State of Alaska Department of Revenue Has $15.84 Million Stock Position in Marsh & McLennan Companies, Inc. $MMC

Key Points

• The State of Alaska Department of Revenue increased its stake in Marsh & McLennan Companies by 12.4%, now holding 72,460 shares valued at approximately $15.84 million.
• Marsh & McLennan Companies recently announced a quarterly dividend of $0.90, translating to an annualized yield of 1.8%.
• Equities research analysts have mixed ratings for the stock, with a consensus rating of "Hold" and a price target ranging from $226.00 to $256.00.

State of Alaska Department of Revenue grew its position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 12.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,460 shares of the financial services provider's stock after buying an additional 7,985 shares during the period. State of Alaska Department of Revenue's holdings in Marsh & McLennan Companies were worth $15,841,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MMC. Brighton Jones LLC lifted its position in Marsh & McLennan Companies by 51.2% in the 4th quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider's stock valued at $1,856,000 after acquiring an additional 2,960 shares in the last quarter. Bison Wealth LLC lifted its position in Marsh & McLennan Companies by 39.6% in the 4th quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider's stock valued at $651,000 after acquiring an additional 869 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Marsh & McLennan Companies by 5.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,333 shares of the financial services provider's stock valued at $10,904,000 after acquiring an additional 2,690 shares in the last quarter. 111 Capital bought a new stake in Marsh & McLennan Companies during the 4th quarter worth about $459,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Marsh & McLennan Companies by 3.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,927 shares of the financial services provider's stock worth $958,000 after buying an additional 125 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO John Q. Doyle sold 21,079 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 87,681 shares in the company, valued at approximately $18,031,597.65. This represents a 19.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays cut their price target on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Wolfe Research assumed coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, September 16th. They set a "peer perform" rating on the stock. 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. Citigroup assumed coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set a "neutral" rating and a $226.00 price target on the stock. Finally, Wells Fargo & Company cut their price target on shares of Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating on the stock in a research report on Friday, July 18th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $238.76.

Marsh & McLennan Companies Stock Up 0.8%

Shares of MMC stock opened at $199.60 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.20 and a current ratio of 1.20. The firm's 50-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 PEG ratio of 2.49 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a 52-week low of $195.01 and a 52-week high of $248.00.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last issued its 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 net margin of 16.00% and a return on equity of 31.90%. The company had revenue of $6.97 billion for the quarter, compared to analysts' expectations of $6.92 billion. During the same period in the prior year, the firm earned $2.41 EPS. Marsh & McLennan Companies's quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be paid a $0.90 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 1.8%. Marsh & McLennan Companies's dividend payout ratio is 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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