Point72 Asset Management L.P. Buys Shares of 105,372 Marsh & McLennan Companies, Inc. (NYSE:MMC)

Point72 Asset Management L.P. bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 105,372 shares of the financial services provider's stock, valued at approximately $23,507,000.

Several other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in Marsh & McLennan Companies by 4,991.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider's stock worth $146,047,000 after acquiring an additional 679,474 shares in the last quarter. FMR LLC boosted its stake in Marsh & McLennan Companies by 2.5% during 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 grew its holdings in shares of Marsh & McLennan Companies by 127.9% in 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 purchasing an additional 504,897 shares during the period. International Assets Investment Management LLC raised its position in shares of Marsh & McLennan Companies by 31,846.5% during the 3rd quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider's stock valued at $95,430,000 after buying an additional 426,425 shares during the period. Finally, Truist Financial Corp increased its stake in Marsh & McLennan Companies by 93.9% during the second quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider's stock worth $160,563,000 after acquiring an additional 368,970 shares during the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MMC has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their target price on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. BMO Capital Markets lifted their target price on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the company a "market perform" rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price target on Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a "sector perform" rating in a research note on Friday, October 18th. Bank of America boosted their price objective on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Finally, UBS Group raised their target price on Marsh & McLennan Companies from $255.00 to $259.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $227.60.

Insider Transactions at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction dated 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 directly owns 48,549 shares of the company's stock, valued at $10,756,030.95. This represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.30% of the company's stock.

Marsh & McLennan Companies Stock Down 1.4 %

Marsh & McLennan Companies stock traded down $3.10 during midday trading on Friday, reaching $225.16. The company's stock had a trading volume of 1,311,257 shares, compared to its average volume of 1,695,293. The business has a 50-day simple moving average of $224.77 and a 200-day simple moving average of $220.32. The company has a market cap of $110.58 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.77 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a fifty-two week low of $184.28 and a fifty-two week high of $235.50. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.89.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.02. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the company posted $1.57 earnings per share. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. On average, research analysts expect that Marsh & McLennan Companies, Inc. will post 8.68 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 4th were paid a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, October 4th. Marsh & McLennan Companies's dividend payout ratio is currently 40.15%.

Marsh & McLennan Companies Profile

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.