Heritage Wealth Management Inc. Takes Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Heritage Wealth Management Inc. acquired a new stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,852 shares of the financial services provider’s stock, valued at approximately $396,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Marsh & McLennan Companies by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 43,917,270 shares of the financial services provider’s stock valued at $9,046,079,000 after purchasing an additional 119,236 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Marsh & McLennan Companies by 3.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,624,073 shares of the financial services provider’s stock valued at $2,188,348,000 after purchasing an additional 380,828 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Marsh & McLennan Companies by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 4,530,716 shares of the financial services provider’s stock valued at $954,712,000 after purchasing an additional 223,257 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Marsh & McLennan Companies by 1.7% in the 2nd quarter. Clearbridge Investments LLC now owns 3,409,110 shares of the financial services provider’s stock valued at $718,368,000 after purchasing an additional 58,461 shares during the last quarter. Finally, Jensen Investment Management Inc. boosted its stake in Marsh & McLennan Companies by 1.3% during the second quarter. Jensen Investment Management Inc. now owns 3,226,258 shares of the financial services provider’s stock worth $679,837,000 after acquiring an additional 40,182 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $223.08 on Thursday. The firm has a 50-day moving average of $224.12 and a 200-day moving average of $213.35. The company has a market cap of $109.92 billion, a P/E ratio of 28.31, a P/E/G ratio of 3.13 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, Inc. has a one year low of $184.02 and a one year high of $232.32.

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

Marsh & McLennan Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 4th will be issued a dividend of $0.815 per share. The ex-dividend date is Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a yield of 1.46%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 41.37%.

Insider Buying and Selling

In related news, CFO Mark C. Mcgivney sold 10,265 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the completion of the sale, the chief financial officer now owns 33,678 shares in the company, valued at $7,625,035.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Mark C. Mcgivney sold 10,265 shares of Marsh & McLennan Companies stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $226.41, for a total value of $2,324,098.65. Following the completion of the transaction, the chief financial officer now owns 33,678 shares in the company, valued at $7,625,035.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark C. Mcgivney sold 5,200 shares of Marsh & McLennan Companies stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $225.03, for a total transaction of $1,170,156.00. Following the completion of the transaction, the chief financial officer now 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. Over the last 90 days, insiders sold 21,735 shares of company stock worth $4,897,317. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MMC shares. Bank of America increased their target price on shares of Marsh & McLennan Companies from $235.00 to $248.00 and gave the stock a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Royal Bank of Canada increased 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 note on Friday, July 19th. Barclays initiated coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 target price on the stock. Finally, 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. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $216.41.

Marsh & McLennan Companies Company 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.