State of Michigan Retirement System increased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 12.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,336 shares of the financial services provider’s stock after purchasing an additional 14,635 shares during the quarter. State of Michigan Retirement System’s holdings in Marsh & McLennan Companies were worth $13,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Gradient Investments LLC lifted its stake in shares of Marsh & McLennan Companies by 29.4% during the 2nd quarter. Gradient Investments LLC now owns 445 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 101 shares during the last quarter. Tower View Investment Management & Research LLC increased its position in Marsh & McLennan Companies by 0.4% during the 1st quarter. Tower View Investment Management & Research LLC now owns 31,032 shares of the financial services provider’s stock valued at $2,683,000 after buying an additional 111 shares in the last quarter. BerganKDV Wealth Management LLC increased its position in Marsh & McLennan Companies by 33.2% during the 1st quarter. BerganKDV Wealth Management LLC now owns 469 shares of the financial services provider’s stock valued at $41,000 after buying an additional 117 shares in the last quarter. ETRADE Capital Management LLC increased its position in Marsh & McLennan Companies by 0.4% during the 1st quarter. ETRADE Capital Management LLC now owns 28,323 shares of the financial services provider’s stock valued at $2,449,000 after buying an additional 118 shares in the last quarter. Finally, Ameritas Investment Company LLC increased its position in Marsh & McLennan Companies by 51.7% during the 1st quarter. Ameritas Investment Company LLC now owns 361 shares of the financial services provider’s stock valued at $30,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 87.39% of the company’s stock.

Several brokerages recently issued reports on MMC. Raymond James reduced their target price on Marsh & McLennan Companies from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Wells Fargo & Co reduced their target price on Marsh & McLennan Companies from $106.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. UBS Group raised Marsh & McLennan Companies to a “buy” rating and set a $120.00 price objective on the stock in a report on Tuesday, April 14th. MKM Partners cut their price objective on Marsh & McLennan Companies from $115.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Finally, Cfra raised Marsh & McLennan Companies from a “hold” rating to a “buy” rating and cut their price objective for the company from $120.00 to $110.00 in a report on Thursday, April 30th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $111.45.

Marsh & McLennan Companies stock traded down $0.11 during midday trading on Friday, hitting $116.60. 2,093,115 shares of the company were exchanged, compared to its average volume of 1,247,084. The firm has a market capitalization of $59.01 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 4.72 and a beta of 0.89. Marsh & McLennan Companies, Inc. has a fifty-two week low of $74.33 and a fifty-two week high of $119.88. The business has a fifty day simple moving average of $109.16 and a two-hundred day simple moving average of $104.90. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.13 and a current ratio of 1.37.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.13 by $0.19. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.18 billion. Marsh & McLennan Companies had a return on equity of 31.82% and a net margin of 11.83%. Marsh & McLennan Companies’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. As a group, equities analysts expect that Marsh & McLennan Companies, Inc. will post 4.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 27th will be given a dividend of $0.465 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.86 dividend on an annualized basis and a yield of 1.60%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.46. Marsh & McLennan Companies’s dividend payout ratio is currently 39.91%.

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 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.

Read More: Closed-End Mutual Funds (CEFs)

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).

Institutional Ownership by Quarter for Marsh & McLennan Companies (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.