Allstate Corp Takes Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Allstate Corp purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,805 shares of the financial services provider’s stock, valued at approximately $3,357,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at approximately $1,236,186,000. Amundi raised its holdings in Marsh & McLennan Companies by 81.1% in the 4th quarter. Amundi now owns 4,072,976 shares of the financial services provider’s stock valued at $860,824,000 after acquiring an additional 1,823,807 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Marsh & McLennan Companies by 7,320.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,108,758 shares of the financial services provider’s stock worth $235,511,000 after purchasing an additional 1,093,817 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Marsh & McLennan Companies in the fourth quarter worth $207,278,000. Finally, Proficio Capital Partners LLC raised its stake in Marsh & McLennan Companies by 29,648.6% in the fourth quarter. Proficio Capital Partners LLC now owns 688,978 shares of the financial services provider’s stock valued at $146,346,000 after purchasing an additional 686,662 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Price Performance

Shares of NYSE:MMC opened at $242.39 on Friday. Marsh & McLennan Companies, Inc. has a twelve month low of $196.17 and a twelve month high of $243.89. The firm has a market capitalization of $119.04 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 2.70 and a beta of 0.95. The stock’s 50 day moving average is $229.65 and its 200-day moving average is $224.11. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.12. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. Sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 3rd will be paid a $0.815 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $3.26 annualized dividend and a dividend yield of 1.34%. Marsh & McLennan Companies’s payout ratio is presently 39.80%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada raised shares of Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $242.00 to $250.00 in a research note on Thursday, December 12th. Wells Fargo & Company lifted their price target on Marsh & McLennan Companies from $212.00 to $223.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on Marsh & McLennan Companies from $230.00 to $235.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Redburn Atlantic started coverage on Marsh & McLennan Companies in a research note on Tuesday, March 25th. They set a “buy” rating and a $281.00 target price for the company. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $233.41.

Insider Activity

In other news, CEO Nicholas Mark Studer sold 49,390 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $230.16, for a total transaction of $11,367,602.40. Following the transaction, the chief executive officer now directly owns 28,329 shares in the company, valued at approximately $6,520,202.64. This represents a 63.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stacy Mills sold 1,317 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $234.97, for a total transaction of $309,455.49. Following the transaction, the vice president now directly owns 2,923 shares in the company, valued at approximately $686,817.31. This represents a 31.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,828 shares of company stock valued at $13,350,279 in the last 90 days. Insiders own 0.30% of the company’s stock.

About Marsh & McLennan Companies

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.