Ritholtz Wealth Management Has $2.06 Million Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

by · The Markets Daily

Ritholtz Wealth Management raised its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,254 shares of the financial services provider’s stock after buying an additional 301 shares during the period. Ritholtz Wealth Management’s holdings in Marsh & McLennan Companies were worth $2,064,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Indiana Trust & Investment Management CO bought a new position in shares of Marsh & McLennan Companies during the 1st quarter valued at $25,000. Headlands Technologies LLC bought a new position in shares of Marsh & McLennan Companies during the 1st quarter valued at $27,000. Crewe Advisors LLC raised its holdings in Marsh & McLennan Companies by 100.0% in the 2nd quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 80 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new position in Marsh & McLennan Companies in the 1st quarter worth $35,000. Finally, Iron Horse Wealth Management LLC raised its holdings in Marsh & McLennan Companies by 712.5% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 195 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 171 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Roth Mkm lifted their target price on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised 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 report on Thursday, July 11th. Jefferies Financial Group raised their price target on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised their price target on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Finally, Bank of America raised their price target on shares of Marsh & McLennan Companies from $248.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $216.69.

Check Out Our Latest Report on Marsh & McLennan Companies

Insider Buying and Selling

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 transaction, the senior vice president now directly owns 11,861 shares of the company’s stock, valued at $2,609,420. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mark C. Mcgivney sold 5,200 shares of Marsh & McLennan Companies stock in a transaction on Monday, August 5th. The shares were sold at an average price of $225.03, for a total value of $1,170,156.00. Following the completion of the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at approximately $7,578,560.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Paul Beswick sold 2,169 shares of Marsh & McLennan Companies stock in a transaction 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 directly owns 11,861 shares in the company, valued at $2,609,420. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,735 shares of company stock worth $4,897,317. 0.30% of the stock is owned by insiders.

Marsh & McLennan Companies Price Performance

NYSE:MMC opened at $225.05 on Monday. The firm has a market cap of $110.89 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 3.58 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 12 month low of $184.02 and a 12 month high of $232.32. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.91. The company’s 50-day moving average price is $224.44 and its two-hundred day moving average price is $214.29.

Marsh & McLennan Companies (NYSE:MMC – Get Free Report) last announced its earnings results on Thursday, July 18th. The financial services provider reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.01. The company had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.31 billion. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 earnings per share. On average, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.73 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 4th will be issued a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, October 4th. Marsh & McLennan Companies’s payout ratio is 41.37%.

Marsh & McLennan Companies Company Profile

(Free Report)

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.

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