BTS Asset Management Inc. Invests $473,000 in Marsh & McLennan Companies, Inc. $MMC

Key Points

• BTS Asset Management Inc. invested $473,000 in Marsh & McLennan Companies, acquiring 2,164 shares, making it the firm's 11th largest holding.
• CEO John Q. Doyle sold 21,079 shares for approximately $4.33 million, reducing his ownership by 19.38% to 87,681 shares.
• Marsh & McLennan reported a quarterly earnings per share of $1.85, exceeding analyst expectations and showing an 11.5% increase in revenue year-over-year.

BTS Asset Management Inc. bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 2,164 shares of the financial services provider's stock, valued at approximately $473,000. Marsh & McLennan Companies accounts for approximately 0.6% of BTS Asset Management Inc.'s investment portfolio, making the stock its 11th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Harbour Investments Inc. lifted its position in shares of Marsh & McLennan Companies by 3.6% in the 1st quarter. Harbour Investments Inc. now owns 1,253 shares of the financial services provider's stock worth $306,000 after purchasing an additional 44 shares during the period. IFP Advisors Inc lifted its position in shares of Marsh & McLennan Companies by 0.6% in the 1st quarter. IFP Advisors Inc now owns 7,479 shares of the financial services provider's stock worth $1,825,000 after purchasing an additional 47 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Marsh & McLennan Companies by 1.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,517 shares of the financial services provider's stock worth $1,102,000 after purchasing an additional 47 shares during the period. E Fund Management Co. Ltd. lifted its position in Marsh & McLennan Companies by 3.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,263 shares of the financial services provider's stock valued at $308,000 after acquiring an additional 47 shares during the period. Finally, McAdam LLC lifted its position in Marsh & McLennan Companies by 1.2% during the 1st quarter. McAdam LLC now owns 3,948 shares of the financial services provider's stock valued at $963,000 after acquiring an additional 47 shares during the period. 87.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total value of $4,334,896.35. Following the completion of the sale, the chief executive officer directly owned 87,681 shares in the company, valued at $18,031,597.65. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MMC has been the subject of a number of recent research reports. Evercore ISI lowered their price target on shares of Marsh & McLennan Companies from $243.00 to $237.00 and set an "outperform" rating for the company in a research report on Friday, October 17th. JPMorgan Chase & Co. raised shares of Marsh & McLennan Companies from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $248.00 to $242.00 in a research report on Thursday, October 9th. Wolfe Research initiated coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, September 16th. They set a "peer perform" rating for the company. Keefe, Bruyette & Woods raised shares of Marsh & McLennan Companies from an "underperform" rating to a "market perform" rating and lowered their price target for the company from $209.00 to $191.00 in a research report on Friday, October 17th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Marsh & McLennan Companies in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $234.07.

Marsh & McLennan Companies Stock Down 0.5%

NYSE:MMC opened at $188.99 on Wednesday. The firm has a 50-day simple moving average of $202.36 and a two-hundred day simple moving average of $213.34. Marsh & McLennan Companies, Inc. has a fifty-two week low of $185.12 and a fifty-two week high of $248.00. The firm has a market cap of $92.59 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.39 and a beta of 0.81. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.07. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.34 billion. During the same period in the previous year, the business posted $1.63 earnings per share. The business's revenue for the quarter was up 11.5% on a year-over-year basis. Analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd will be paid a $0.90 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.9%. Marsh & McLennan Companies's payout ratio is currently 43.17%.

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.

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