OneAscent Financial Services LLC Invests $338,000 in Marsh & McLennan Companies, Inc. (NYSE:MMC)

OneAscent Financial Services LLC purchased a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,517 shares of the financial services provider’s stock, valued at approximately $338,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Caprock Group LLC increased its position in Marsh & McLennan Companies by 5.1% in the 3rd quarter. Caprock Group LLC now owns 13,267 shares of the financial services provider’s stock valued at $2,960,000 after acquiring an additional 649 shares in the last quarter. Lindenwold Advisors INC increased its position in Marsh & McLennan Companies by 1.1% in the 3rd quarter. Lindenwold Advisors INC now owns 14,961 shares of the financial services provider’s stock valued at $3,338,000 after acquiring an additional 157 shares in the last quarter. OneAscent Wealth Management LLC acquired a new stake in Marsh & McLennan Companies in the 3rd quarter valued at about $252,000. Drive Wealth Management LLC increased its position in Marsh & McLennan Companies by 4.3% in the 3rd quarter. Drive Wealth Management LLC now owns 1,441 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 59 shares in the last quarter. Finally, Quest Partners LLC increased its position in Marsh & McLennan Companies by 7,868.0% in the 3rd quarter. Quest Partners LLC now owns 14,183 shares of the financial services provider’s stock valued at $3,164,000 after acquiring an additional 14,005 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total transaction of $553,875.00. Following the completion of the transaction, the director now owns 48,549 shares in the company, valued at approximately $10,756,030.95. This represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

MMC has been the subject of several research reports. Barclays initiated coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 price objective for the company. Wells Fargo & Company lowered their price target on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. Bank of America lifted their price target on shares of Marsh & McLennan Companies from $248.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. UBS Group lifted their price target on shares of Marsh & McLennan Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Marsh & McLennan Companies has an average rating of “Hold” and a consensus target price of $225.33.

Marsh & McLennan Companies Stock Up 0.7 %

Marsh & McLennan Companies stock opened at $223.67 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. Marsh & McLennan Companies, Inc. has a fifty-two week low of $184.28 and a fifty-two week high of $232.32. The company’s 50 day simple moving average is $224.17 and its 200 day simple moving average is $218.32. The firm has a market capitalization of $109.85 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 3.30 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.02. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.57 earnings per share. As a group, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were issued a $0.815 dividend. This represents a $3.26 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 40.15%.

About Marsh & McLennan Companies

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.