C2C Wealth Management LLC bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE: MMC – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,580 shares of the financial services provider’s stock, valued at approximately $ 448,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. JustInvest LLC increased its holdings in shares of Marsh & McLennan Companies by 26.8% during the fourth quarter. JustInvest LLC now owns 18,885 shares of the financial services provider’s stock worth $ 3,283,000 after purchasing an additional 3,993 shares during the period. BlackRock Inc. increased its holdings in shares of Marsh & McLennan Companies by 7.4% during the fourth quarter. BlackRock Inc. now owns 43,136,914 shares of the financial services provider’s stock worth $ 7,498,062,000 after purchasing an additional 2,986,547 shares during the period. Cornerstone Advisory LLC bought a new position in Marsh & McLennan Companies in the fourth quarter valued at approximately $ 64,000. Tyler Stone Wealth Management bought a new position in Marsh & McLennan Companies in the fourth quarter valued at approximately $ 94,000. Finally, Voleon Capital Management LP bought a new position in Marsh & McLennan Companies in the fourth quarter valued at approximately $ 29,549,000. 88.61% of the stock is currently owned by institutional investors.
MMC stock opened at $ 144.34 on Friday. The firm has a market cap of $ 72.45 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 2.52 and a beta of 0.95. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Marsh & McLennan Companies, Inc. has a 12-month low of $ 133.86 and a 12-month high of $ 183.14. The company fifty day simple moving average is $ 160.56 and its 200 day simple moving average is $ 161.28.
Marsh & McLennan Companies (NYSE: MMC – Get Rating) last released its earnings results on Thursday, April 21st. The financial services provider reported $ 2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 2.13 by $ 0.17. The business had revenue of $ 5.55 billion for the quarter, compared to analyst estimates of $ 5.50 billion. Marsh & McLennan Companies had a net margin of 15.93% and a return on equity of 31.17%. Marsh & McLennan Companies’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $ 1.99 earnings per share. Research analysts expect that Marsh & McLennan Companies, Inc. will post 6.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Wednesday, April 6th were paid a $ 0.535 dividend. This represents a $ 2.14 annualized dividend and a yield of 1.48%. The ex-dividend date was Tuesday, April 5th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 33.86%.
Marsh & McLennan Companies announced that its board has approved a stock repurchase program on Wednesday, March 23rd that allows the company to buyback $ 5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company board of directors believes its stock is undervalued.
A number of research analysts recently issued reports on the stock. Raymond James lifted their price objective on shares of Marsh & McLennan Companies from $ 185.00 to $ 190.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. Piper Sandler raised their target price on shares of Marsh & McLennan Companies from $ 185.00 to $ 197.00 and gave the company an “overweight” rating in a research report on Friday, April 22nd. MKM Partners raised their target price on shares of Marsh & McLennan Companies from $ 160.00 to $ 180.00 and gave the company a “neutral” rating in a research report on Friday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Marsh & McLennan Companies from $ 158.00 to $ 163.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. Finally, Wells Fargo & Company upgraded shares of Marsh & McLennan Companies from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $ 164.00 to $ 183.00 in a report on Tuesday, May 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $ 173.90.
In other news, CEO Martin South sold 2,950 shares of the business’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $ 169.26, for a total transaction of $ 499,317.00. Following the completion of the sale, the chief executive officer now directly owns 1,301 shares of the company stock, valued at $ 220,207.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Paul Beswick sold 1,791 shares of the business’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $ 171.21, for a total transaction of $ 306,637.11. The disclosure for this sale can be found here. Insiders own 0.80% of the company stock.
Marsh & McLennan Companies Company Profile: (Get Rating)
Marsh & McLennan Cos., Inc is a professional services firm, which offers clients advice and solutions in risk, strategy and people. It operates through the following business segments: Risk & Insurance Services and Consulting. The Risk and Insurance Services segment includes risk management activities, as well as insurance and reinsurance broking and services.
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