TD Asset Management Inc Reduces Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

TD Asset Management Inc lessened its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 780,053 shares of the financial services provider’s stock after selling 31,935 shares during the period. TD Asset Management Inc owned 0.16% of Marsh & McLennan Companies worth $164,373,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MMC. Drive Wealth Management LLC boosted its holdings in Marsh & McLennan Companies by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 49 shares during the period. Ritholtz Wealth Management grew its position in shares of Marsh & McLennan Companies by 0.6% during the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock worth $1,887,000 after buying an additional 51 shares in the last quarter. Evoke Wealth LLC increased its stake in shares of Marsh & McLennan Companies by 4.4% during the fourth quarter. Evoke Wealth LLC now owns 1,258 shares of the financial services provider’s stock worth $238,000 after buying an additional 53 shares during the period. RDA Financial Network raised its holdings in Marsh & McLennan Companies by 3.1% in the first quarter. RDA Financial Network now owns 1,762 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 53 shares in the last quarter. Finally, Optas LLC grew its holdings in Marsh & McLennan Companies by 2.9% during the 1st quarter. Optas LLC now owns 1,880 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Down 1.3 %

MMC opened at $228.46 on Friday. The business has a 50 day moving average price of $220.04 and a two-hundred day moving average price of $210.32. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.91. The company has a market cap of $112.57 billion, a PE ratio of 28.99, a P/E/G ratio of 3.17 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 52 week low of $184.02 and a 52 week high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.40 by $0.01. The firm had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.31 billion. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 EPS. As a group, research analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.74 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were paid a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, July 25th. Marsh & McLennan Companies’s dividend payout ratio is 41.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Marsh & McLennan Companies from $223.00 to $233.00 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. Roth Mkm lifted their price target on Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Royal Bank of Canada upped their price objective on Marsh & McLennan Companies from $228.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Barclays started coverage on Marsh & McLennan Companies in a research report on Wednesday. They set an “equal weight” rating and a $236.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $215.53.

Insider Buying and Selling at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 6,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $209.01, for a total transaction of $1,254,060.00. Following the sale, the director now owns 53,393 shares in the company, valued at approximately $11,159,670.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Mark C. Mcgivney sold 10,265 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the sale, the chief financial officer now owns 33,678 shares in the company, valued at $7,625,035.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Oscar Fanjul sold 6,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $209.01, for a total value of $1,254,060.00. Following the completion of the transaction, the director now directly owns 53,393 shares in the company, valued at $11,159,670.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,735 shares of company stock worth $6,151,377. 0.30% of the stock is owned by insiders.

About Marsh & McLennan Companies

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 through Risk and Insurance Services, and Consulting segments. 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, strategic advisory services, and analytics solutions, and insurance program management services.