Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by AlTi Global Inc.

AlTi Global Inc. decreased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 62.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 982 shares of the financial services provider’s stock after selling 1,613 shares during the quarter. AlTi Global Inc.’s holdings in Marsh & McLennan Companies were worth $207,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kingfisher Capital LLC raised its stake in shares of Marsh & McLennan Companies by 4.7% during the second quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 47 shares during the last quarter. Insigneo Advisory Services LLC raised its position in Marsh & McLennan Companies by 6.7% during the 2nd quarter. Insigneo Advisory Services LLC now owns 1,873 shares of the financial services provider’s stock worth $405,000 after buying an additional 117 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Marsh & McLennan Companies by 59.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 94,175 shares of the financial services provider’s stock valued at $19,845,000 after acquiring an additional 35,108 shares in the last quarter. Gateway Advisory LLC purchased a new position in Marsh & McLennan Companies during the second quarter worth about $331,000. Finally, Marshall Wace LLP purchased a new stake in Marsh & McLennan Companies in the 2nd quarter valued at approximately $20,882,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MMC has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Barclays started coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 target price on the stock. Roth Mkm raised their price objective on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada upped their target price on shares of 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. 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 stock. Based on data from MarketBeat.com, Marsh & McLennan Companies has a consensus rating of “Hold” and a consensus price target of $215.53.

Marsh & McLennan Companies Stock Performance

NYSE MMC opened at $223.80 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.91. Marsh & McLennan Companies, Inc. has a fifty-two week low of $184.02 and a fifty-two week high of $232.32. The business has a fifty day moving average of $223.58 and a 200-day moving average of $212.78. The stock has a market cap of $110.27 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 3.13 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, July 18th. The financial services provider reported $2.41 earnings per share 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 net margin of 16.97% and a return on equity of 33.92%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. As a group, analysts predict that Marsh & McLennan Companies, Inc. will post 8.74 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 4th will be paid a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, October 4th. Marsh & McLennan Companies’s payout ratio is 41.37%.

Insider Buying and Selling at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, VP Stacy Mills sold 4,101 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $225.77, for a total transaction of $925,882.77. Following the transaction, the vice president now owns 2,923 shares of the company’s stock, valued at $659,925.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Marsh & McLennan Companies news, SVP Paul Beswick sold 2,169 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $477,180.00. Following the completion of the sale, the senior vice president now directly owns 11,861 shares in the company, valued at $2,609,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stacy Mills sold 4,101 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $225.77, for a total value of $925,882.77. Following the sale, the vice president now owns 2,923 shares of the company’s stock, valued at approximately $659,925.71. The disclosure for this sale can be found here. Insiders sold 21,735 shares of company stock worth $4,897,317 in the last 90 days. 0.30% of the stock is owned by company insiders.

Marsh & McLennan Companies Profile

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.