Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 29.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,492 shares of the financial services provider’s stock after purchasing an additional 7,075 shares during the quarter. NewEdge Advisors LLC’s holdings in Marsh & McLennan Companies were worth $6,636,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Creative Planning raised its position in Marsh & McLennan Companies by 7.1% in the second quarter. Creative Planning now owns 92,722 shares of the financial services provider’s stock valued at $19,538,000 after purchasing an additional 6,166 shares during the period. Ascent Group LLC increased its stake in Marsh & McLennan Companies by 26.1% during the 2nd quarter. Ascent Group LLC now owns 16,467 shares of the financial services provider’s stock worth $3,470,000 after buying an additional 3,407 shares during the period. Kathmere Capital Management LLC boosted its position in Marsh & McLennan Companies by 11.0% in the 2nd quarter. Kathmere Capital Management LLC now owns 5,078 shares of the financial services provider’s stock valued at $1,070,000 after buying an additional 502 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Marsh & McLennan Companies during the 2nd quarter worth about $4,193,000. Finally, Legal & General Group Plc grew its holdings in Marsh & McLennan Companies by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 4,530,716 shares of the financial services provider’s stock worth $954,712,000 after acquiring an additional 223,257 shares in the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MMC has been the subject of a number of recent analyst reports. Bank of America lifted their price target on Marsh & McLennan Companies from $235.00 to $248.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays started coverage on Marsh & McLennan Companies in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 price objective for the company. Roth Mkm lifted 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. JPMorgan Chase & Co. increased their price objective on Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Royal Bank of Canada boosted their target price on Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $216.41.

Marsh & McLennan Companies Stock Performance

NYSE:MMC opened at $222.79 on Wednesday. Marsh & McLennan Companies, Inc. has a twelve month low of $184.02 and a twelve month high of $232.32. The company has a market capitalization of $109.77 billion, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 3.13 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average price of $224.01 and a two-hundred day moving average price of $213.28.

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, research analysts expect that Marsh & McLennan Companies, Inc. will post 8.74 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

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 Activity

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 related news, VP Stacy Mills sold 4,101 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $225.77, for a total value of $925,882.77. Following the completion of the sale, the vice president now directly owns 2,923 shares in the company, valued at approximately $659,925.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark C. Mcgivney sold 5,200 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $225.03, for a total value of $1,170,156.00. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at approximately $7,578,560.34. The disclosure for this sale can be found here. Insiders sold a total of 21,735 shares of company stock valued at $4,897,317 in the last 90 days. 0.30% of the stock is currently owned by insiders.

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.