Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC grew its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 58.8% during the 4th quarter, Holdings Channel reports. The fund owned 19,861 shares of the financial services provider’s stock after purchasing an additional 7,351 shares during the period. Park Avenue Securities LLC’s holdings in Marsh & McLennan Companies were worth $4,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its position in 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 during the period. FMR LLC boosted its stake in shares of Marsh & McLennan Companies by 2.5% in the third quarter. FMR LLC now owns 21,445,110 shares of the financial services provider’s stock worth $4,784,190,000 after buying an additional 518,185 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Marsh & McLennan Companies by 127.9% during the third quarter. The Manufacturers Life Insurance Company now owns 899,716 shares of the financial services provider’s stock valued at $200,718,000 after acquiring an additional 504,897 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Marsh & McLennan Companies by 31,846.5% in the third quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider’s stock valued at $95,430,000 after acquiring an additional 426,425 shares during the period. Finally, Truist Financial Corp boosted its position in Marsh & McLennan Companies by 93.9% in the 2nd quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock worth $160,563,000 after purchasing an additional 368,970 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group set a $220.00 target price on shares of Marsh & McLennan Companies and gave the company a “sell” rating in a research note on Friday, October 18th. Royal Bank of Canada raised shares of Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $242.00 to $250.00 in a research note on Thursday, December 12th. Bank of America upped their price target on Marsh & McLennan Companies from $248.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company cut their price objective on 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. Finally, BMO Capital Markets lifted their price target on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $228.60.

Insider Buying and Selling

In other news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total value of $553,875.00. Following the completion of the sale, the director now owns 48,549 shares of the company’s stock, valued at $10,756,030.95. This represents a 4.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Marsh & McLennan Companies Trading Up 1.8 %

MMC opened at $216.42 on Friday. The firm has a market capitalization of $106.29 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. The company’s 50 day simple moving average is $218.96 and its two-hundred day simple moving average is $221.09. Marsh & McLennan Companies, Inc. has a 1-year low of $188.31 and a 1-year high of $235.50. 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 (NYSE:MMC) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.71 billion. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.57 earnings per share. Analysts expect that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 30th will be issued a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, January 30th. Marsh & McLennan Companies’s dividend payout ratio is currently 40.15%.

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.