Westpac Banking Corp Increases Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Westpac Banking Corp grew its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 9.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,377 shares of the financial services provider’s stock after purchasing an additional 373 shares during the period. Westpac Banking Corp’s holdings in Marsh & McLennan Companies were worth $930,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Financial Life Planners purchased a new position in Marsh & McLennan Companies in the fourth quarter valued at $33,000. Sierra Ocean LLC purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter valued at about $36,000. Albion Financial Group UT purchased a new position in Marsh & McLennan Companies during the fourth quarter worth approximately $38,000. Golden State Wealth Management LLC acquired a new stake in Marsh & McLennan Companies in the fourth quarter valued at approximately $41,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at approximately $45,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MMC has been the topic of a number of research analyst reports. Redburn Atlantic started coverage on shares of Marsh & McLennan Companies in a research note on Tuesday, March 25th. They issued a “buy” rating and a $281.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of Marsh & McLennan Companies from $212.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods decreased their price target on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada upgraded Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $242.00 to $250.00 in a research note on Thursday, December 12th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $250.00 price target (up from $240.00) on shares of Marsh & McLennan Companies in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus price target of $233.41.

Insider Activity at Marsh & McLennan Companies

In related news, VP Stacy Mills sold 1,317 shares of Marsh & McLennan Companies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $234.97, for a total value of $309,455.49. Following the completion of the sale, the vice president now owns 2,923 shares in the company, valued at approximately $686,817.31. This trade represents a 31.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dean Michael Klisura sold 7,121 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $234.97, for a total value of $1,673,221.37. Following the transaction, the chief executive officer now owns 20,935 shares of the company’s stock, valued at approximately $4,919,096.95. This represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,397 shares of company stock worth $15,694,684. Company insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Price Performance

Marsh & McLennan Companies stock opened at $229.94 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. The stock has a market cap of $112.93 billion, a P/E ratio of 28.08, a PEG ratio of 2.70 and a beta of 0.95. The company has a 50-day moving average price of $232.01 and a 200 day moving average price of $224.54. Marsh & McLennan Companies, Inc. has a 12-month low of $196.17 and a 12-month high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.75 by $0.12. Marsh & McLennan Companies had a net margin of 16.60% and a return on equity of 32.60%. Sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 3rd will be given a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, April 3rd. Marsh & McLennan Companies’s payout ratio is 39.80%.

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.