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Fifth Third Wealth Advisors reduced its Marsh & McLennan stake by 12.8% in Q2, despite strong earnings and a $0.90 dividend set for November 14.
Fifth Third Wealth Advisors LLC reduced its stake in Marsh & McLennan (MMC) by 12.8% in the second quarter, holding 6,260 shares worth about $1.37 million.
The company reported strong second-quarter earnings on July 17, with adjusted EPS of $2.72, beating estimates by $0.06, and a 12.1% year-over-year revenue increase to $6.97 billion.
MMC has a market cap of $101.83 billion, a P/E ratio of 24.83, and a dividend yield of 1.7%.
A quarterly dividend of $0.90 is set for November 14, with shareholders of record on October 2.
CEO John Q. Doyle sold $4.33 million in shares on September 2.
Analysts maintain a consensus "Hold" rating with a target price of $237.13.
Fifth Third Wealth Advisors redujo su participación en Marsh & McLennan en un 12.8% en el segundo trimestre, a pesar de las fuertes ganancias y un dividendo de $0.90 fijado para el 14 de noviembre.