State of Michigan Retirement System Has $29.88 Million Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

State of Michigan Retirement System decreased its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 140,675 shares of the financial services provider’s stock after selling 1,400 shares during the period. State of Michigan Retirement System’s holdings in Marsh & McLennan Companies were worth $29,881,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Carmichael Hill & Associates Inc. increased its holdings in shares of Marsh & McLennan Companies by 85.7% in the third quarter. Carmichael Hill & Associates Inc. now owns 130 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 60 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Marsh & McLennan Companies during the third quarter worth about $31,000. Financial Life Planners bought a new position in Marsh & McLennan Companies in the fourth quarter valued at approximately $33,000. Sierra Ocean LLC bought a new position in Marsh & McLennan Companies in the fourth quarter valued at approximately $36,000. Finally, Albion Financial Group UT bought a new position in Marsh & McLennan Companies in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MMC. JPMorgan Chase & Co. raised their price objective on Marsh & McLennan Companies from $230.00 to $235.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Barclays lifted their price target on Marsh & McLennan Companies from $236.00 to $246.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Raymond James reaffirmed an “outperform” rating and issued a $250.00 price objective (up from $240.00) on shares of Marsh & McLennan Companies in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on Marsh & McLennan Companies from $212.00 to $223.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods decreased their price target on Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $230.44.

Marsh & McLennan Companies Stock Up 0.7 %

Shares of MMC opened at $239.53 on Tuesday. The company has a market capitalization of $117.64 billion, a PE ratio of 29.25, a PEG ratio of 2.70 and a beta of 0.96. Marsh & McLennan Companies, Inc. has a 12 month low of $196.17 and a 12 month high of $239.81. The stock’s 50-day moving average price is $221.02 and its two-hundred day moving average price is $222.97. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, January 30th. The financial services provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.75 by $0.12. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. On average, analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, January 30th were paid a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, January 30th. Marsh & McLennan Companies’s dividend payout ratio is 39.80%.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.