Turtle Creek Wealth Advisors LLC Takes Position in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Turtle Creek Wealth Advisors LLC acquired 2,089 shares of Marsh & McLennan Companies, Inc. ($MMC) in the second quarter, valued at approximately $457,000.
• Marsh & McLennan recently reported $1.85 EPS for the quarter, surpassing expectations, with a revenue of $6.35 billion, representing an 11.5% year-over-year increase.
• The company announced a quarterly dividend of $0.90 per share, translating to an annualized dividend yield of 1.9%.

Turtle Creek Wealth Advisors LLC bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,089 shares of the financial services provider's stock, valued at approximately $457,000.

Several other hedge funds also recently bought and sold shares of MMC. Brighton Jones LLC boosted its holdings 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 worth $1,856,000 after buying an additional 2,960 shares during the period. Bison Wealth LLC boosted its holdings 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 worth $651,000 after buying an additional 869 shares during the period. GAMMA Investing LLC boosted its holdings in Marsh & McLennan Companies by 32.0% in the 1st quarter. GAMMA Investing LLC now owns 6,211 shares of the financial services provider's stock worth $1,516,000 after buying an additional 1,507 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Marsh & McLennan Companies by 101.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 103,551 shares of the financial services provider's stock worth $25,270,000 after buying an additional 52,218 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its holdings in Marsh & McLennan Companies by 5.9% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,857 shares of the financial services provider's stock worth $453,000 after buying an additional 104 shares during the period. Institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Stock Down 8.3%

Shares of NYSE MMC opened at $186.86 on Friday. The firm's 50-day moving average price is $203.22 and its 200-day moving average price is $214.58. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $91.86 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 2.57 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a 12-month low of $185.12 and a 12-month high of $248.00.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.07. The firm had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.34 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The business's revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 EPS. On average, equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The firm 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 dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, October 2nd. Marsh & McLennan Companies's dividend payout ratio is currently 43.17%.

Insider Activity

In related 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 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 $18,031,597.65. This represents a 19.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

MMC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods dropped 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. Wolfe Research assumed coverage on shares of Marsh & McLennan Companies in a research note on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Cantor Fitzgerald assumed coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 price target on the stock. Citigroup assumed coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price target on the stock. Finally, Morgan Stanley decreased their price target on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $237.13.

Marsh & McLennan Companies 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.

Want to see what other hedge funds are holding MMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.