Marsh & McLennan Companies, Inc. (NYSE:MMC) Position Lowered by Huntington National Bank
Huntington National Bank decreased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,729 shares of the financial services provider’s stock after selling 1,622 shares during the period. Huntington National Bank’s holdings in Marsh & McLennan Companies were worth $6,757,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Lenox Wealth Advisors LLC bought a new position in shares of Marsh & McLennan Companies during the second quarter worth about $26,000. Canton Hathaway LLC bought a new position in shares of Marsh & McLennan Companies during the first quarter worth about $30,000. Thor Advisors LLC bought a new position in shares of Marsh & McLennan Companies during the first quarter worth about $37,000. Zions Bancorporation N.A. bought a new position in shares of Marsh & McLennan Companies during the first quarter worth about $42,000. Finally, Manchester Financial Inc. bought a new position in shares of Marsh & McLennan Companies during the second quarter worth about $67,000. 85.17% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of First Merchants from a “hold” rating to a “sell” rating in a research report on Monday, July 1st. Wells Fargo & Co reissued a “hold” rating on shares of AON in a report on Friday, April 5th. UBS Group raised their target price on shares of Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Keefe, Bruyette & Woods cut shares of Marsh & McLennan Companies from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $100.00 to $99.00 in a report on Wednesday, June 12th. Finally, ValuEngine cut shares of Yext from a “strong-buy” rating to a “buy” rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $97.30.
Marsh & McLennan Companies (NYSE:MMC) last issued its earnings results on Thursday, April 25th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.07. Marsh & McLennan Companies had a net margin of 11.16% and a return on equity of 29.72%. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter last year, the company posted $1.23 earnings per share. Marsh & McLennan Companies’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 4.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be issued a $0.455 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.82 dividend on an annualized basis and a yield of 1.78%. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.42. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 41.84%.
Marsh & McLennan Companies Company 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, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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