National Wealth Management Group LLC Takes Position in Marsh & McLennan Companies, Inc. $MMC

Key Points

• National Wealth Management Group LLC acquired a new stake in Marsh & McLennan Companies, investing approximately $558,000 for 2,285 shares in the first quarter of 2023.
• CEO John Q. Doyle recently sold 21,079 shares of the company's stock, amounting to a value of $4.33 million, resulting in a 19.38% decrease in his ownership.
• Marsh & McLennan Companies reported a 12.1% year-over-year revenue increase to $6.97 billion and earnings per share of $2.72, exceeding analysts' expectations in their latest quarterly results.

National Wealth Management Group LLC acquired a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,285 shares of the financial services provider's stock, valued at approximately $558,000.

Other institutional investors have also bought and sold shares of the company. Harbour Investments Inc. boosted its holdings in Marsh & McLennan Companies by 3.6% during the first quarter. Harbour Investments Inc. now owns 1,253 shares of the financial services provider's stock worth $306,000 after buying an additional 44 shares in the last quarter. Defined Wealth Management LLC lifted its holdings in Marsh & McLennan Companies by 1.5% during the first quarter. Defined Wealth Management LLC now owns 3,198 shares of the financial services provider's stock valued at $780,000 after purchasing an additional 47 shares in the last quarter. IFP Advisors Inc lifted its holdings in Marsh & McLennan Companies by 0.6% during the first quarter. IFP Advisors Inc now owns 7,479 shares of the financial services provider's stock valued at $1,825,000 after purchasing an additional 47 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Marsh & McLennan Companies by 1.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,517 shares of the financial services provider's stock valued at $1,102,000 after purchasing an additional 47 shares in the last quarter. Finally, E Fund Management Co. Ltd. lifted its holdings in Marsh & McLennan Companies by 3.9% during the first quarter. E Fund Management Co. Ltd. now owns 1,263 shares of the financial services provider's stock valued at $308,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Trading Down 1.7%

Marsh & McLennan Companies stock traded down $3.50 during midday trading on Wednesday, hitting $198.38. 928,250 shares of the stock were exchanged, compared to its average volume of 2,242,630. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.27 and a fifty-two week high of $248.00. The stock has a market capitalization of $97.53 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 2.56 and a beta of 0.81. The stock's 50-day simple moving average is $207.50 and its 200 day simple moving average is $221.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19.

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, topping the consensus estimate of $2.66 by $0.06. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The firm had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same period last year, the business earned $2.41 earnings per share. Marsh & McLennan Companies's revenue was up 12.1% compared to the same quarter last year. On average, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 24th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.8%. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Thursday, July 24th. Marsh & McLennan Companies's payout ratio is 43.17%.

Analyst Ratings Changes

MMC has been the topic of several recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They set an "overweight" rating and a $256.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. UBS Group reduced their target price on shares of Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating for the company in a research report on Monday, July 21st. Barclays reduced their target price on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Finally, Citigroup assumed coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 target price for the company. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of "Hold" and a consensus price target of $238.76.

Insiders Place Their Bets

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

About Marsh & McLennan Companies

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.