Kinsale Capital Group Inc. Boosts Holdings in Marsh & McLennan Companies, Inc. $MMC

Kinsale Capital Group Inc. grew its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 10.6% in the 2nd quarter, Holdings Channel reports. The fund owned 39,751 shares of the financial services provider’s stock after acquiring an additional 3,803 shares during the period. Marsh & McLennan Companies accounts for about 1.8% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 24th biggest position. Kinsale Capital Group Inc.’s holdings in Marsh & McLennan Companies were worth $8,691,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Accent Capital Management LLC acquired a new position in shares of Marsh & McLennan Companies in the 1st quarter worth approximately $25,000. Knuff & Co LLC bought a new stake in Marsh & McLennan Companies during the first quarter worth approximately $28,000. Activest Wealth Management grew its position in Marsh & McLennan Companies by 2,775.0% in the first quarter. Activest Wealth Management now owns 115 shares of the financial services provider’s stock worth $28,000 after buying an additional 111 shares during the last quarter. Westside Investment Management Inc. lifted its position in shares of Marsh & McLennan Companies by 363.3% during the 2nd quarter. Westside Investment Management Inc. now owns 139 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 109 shares during the last quarter. Finally, Capital Analysts LLC boosted its stake in shares of Marsh & McLennan Companies by 61.0% during the 1st quarter. Capital Analysts LLC now owns 169 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of NYSE MMC opened at $180.14 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12. Marsh & McLennan Companies, Inc. has a 1 year low of $174.18 and a 1 year high of $248.00. The firm has a fifty day moving average price of $195.49 and a 200-day moving average price of $209.35. The stock has a market cap of $88.25 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 2.25 and a beta of 0.78.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results 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 net margin of 15.60% and a return on equity of 31.79%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. Marsh & McLennan Companies’s quarterly revenue was up 11.5% on a year-over-year basis. Equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Thursday, October 2nd will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, October 2nd. Marsh & McLennan Companies’s payout ratio is 43.17%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MMC. Wells Fargo & Company lowered their target price on Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating on the stock in a report on Friday, October 17th. JPMorgan Chase & Co. raised Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and cut their price target for the company from $248.00 to $242.00 in a report on Thursday, October 9th. Barclays reduced their target price on Marsh & McLennan Companies from $233.00 to $221.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Cantor Fitzgerald initiated coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set an “overweight” rating and a $256.00 target price on the stock. Finally, Evercore ISI dropped their price target on shares of Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $228.63.

Insider Activity

In related news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the completion of the sale, the chief executive officer owned 87,681 shares of the company’s stock, valued at $18,031,597.65. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

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.