Evercore Wealth Management LLC trimmed its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.0% during the first quarter, HoldingsChannel.com reports. The firm owned 8,779 shares of the financial services provider’s stock after selling 87 shares during the period. Evercore Wealth Management LLC’s holdings in Marsh & McLennan Companies were worth $1,070,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Certified Advisory Corp acquired a new position in shares of Marsh & McLennan Companies in the first quarter worth approximately $27,000. First Quadrant L P CA bought a new stake in Marsh & McLennan Companies in the first quarter worth approximately $27,000. Piscataqua Savings Bank bought a new stake in Marsh & McLennan Companies in the first quarter worth approximately $28,000. Prime Capital Investment Advisors LLC bought a new stake in Marsh & McLennan Companies in the first quarter worth approximately $40,000. Finally, Evoke Wealth LLC increased its holdings in Marsh & McLennan Companies by 193.5% in the first quarter. Evoke Wealth LLC now owns 364 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 240 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.
MMC has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on Marsh & McLennan Companies from $126.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, April 16th. Raymond James restated a “market perform” rating on shares of Marsh & McLennan Companies in a report on Wednesday, April 21st. Wells Fargo & Company boosted their price objective on Marsh & McLennan Companies from $133.00 to $144.00 and gave the company an “equal weight” rating in a report on Friday, July 9th. UBS Group boosted their price objective on Marsh & McLennan Companies from $133.00 to $157.00 and gave the company a “buy” rating in a report on Friday, July 9th. Finally, Citigroup upped their price target on Marsh & McLennan Companies from $125.00 to $130.00 in a report on Wednesday, March 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Marsh & McLennan Companies has an average rating of “Hold” and an average price target of $132.56.
Shares of NYSE MMC opened at $142.39 on Thursday. The company has a market cap of $72.41 billion, a price-to-earnings ratio of 32.51, a P/E/G ratio of 2.72 and a beta of 0.92. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.23 and a quick ratio of 1.23. The business has a 50-day simple moving average of $138.80. Marsh & McLennan Companies, Inc. has a twelve month low of $102.11 and a twelve month high of $144.09.
Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Monday, April 26th. The financial services provider reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.28. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.79 billion. Marsh & McLennan Companies had a return on equity of 30.29% and a net margin of 12.72%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 EPS. On average, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 5.67 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 13th. Stockholders of record on Thursday, July 29th will be given a dividend of $0.535 per share. The ex-dividend date is Wednesday, July 28th. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.47. This represents a $2.14 annualized dividend and a dividend yield of 1.50%. Marsh & McLennan Companies’s dividend payout ratio is 37.42%.
Marsh & McLennan Companies Profile
Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services, and Consulting. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.
Recommended Story: How does new data get added to a blockchain?
Want to see what other hedge funds are holding MMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MMC).
Receive News & Ratings for Marsh & McLennan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marsh & McLennan Companies and related companies with MarketBeat.com's FREE daily email newsletter.