Vanguard Group Inc. grew its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,739,515 shares of the financial services provider's stock after purchasing an additional 356,618 shares during the quarter. Vanguard Group Inc. owned approximately 9.11% of Marsh & McLennan Companies worth $9,503,120,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in MMC. Prospera Financial Services Inc grew its stake in Marsh & McLennan Companies by 10.6% in the third quarter. Prospera Financial Services Inc now owns 2,525 shares of the financial services provider's stock worth $563,000 after purchasing an additional 241 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Marsh & McLennan Companies by 19.0% during the 3rd quarter. Pacer Advisors Inc. now owns 57,976 shares of the financial services provider's stock worth $12,934,000 after buying an additional 9,257 shares in the last quarter. 49 Wealth Management LLC bought a new stake in shares of Marsh & McLennan Companies in the third quarter valued at about $201,000. Citigroup Inc. lifted its stake in Marsh & McLennan Companies by 4.8% in the third quarter. Citigroup Inc. now owns 508,245 shares of the financial services provider's stock worth $113,384,000 after acquiring an additional 23,445 shares during the period. Finally, Meridian Wealth Management LLC bought a new position in Marsh & McLennan Companies during the 3rd quarter worth about $209,000. 87.99% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Marsh & McLennan Companies news, CEO Dean Michael Klisura sold 7,121 shares of Marsh & McLennan Companies stock in a transaction on Monday, March 10th. The shares were sold at an average price of $234.97, for a total value of $1,673,221.37. Following the completion of the transaction, the chief executive officer now owns 20,935 shares of the company's stock, valued at approximately $4,919,096.95. The trade was a 25.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the chief executive officer now directly owns 28,329 shares in the company, valued at approximately $6,520,202.64. The trade was a 63.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,828 shares of company stock valued at $13,350,279. Company insiders own 0.30% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on MMC. Royal Bank of Canada raised shares of Marsh & McLennan Companies from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $242.00 to $250.00 in a research report on Thursday, December 12th. Keefe, Bruyette & Woods lowered their target price on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a report on Monday, February 3rd. Raymond James reissued an "outperform" rating and issued a $250.00 price target (up from $240.00) on shares of Marsh & McLennan Companies in a research report on Thursday, February 6th. JPMorgan Chase & Co. raised their price objective on Marsh & McLennan Companies from $230.00 to $235.00 and gave the company a "neutral" rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Marsh & McLennan Companies from $212.00 to $223.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $233.41.
Check Out Our Latest Stock Analysis on MMC
Marsh & McLennan Companies Stock Performance
Shares of NYSE MMC traded up $4.97 during mid-day trading on Thursday, hitting $243.77. The stock had a trading volume of 2,507,388 shares, compared to its average volume of 1,642,823. The company has a 50 day moving average of $229.10 and a two-hundred day moving average of $224.08. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $119.72 billion, a PE ratio of 29.76, a PEG ratio of 2.70 and a beta of 0.95. Marsh & McLennan Companies, Inc. has a twelve month low of $196.17 and a twelve month high of $245.16.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share 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 predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.
Marsh & McLennan Companies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 3rd will be issued a $0.815 dividend. This represents a $3.26 annualized dividend and a yield of 1.34%. The ex-dividend date is Thursday, April 3rd. Marsh & McLennan Companies's payout ratio is 39.80%.
Marsh & McLennan Companies Company 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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