Princeton Global Asset Management LLC Acquires 2,883 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• Princeton Global Asset Management LLC increased its stake in Marsh & McLennan Companies, Inc. by 43.2% in the second quarter, acquiring 2,883 additional shares for a total of $2,088,000 in holdings.
• CEO John Q. Doyle sold 21,079 shares at an average price of $205.65, decreasing his ownership in the company by 19.38%.
• Several analysts have adjusted their price targets for Marsh & McLennan, with ratings ranging from "buy" to "equal weight", and the stock currently has a consensus rating of "Hold" with an average target price of $236.43.

Princeton Global Asset Management LLC boosted its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 43.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,551 shares of the financial services provider's stock after acquiring an additional 2,883 shares during the quarter. Princeton Global Asset Management LLC's holdings in Marsh & McLennan Companies were worth $2,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Marsh & McLennan Companies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,321,445 shares of the financial services provider's stock worth $11,059,792,000 after purchasing an additional 581,930 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Marsh & McLennan Companies by 54.2% in the 1st quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider's stock worth $3,127,193,000 after purchasing an additional 4,505,548 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Marsh & McLennan Companies by 8.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,345,211 shares of the financial services provider's stock worth $1,060,362,000 after purchasing an additional 340,907 shares in the last quarter. Nuveen LLC purchased a new position in shares of Marsh & McLennan Companies in the 1st quarter worth about $1,038,594,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Marsh & McLennan Companies by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,858,136 shares of the financial services provider's stock worth $697,471,000 after purchasing an additional 65,778 shares in the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total value 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 approximately $18,031,597.65. This represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MMC shares. Evercore ISI dropped their target price on Marsh & McLennan Companies from $243.00 to $237.00 and set an "outperform" rating for the company in a report on Friday. Wolfe Research started coverage on Marsh & McLennan Companies in a report on Tuesday, September 16th. They set a "peer perform" rating for the company. Barclays dropped their target price on Marsh & McLennan Companies from $233.00 to $221.00 and set an "equal weight" rating for the company in a report on Wednesday, October 8th. Morgan Stanley dropped their target price on Marsh & McLennan Companies from $220.00 to $215.00 and set an "equal weight" rating for the company in a report on Tuesday, October 7th. Finally, UBS Group dropped their target price on Marsh & McLennan Companies from $258.00 to $257.00 and set a "buy" rating for the company in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $236.43.

Marsh & McLennan Companies Trading Up 1.8%

NYSE MMC opened at $189.85 on Monday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $185.12 and a fifty-two week high of $248.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50 day simple moving average of $202.94 and a two-hundred day simple moving average of $213.79. The stock has a market cap of $93.01 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 2.39 and a beta of 0.81.

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

Marsh & McLennan Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 annualized dividend and a dividend yield of 1.9%. Marsh & McLennan Companies's dividend 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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