Brookfield Corp ON bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 147,829 shares of the financial services provider’s stock, valued at approximately $24,621,000.
Several other large investors have also recently made changes to their positions in the company. BSW Wealth Partners increased its holdings in shares of Marsh & McLennan Companies by 7.3% in the first quarter. BSW Wealth Partners now owns 3,384 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 231 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in Marsh & McLennan Companies by 2,122.3% in the first quarter. Schonfeld Strategic Advisors LLC now owns 97,868 shares of the financial services provider’s stock worth $16,300,000 after acquiring an additional 93,464 shares in the last quarter. Meeder Advisory Services Inc. grew its position in Marsh & McLennan Companies by 8.4% in the first quarter. Meeder Advisory Services Inc. now owns 6,227 shares of the financial services provider’s stock worth $1,037,000 after acquiring an additional 482 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Marsh & McLennan Companies by 9.8% in the first quarter. Moneta Group Investment Advisors LLC now owns 9,580 shares of the financial services provider’s stock worth $1,596,000 after acquiring an additional 854 shares in the last quarter. Finally, Ambassador Advisors LLC grew its position in Marsh & McLennan Companies by 18.8% in the first quarter. Ambassador Advisors LLC now owns 2,475 shares of the financial services provider’s stock worth $446,000 after acquiring an additional 391 shares in the last quarter. 86.64% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 70,106 shares of the stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $185.53, for a total transaction of $13,006,766.18. Following the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at approximately $6,248,279.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 70,106 shares of the stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $185.53, for a total transaction of $13,006,766.18. Following the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at approximately $6,248,279.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Oscar Fanjul sold 3,000 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $194.90, for a total value of $584,700.00. Following the sale, the director now directly owns 63,012 shares in the company, valued at $12,281,038.80. The disclosure for this sale can be found here. Insiders sold 86,082 shares of company stock worth $16,085,453 in the last 90 days. Insiders own 0.30% of the company’s stock.
Marsh & McLennan Companies Stock Up 0.5 %
Shares of NYSE MMC opened at $195.75 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $96.69 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.42 and a beta of 0.94. The stock’s fifty day simple moving average is $190.65 and its two-hundred day simple moving average is $179.02. Marsh & McLennan Companies, Inc. has a 12-month low of $148.11 and a 12-month high of $197.79.
Marsh & McLennan Companies (NYSE:MMC – Get Free Report) last announced its earnings results on Thursday, July 20th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.08. Marsh & McLennan Companies had a return on equity of 33.69% and a net margin of 15.20%. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter last year, the firm earned $1.89 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, analysts expect that Marsh & McLennan Companies, Inc. will post 7.71 EPS for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Thursday, July 27th were paid a $0.71 dividend. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 26th. This represents a $2.84 dividend on an annualized basis and a yield of 1.45%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 43.36%.
Analysts Set New Price Targets
MMC has been the subject of several recent research reports. BMO Capital Markets lifted their price target on Marsh & McLennan Companies from $168.00 to $192.00 in a research report on Monday, May 15th. JPMorgan Chase & Co. upped their target price on Marsh & McLennan Companies from $182.00 to $197.00 in a research note on Thursday, July 6th. StockNews.com assumed coverage on Marsh & McLennan Companies in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Bank of America raised Marsh & McLennan Companies from an “underperform” rating to a “neutral” rating and upped their target price for the company from $189.00 to $210.00 in a research note on Friday, July 21st. Finally, Morgan Stanley upped their target price on Marsh & McLennan Companies from $202.00 to $205.00 and gave the company an “equal weight” rating in a research note on Friday, July 21st. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of “Hold” and an average price target of $193.23.
Read Our Latest Research Report on Marsh & McLennan Companies
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 in two segments, Risk and Insurance Services, and Consulting. 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.
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