My Legacy Advisors LLC Takes Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

My Legacy Advisors LLC acquired a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,659 shares of the financial services provider’s stock, valued at approximately $560,000.

Other institutional investors also recently bought and sold shares of the company. Parnassus Investments LLC grew its stake in Marsh & McLennan Companies by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 4,259,567 shares of the financial services provider’s stock valued at $807,060,000 after acquiring an additional 11,459 shares in the last quarter. Raymond James & Associates grew its stake in Marsh & McLennan Companies by 2.6% during the second quarter. Raymond James & Associates now owns 925,411 shares of the financial services provider’s stock valued at $195,003,000 after acquiring an additional 23,133 shares in the last quarter. Veritas Investment Partners UK Ltd. grew its stake in Marsh & McLennan Companies by 16.9% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,404,598 shares of the financial services provider’s stock valued at $266,134,000 after acquiring an additional 203,017 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Marsh & McLennan Companies by 12.4% in the 1st quarter. Nordea Investment Management AB now owns 906,976 shares of the financial services provider’s stock worth $187,218,000 after buying an additional 100,378 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter worth $3,465,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Stock Down 1.6 %

Shares of NYSE:MMC traded down $3.61 during trading hours on Friday, hitting $221.86. The company’s stock had a trading volume of 296,791 shares, compared to its average volume of 1,668,096. Marsh & McLennan Companies, Inc. has a 52 week low of $184.02 and a 52 week high of $227.63. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $109.32 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 3.20 and a beta of 0.94. The firm’s fifty day moving average price is $217.12 and its 200 day moving average price is $208.22.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.40 by $0.01. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. The business had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.31 billion. During the same quarter in the previous year, the business posted $2.20 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, research analysts expect that Marsh & McLennan Companies, Inc. will post 8.73 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were given a $0.815 dividend. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.47%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. Marsh & McLennan Companies’s payout ratio is presently 41.37%.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 10,265 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at approximately $7,625,035.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Marsh & McLennan Companies news, VP Stacy Mills sold 4,101 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $225.77, for a total transaction of $925,882.77. Following the sale, the vice president now owns 2,923 shares of the company’s stock, valued at approximately $659,925.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark C. Mcgivney sold 10,265 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares in the company, valued at $7,625,035.98. The disclosure for this sale can be found here. Insiders have sold a total of 27,735 shares of company stock valued at $6,151,377 in the last 90 days. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MMC shares. Roth Mkm lifted their price objective on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Royal Bank of Canada lifted their price objective on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. lifted their price target on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, Bank of America lifted their price target on shares of Marsh & McLennan Companies from $223.00 to $233.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $214.25.

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.