Quarry LP Boosts Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Quarry LP raised its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 223.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 498 shares of the financial services provider’s stock after acquiring an additional 344 shares during the period. Quarry LP’s holdings in Marsh & McLennan Companies were worth $111,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. grew its position in Marsh & McLennan Companies by 2.0% during the third quarter. Royal London Asset Management Ltd. now owns 210,347 shares of the financial services provider’s stock valued at $46,926,000 after acquiring an additional 4,164 shares during the period. Point72 Asset Management L.P. purchased a new stake in Marsh & McLennan Companies during the third quarter valued at about $23,507,000. Mission Creek Capital Partners Inc. purchased a new stake in shares of Marsh & McLennan Companies in the third quarter worth about $320,000. Morse Asset Management Inc purchased a new stake in shares of Marsh & McLennan Companies in the third quarter worth about $75,000. Finally, IHT Wealth Management LLC boosted its position in shares of Marsh & McLennan Companies by 30.8% in the third quarter. IHT Wealth Management LLC now owns 3,460 shares of the financial services provider’s stock worth $772,000 after buying an additional 814 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Trading Down 1.4 %

Shares of NYSE MMC opened at $225.16 on Friday. The stock’s 50 day moving average price is $224.80 and its two-hundred day moving average price is $220.51. Marsh & McLennan Companies, Inc. has a 52-week low of $184.28 and a 52-week high of $235.50. The stock has a market capitalization of $110.58 billion, a P/E ratio of 27.73, a PEG ratio of 2.76 and a beta of 0.94. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.89.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the firm posted $1.57 earnings per share. Marsh & McLennan Companies’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.68 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were given a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, October 4th. Marsh & McLennan Companies’s payout ratio is 40.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MMC shares. Keefe, Bruyette & Woods upped their target price on Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Roth Mkm upped their target price on Marsh & McLennan Companies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company decreased their target price on Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. Jefferies Financial Group upped their target price on Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group set a $220.00 price target on Marsh & McLennan Companies and gave the company a “sell” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Marsh & McLennan Companies currently has an average rating of “Hold” and an average price target of $227.60.

Insider Transactions at Marsh & McLennan Companies

In other news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total transaction of $553,875.00. Following the sale, the director now directly owns 48,549 shares in the company, valued at approximately $10,756,030.95. This represents a 4.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.