Lake Street Advisors Group LLC Has $1.03 Million Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Lake Street Advisors Group LLC lessened its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,867 shares of the financial services provider’s stock after selling 269 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Marsh & McLennan Companies were worth $1,026,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MMC. Norges Bank acquired a new position in Marsh & McLennan Companies in the fourth quarter valued at about $1,048,077,000. Price T Rowe Associates Inc. MD raised its stake in Marsh & McLennan Companies by 32.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,243,245 shares of the financial services provider’s stock valued at $1,940,789,000 after purchasing an additional 2,526,701 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Marsh & McLennan Companies by 4,991.4% in the second quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider’s stock valued at $146,047,000 after purchasing an additional 679,474 shares in the last quarter. Jennison Associates LLC raised its stake in Marsh & McLennan Companies by 229.6% during the first quarter. Jennison Associates LLC now owns 932,452 shares of the financial services provider’s stock worth $192,066,000 after acquiring an additional 649,505 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in Marsh & McLennan Companies by 322.7% during the fourth quarter. Corient Private Wealth LLC now owns 761,238 shares of the financial services provider’s stock worth $144,232,000 after acquiring an additional 581,131 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $227.85 on Friday. The business’s 50 day simple moving average is $220.38 and its 200 day simple moving average is $210.58. Marsh & McLennan Companies, Inc. has a one year low of $184.02 and a one year high of $232.32. The stock has a market capitalization of $112.27 billion, a PE ratio of 28.91, a PEG ratio of 3.17 and a beta of 0.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.17 and a quick ratio of 1.17.

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

Marsh & McLennan Companies Increases Dividend

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

Insider Buying and Selling at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 6,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 53,393 shares of the company’s stock, valued at $11,159,670.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Paul Beswick sold 2,169 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $477,180.00. Following the transaction, the senior vice president now directly owns 11,861 shares of the company’s stock, valued at $2,609,420. The sale 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 company’s stock in a transaction that occurred 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 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. Over the last three months, insiders have sold 27,735 shares of company stock valued at $6,151,377. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on MMC shares. Bank of America boosted their target price on Marsh & McLennan Companies from $223.00 to $233.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Royal Bank of Canada boosted their target price on Marsh & McLennan Companies from $228.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, July 19th. Roth Mkm boosted their target price on Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Barclays began coverage on Marsh & McLennan Companies in a report on Wednesday. They set an “equal weight” rating and a $236.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $215.53.

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.