additional 560 shares during the last quarter. Pioneer Investment Management Inc. boosted its position in Marsh & McLennan Companies by 14.7% in the second quarter. Pioneer Investment Management Inc. now owns 3,445,716 shares of the financial services provider’s stock valued at $268,628,000 after buying an additional 440,550 shares during the last quarter. Finally, Advisor Partners LLC boosted its position in Marsh & McLennan Companies by 53.4% in the second quarter. Advisor Partners LLC now owns 11,218 shares of the financial services provider’s stock valued at $875,000 after buying an additional 3,907 shares during the last quarter. 85.68% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies, Inc. (MMC) opened at 77.48 on Thursday. The firm has a 50 day moving average of $78.54 and a 200-day moving average of $75.02. Marsh & McLennan Companies, Inc. has a 52-week low of $62.33 and a 52-week high of $81.00. The company has a market capitalization of $39.71 billion, a price-to-earnings ratio of 21.41 and a beta of 0.98.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 11th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.94%. This is a positive change 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 firms have recently weighed in on MMC. Wells Fargo & Company reissued a “buy” rating on shares of Marsh & McLennan Companies in a report on Wednesday. BidaskClub cut shares of Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Marsh & McLennan Companies from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada reissued a “buy” rating and set a $85.00 price objective on shares of Marsh & McLennan Companies in a report on Friday, July 28th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $87.00 target price (up from $80.00) on shares of Marsh & McLennan Companies in a report on Monday, July 24th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $81.56.

In other news, SVP Laurie Ledford sold 184,305 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $74.03, for a total transaction of $13,644,099.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.46% of the stock is owned by insiders.

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.

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

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