Novem Group Purchases New Holdings in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Novem Group acquired a new stake in Marsh & McLennan Companies, Inc., purchasing 3,765 shares valued at approximately $823,000.
• The financial services provider reported $2.72 EPS for the quarter, surpassing estimates and achieving a revenue increase of 12.1% year over year.
• Marsh & McLennan announced a $0.90 quarterly dividend, translating to an annual yield of 1.8%, payable on November 14th.

Novem Group purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,765 shares of the financial services provider's stock, valued at approximately $823,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Harbour Investments Inc. increased its holdings in shares of Marsh & McLennan Companies by 3.6% in the first quarter. Harbour Investments Inc. now owns 1,253 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 44 shares in the last quarter. Defined Wealth Management LLC grew its holdings in Marsh & McLennan Companies by 1.5% during the 1st quarter. Defined Wealth Management LLC now owns 3,198 shares of the financial services provider's stock worth $780,000 after acquiring an additional 47 shares during the period. IFP Advisors Inc grew its holdings in Marsh & McLennan Companies by 0.6% during the 1st quarter. IFP Advisors Inc now owns 7,479 shares of the financial services provider's stock worth $1,825,000 after acquiring an additional 47 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its holdings in Marsh & McLennan Companies by 1.1% during 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 acquiring an additional 47 shares during the period. Finally, E Fund Management Co. Ltd. grew its holdings 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 worth $308,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 87.99% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on MMC. Keefe, Bruyette & Woods lowered their target price on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a report on Monday, July 21st. Citigroup began coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They set a "neutral" rating and a $226.00 target price for the company. Wolfe Research assumed coverage on shares of Marsh & McLennan Companies in a report on Tuesday, September 16th. They set a "peer perform" rating for the company. UBS Group reduced their price target on shares of Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Finally, Cantor Fitzgerald assumed coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set an "overweight" rating and a $256.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has an average rating of "Hold" and an average price target of $238.76.

Insider Buying and Selling

In related news, CEO John Q. Doyle sold 21,079 shares of the business's stock in a transaction 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 sale, the chief executive officer directly owned 87,681 shares of the company's stock, valued at approximately $18,031,597.65. The trade was a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Marsh & McLennan Companies Trading Up 0.8%

Shares of NYSE MMC opened at $199.60 on Friday. The company's fifty day moving average is $203.86 and its 200-day moving average is $217.79. The stock has a market cap of $98.13 billion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 2.49 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a twelve month low of $195.01 and a twelve month high of $248.00. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.66 by $0.06. The business had revenue of $6.97 billion for the quarter, compared to analysts' expectations of $6.92 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The firm's revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.41 EPS. Equities research analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The business 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 $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 2nd. Marsh & McLennan Companies's payout ratio is currently 43.17%.

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.

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