Perigon Wealth Management LLC Boosts Position in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Perigon Wealth Management LLC increased its holdings in Marsh & McLennan Companies, Inc. by 41.9% during the 2nd quarter, now owning 15,337 shares valued at approximately $3.35 million.
• CEO John Q. Doyle sold 21,079 shares, representing a 19.38% decrease in his position, after the stock transaction on September 2nd.
• The company has declared a quarterly dividend of $0.90 per share, with an ex-dividend date of October 2nd, reflecting an annualized yield of 1.8%.

Perigon Wealth Management LLC lifted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 41.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,337 shares of the financial services provider's stock after purchasing an additional 4,529 shares during the quarter. Perigon Wealth Management LLC's holdings in Marsh & McLennan Companies were worth $3,353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. McAdam LLC boosted its holdings in Marsh & McLennan Companies by 113.4% in the second quarter. McAdam LLC now owns 8,424 shares of the financial services provider's stock worth $1,842,000 after acquiring an additional 4,476 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Marsh & McLennan Companies by 53.5% in the second quarter. Public Employees Retirement System of Ohio now owns 332,959 shares of the financial services provider's stock worth $72,798,000 after purchasing an additional 116,045 shares during the last quarter. Financial Management Professionals Inc. raised its stake in shares of Marsh & McLennan Companies by 663.9% in the second quarter. Financial Management Professionals Inc. now owns 1,841 shares of the financial services provider's stock worth $403,000 after purchasing an additional 1,600 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of Marsh & McLennan Companies by 3.3% in the second quarter. Ballentine Partners LLC now owns 9,855 shares of the financial services provider's stock worth $2,155,000 after purchasing an additional 316 shares during the last quarter. Finally, Norden Group LLC lifted its holdings in Marsh & McLennan Companies by 5.5% in the second quarter. Norden Group LLC now owns 971 shares of the financial services provider's stock valued at $212,000 after acquiring an additional 51 shares during the period. 87.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO John Q. Doyle sold 21,079 shares of the business's 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Trading Up 0.8%

MMC opened at $199.60 on Friday. Marsh & McLennan Companies, Inc. has a 52 week low of $195.01 and a 52 week high of $248.00. The stock's fifty day moving average is $203.86 and its two-hundred day moving average is $217.79. The company has a market capitalization of $98.13 billion, a P/E ratio of 23.93, a PEG ratio of 2.49 and a beta of 0.81. 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 announced its quarterly earnings results 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. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%.The business had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period last year, the business posted $2.41 EPS. The business's revenue was up 12.1% compared to the same quarter last year. Analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Announces Dividend

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 issued 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 1.8%. Marsh & McLennan Companies's dividend payout ratio (DPR) is currently 43.17%.

Analysts Set New Price Targets

MMC has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Citigroup began coverage on Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set a "neutral" rating and a $226.00 target price for the company. Keefe, Bruyette & Woods cut their target price on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a research report on Monday, July 21st. Barclays cut their target price on 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, Wells Fargo & Company cut their target price on 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. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Marsh & McLennan Companies has a consensus rating of "Hold" and an average target price of $238.76.

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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