Independent Advisor Alliance increased its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 119.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,635 shares of the financial services provider's stock after acquiring an additional 2,523 shares during the quarter. Independent Advisor Alliance's holdings in Marsh & McLennan Companies were worth $985,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in MMC. FMR LLC raised its holdings in 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 purchasing an additional 518,185 shares in the last quarter. Geode Capital Management LLC raised its holdings in Marsh & McLennan Companies by 2.2% in the third quarter. Geode Capital Management LLC now owns 11,905,431 shares of the financial services provider's stock worth $2,648,304,000 after purchasing an additional 251,361 shares in the last quarter. Parnassus Investments LLC raised its holdings in Marsh & McLennan Companies by 2.0% in the third quarter. Parnassus Investments LLC now owns 4,274,880 shares of the financial services provider's stock worth $953,683,000 after purchasing an additional 85,754 shares in the last quarter. Amundi raised its holdings in Marsh & McLennan Companies by 81.1% in the fourth quarter. Amundi now owns 4,072,976 shares of the financial services provider's stock worth $860,824,000 after purchasing an additional 1,823,807 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Marsh & McLennan Companies by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,999,771 shares of the financial services provider's stock valued at $892,309,000 after acquiring an additional 184,239 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. Royal Bank of Canada upgraded shares of Marsh & McLennan Companies from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $242.00 to $250.00 in a report on Thursday, December 12th. Evercore ISI restated an "outperform" rating and set a $242.00 price objective on shares of Marsh & McLennan Companies in a report on Monday, November 25th. Wells Fargo & Company upped their price objective on shares of Marsh & McLennan Companies from $212.00 to $223.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods cut their price objective on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Marsh & McLennan Companies from $230.00 to $235.00 and gave the stock a "neutral" rating in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of "Hold" and a consensus price target of $230.44.
Get Our Latest Analysis on MMC
Marsh & McLennan Companies Price Performance
Shares of MMC stock traded up $0.43 during mid-day trading on Wednesday, hitting $232.59. 1,558,459 shares of the stock were exchanged, compared to its average volume of 1,639,178. The firm has a fifty day moving average of $225.78 and a 200 day moving average of $223.66. 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, Inc. has a 52-week low of $196.17 and a 52-week high of $241.84. The company has a market cap of $114.23 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 2.70 and a beta of 0.95.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.12. Marsh & McLennan Companies had a net margin of 16.60% and a return on equity of 32.60%. Research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.
Marsh & McLennan Companies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, April 3rd. Marsh & McLennan Companies's payout ratio is currently 39.80%.
Insider Buying and Selling
In related news, CEO Nicholas Mark Studer sold 49,390 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $230.16, for a total transaction of $11,367,602.40. Following the completion of the transaction, the chief executive officer now owns 28,329 shares in the company, valued at $6,520,202.64. This represents a 63.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stacy Mills sold 1,317 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $234.97, for a total transaction of $309,455.49. Following the transaction, the vice president now owns 2,923 shares of the company's stock, valued at approximately $686,817.31. This trade represents a 31.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,828 shares of company stock worth $13,350,279 in the last 90 days. Insiders own 0.30% of the company's stock.
Marsh & McLennan Companies Profile
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Free Report)
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.
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