Federated Hermes Inc. increased its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) by 101.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,112 shares of the financial services provider’s stock after purchasing an additional 14,170 shares during the period. Federated Hermes Inc.’s holdings in Marsh & McLennan Companies were worth $4,682,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in MMC. Geode Capital Management LLC grew its position in Marsh & McLennan Companies by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 10,306,370 shares of the financial services provider’s stock valued at $1,702,898,000 after acquiring an additional 65,306 shares during the period. Moneta Group Investment Advisors LLC grew its position in Marsh & McLennan Companies by 105,777.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,772,516 shares of the financial services provider’s stock valued at $1,617,156,000 after acquiring an additional 9,763,286 shares during the period. Price T Rowe Associates Inc. MD grew its position in Marsh & McLennan Companies by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,188,078 shares of the financial services provider’s stock valued at $1,520,443,000 after acquiring an additional 735,798 shares during the period. Mawer Investment Management Ltd. grew its position in Marsh & McLennan Companies by 3.3% during the fourth quarter. Mawer Investment Management Ltd. now owns 7,807,853 shares of the financial services provider’s stock valued at $1,292,044,000 after acquiring an additional 249,614 shares during the period. Finally, Morgan Stanley grew its position in Marsh & McLennan Companies by 49.2% during the fourth quarter. Morgan Stanley now owns 6,293,827 shares of the financial services provider’s stock valued at $1,041,503,000 after acquiring an additional 2,075,928 shares during the period. Hedge funds and other institutional investors own 86.33% of the company’s stock.
Insider Activity
In other news, CEO Dean Michael Klisura sold 12,976 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $192.20, for a total transaction of $2,493,987.20. Following the completion of the transaction, the chief executive officer now directly owns 20,935 shares of the company’s stock, valued at $4,023,707. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Dean Michael Klisura sold 12,976 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $192.20, for a total value of $2,493,987.20. Following the sale, the chief executive officer now directly owns 20,935 shares in the company, valued at approximately $4,023,707. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark C. Mcgivney sold 70,106 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $185.53, for a total value of $13,006,766.18. Following the completion of the sale, the chief financial officer now owns 33,678 shares in the company, valued at $6,248,279.34. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on MMC shares. JPMorgan Chase & Co. boosted their price target on Marsh & McLennan Companies from $182.00 to $197.00 in a research report on Thursday, July 6th. BMO Capital Markets boosted their price objective on Marsh & McLennan Companies from $168.00 to $192.00 in a research note on Monday, May 15th. Bank of America upgraded Marsh & McLennan Companies from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $189.00 to $210.00 in a research note on Friday, July 21st. Wells Fargo & Company boosted their price objective on Marsh & McLennan Companies from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Friday, July 21st. Finally, StockNews.com upgraded Marsh & McLennan Companies from a “hold” rating to a “buy” rating in a research note on Friday, July 21st. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Marsh & McLennan Companies has a consensus rating of “Hold” and a consensus target price of $193.23.
Read Our Latest Report on Marsh & McLennan Companies
Marsh & McLennan Companies Trading Up 0.1 %
Shares of NYSE MMC opened at $192.10 on Tuesday. The stock’s 50 day moving average price is $185.83 and its two-hundred day moving average price is $175.80. Marsh & McLennan Companies, Inc. has a 52-week low of $148.11 and a 52-week high of $194.16. The stock has a market capitalization of $94.89 billion, a P/E ratio of 29.33, a PEG ratio of 2.37 and a beta of 0.94. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.84.
Marsh & McLennan Companies (NYSE:MMC – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Marsh & McLennan Companies’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts anticipate that Marsh & McLennan Companies, Inc. will post 7.71 earnings per share for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Thursday, July 27th will be issued a dividend of $0.71 per share. The ex-dividend date is Wednesday, July 26th. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.59. This represents a $2.84 annualized dividend and a dividend yield of 1.48%. Marsh & McLennan Companies’s dividend payout ratio is 43.36%.
Marsh & McLennan Companies Company Profile
Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.
See Also
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