Mattern Capital Management LLC Buys 409 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Mattern Capital Management LLC increased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 26.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,951 shares of the financial services provider’s stock after purchasing an additional 409 shares during the quarter. Mattern Capital Management LLC’s holdings in Marsh & McLennan Companies were worth $411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Parnassus Investments LLC lifted its stake in shares of Marsh & McLennan Companies by 0.3% in the 4th 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 during the last quarter. Raymond James & Associates raised its position in Marsh & McLennan Companies by 2.6% in the second quarter. Raymond James & Associates now owns 925,411 shares of the financial services provider’s stock valued at $195,003,000 after purchasing an additional 23,133 shares during the last quarter. Veritas Investment Partners UK Ltd. grew its holdings in shares of 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 worth $266,134,000 after purchasing an additional 203,017 shares during the last quarter. Nordea Investment Management AB raised its holdings in 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 valued at $187,218,000 after buying an additional 100,378 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in Marsh & McLennan Companies during the 4th quarter worth approximately $3,465,000. Institutional investors own 87.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Roth Mkm lifted their target price on Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Barclays initiated coverage on Marsh & McLennan Companies in a research note on Wednesday. They issued an “equal weight” rating and a $236.00 price target for the company. Royal Bank of Canada upped their target price on Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Finally, Bank of America raised their price target on shares of Marsh & McLennan Companies from $223.00 to $233.00 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $215.53.

Marsh & McLennan Companies Stock Performance

Shares of Marsh & McLennan Companies stock opened at $231.37 on Thursday. The business has a 50-day simple moving average of $219.69 and a 200 day simple moving average of $210.19. The firm has a market capitalization of $114.00 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 3.17 and a beta of 0.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.17 and a quick ratio of 1.17. Marsh & McLennan Companies, Inc. has a one year low of $184.02 and a one year high of $231.91.

Marsh & McLennan Companies (NYSE:MMC) last issued its earnings results on Thursday, July 18th. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.01. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same period last year, the business earned $2.20 EPS. Marsh & McLennan Companies’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, research analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.74 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a dividend of $0.815 per share. The ex-dividend date was Thursday, July 25th. This represents a $3.26 dividend on an annualized basis and a yield of 1.41%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. Marsh & McLennan Companies’s payout ratio is 41.37%.

Insiders Place Their Bets

In related news, SVP Paul Beswick sold 2,169 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $477,180.00. Following the transaction, the senior vice president now owns 11,861 shares of the company’s stock, valued at $2,609,420. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Paul Beswick sold 2,169 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $477,180.00. Following the completion of the sale, the senior vice president now owns 11,861 shares in the company, valued at $2,609,420. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark C. Mcgivney sold 10,265 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the transaction, the chief financial officer now owns 33,678 shares in the company, valued at $7,625,035.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,735 shares of company stock valued at $6,151,377. Corporate insiders own 0.30% of the company’s stock.

About Marsh & McLennan Companies

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.