DNB Asset Management AS boosted its holdings in Marsh & McLennan Companies, Inc. (NYSE: MMC – Get Rating) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 121,355 shares of the financial services provider’s stock after acquiring an additional 5,786 shares during the quarter. DNB Asset Management AS’s holdings in Marsh & McLennan Companies were worth $ 20,681,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Delos Wealth Advisors LLC bought a new position in Marsh & McLennan Companies in the 4th quarter worth about $ 25,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Marsh & McLennan Companies during the 4th quarter valued at about $ 28,000. Smith Group Asset Management LLC increased its position in shares of Marsh & McLennan Companies by 196.6% during the 4th quarter. Smith Group Asset Management LLC now owns 172 shares of the financial services provider’s stock valued at $ 30,000 after purchasing an additional 114 shares during the last quarter. Mascoma Wealth Management LLC increased its position in shares of Marsh & McLennan Companies by 268.0% during the 4th quarter. Mascoma Wealth Management LLC now owns 184 shares of the financial services provider’s stock valued at $ 32,000 after purchasing an additional 134 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. boosted its holdings in Marsh & McLennan Companies by 90.7% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 185 shares of the financial services provider’s stock valued at $ 32,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 88.61% of the company stock.
MMC has been the subject of several analyst reports. Morgan Stanley cut Marsh & McLennan Companies from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $ 163.00 to $ 145.00 in a report on Friday, June 3rd. Royal Bank of Canada increased their target price on Marsh & McLennan Companies from $ 170.00 to $ 185.00 and gave the company a “sector perform” rating in a report on Friday, April 22nd. Piper Sandler increased their target price on Marsh & McLennan Companies from $ 185.00 to $ 197.00 and gave the company an “overweight” rating in a report on Friday, April 22nd. JPMorgan Chase & Co. increased their target price on Marsh & McLennan Companies from $ 158.00 to $ 163.00 and gave the company a “neutral” rating in a report on Thursday, April 21st. Finally, MKM Partners increased their price objective on Marsh & McLennan Companies from $ 160.00 to $ 180.00 and gave the stock a “neutral” rating in a report on Friday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Marsh & McLennan Companies has a consensus rating of “Hold” and an average price target of $ 173.90.
In related news, CEO Martin South sold 2,950 shares of the firm’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $ 169.26, for a total transaction of $ 499,317.00. Following the completion of the transaction, the chief executive officer now owns 1,301 shares of the company stock, valued at approximately $ 220,207.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Paul Beswick sold 1,791 shares of Marsh & McLennan Companies stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $ 171.21, for a total value of $ 306,637.11. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.
MMC opened at $ 144.44 on Monday. The stock has a market cap of $ 72.50 billion, a PE ratio of 22.85, a PEG ratio of 2.45 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. The business has a 50 day moving average of $ 160.00 and a 200-day moving average of $ 161.07. Marsh & McLennan Companies, Inc. has a 52 week low of $ 133.86 and a 52 week high of $ 183.14.
Marsh & McLennan Companies (NYSE: MMC – Get Rating) last released its earnings results on Thursday, April 21st. The financial services provider reported $ 2.30 EPS for the quarter, beating analysts’ consensus estimates of $ 2.13 by $ 0.17. The company had revenue of $ 5.55 billion during the quarter, compared to analysts’ expectations of $ 5.50 billion. Marsh & McLennan Companies had a return on equity of 31.17% and a net margin of 15.93%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $ 1.99 EPS. Equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 6.82 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Wednesday, April 6th were paid a $ 0.535 dividend. This represents a $ 2.14 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Tuesday, April 5th. Marsh & McLennan Companies’s payout ratio is presently 33.86%.
Marsh & McLennan Companies announced that its board has approved a share buyback program on Wednesday, March 23rd that allows the company to repurchase $ 5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company management believes its shares are undervalued.
Marsh & McLennan Companies 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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