Allstate Corp Makes New $3.36 Million Investment in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Allstate Corp purchased a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,805 shares of the financial services provider's stock, valued at approximately $3,357,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MMC. Financial Life Planners bought a new stake in shares of Marsh & McLennan Companies during the 4th quarter worth about $33,000. Sierra Ocean LLC acquired a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth $36,000. Albion Financial Group UT bought a new position in Marsh & McLennan Companies during the fourth quarter worth about $38,000. Golden State Wealth Management LLC acquired a new stake in Marsh & McLennan Companies in the 4th quarter worth about $41,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of Marsh & McLennan Companies during the 4th quarter worth approximately $45,000. Institutional investors own 87.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Marsh & McLennan Companies from $230.00 to $235.00 and gave the company a "neutral" rating in a report on Friday, January 3rd. 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. Keefe, Bruyette & Woods reduced their price objective on 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. Raymond James reissued an "outperform" rating and issued a $250.00 target price (up previously from $240.00) on shares of Marsh & McLennan Companies in a report on Thursday, February 6th. Finally, Redburn Atlantic began coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, March 25th. They set a "buy" rating and a $281.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $233.41.

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Insider Buying and Selling

In other news, CEO Nicholas Mark Studer sold 49,390 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $6,520,202.64. This represents a 63.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Stacy Mills sold 1,317 shares of the business's 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 sale, the vice president now owns 2,923 shares of the company's stock, valued at $686,817.31. This trade represents a 31.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,397 shares of company stock valued at $15,694,684 over the last ninety days. 0.30% of the stock is owned by corporate insiders.

Marsh & McLennan Companies Trading Down 0.1 %

MMC stock traded down $0.28 during midday trading on Wednesday, hitting $243.72. The stock had a trading volume of 2,042,198 shares, compared to its average volume of 1,809,022. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. The firm has a market cap of $119.70 billion, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 2.70 and a beta of 0.95. The business has a fifty day moving average price of $230.73 and a two-hundred day moving average price of $224.28. Marsh & McLennan Companies, Inc. has a 1-year low of $196.17 and a 1-year high of $245.98.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.87 earnings per share (EPS) 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%. On average, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

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

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.