Cyndeo Wealth Partners LLC lifted its position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 16.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,615 shares of the financial services provider's stock after buying an additional 2,566 shares during the period. Cyndeo Wealth Partners LLC's holdings in Marsh & McLennan Companies were worth $4,070,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Accent Capital Management LLC acquired a new stake in shares of Marsh & McLennan Companies during the first quarter worth $25,000. Knuff & Co LLC acquired a new stake in shares of Marsh & McLennan Companies during the first quarter worth $28,000. Activest Wealth Management raised its position in shares of Marsh & McLennan Companies by 2,775.0% during the first quarter. Activest Wealth Management now owns 115 shares of the financial services provider's stock worth $28,000 after purchasing an additional 111 shares during the period. Capital Analysts LLC raised its position in shares of Marsh & McLennan Companies by 61.0% during the first quarter. Capital Analysts LLC now owns 169 shares of the financial services provider's stock worth $41,000 after purchasing an additional 64 shares during the period. Finally, Garde Capital Inc. acquired a new stake in shares of Marsh & McLennan Companies during the first quarter worth $42,000. 87.99% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Marsh & McLennan Companies
In related news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the completion of the sale, the chief executive officer owned 87,681 shares of the company's stock, valued at approximately $18,031,597.65. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on MMC shares. Cantor Fitzgerald began coverage on Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set an "overweight" rating and a $256.00 target price on the stock. Citigroup began coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They set a "neutral" rating and a $226.00 price target on the stock. Morgan Stanley lowered their price target on Marsh & McLennan Companies from $220.00 to $215.00 and set an "equal weight" rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods lowered their price target on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a report on Monday, July 21st. Finally, Wolfe Research began coverage on Marsh & McLennan Companies in a report on Tuesday, September 16th. They set a "peer perform" rating on the stock. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $237.13.
Read Our Latest Stock Report on Marsh & McLennan Companies
Marsh & McLennan Companies Price Performance
MMC opened at $205.97 on Friday. The stock has a market cap of $101.26 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.57 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a 1 year low of $195.01 and a 1 year high of $248.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. The stock has a fifty day moving average price of $203.11 and a 200 day moving average price of $215.93.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.66 by $0.06. The firm had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.92 billion. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%.The business's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.41 earnings per share. Analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.
Marsh & McLennan Companies Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 1.7%. Marsh & McLennan Companies's dividend payout ratio (DPR) is presently 43.17%.
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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