Elmwood Wealth Management Inc. Has $1.36 Million Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

by · The Markets Daily

Elmwood Wealth Management Inc. reduced its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,112 shares of the financial services provider’s stock after selling 149 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in Marsh & McLennan Companies were worth $1,364,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Empirical Asset Management LLC boosted its stake in Marsh & McLennan Companies by 0.5% in the third quarter. Empirical Asset Management LLC now owns 17,808 shares of the financial services provider’s stock valued at $3,973,000 after acquiring an additional 88 shares during the last quarter. Sunflower Bank N.A. boosted its position in shares of Marsh & McLennan Companies by 16.8% in the 3rd quarter. Sunflower Bank N.A. now owns 1,135 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 163 shares during the last quarter. Compagnie Lombard Odier SCmA grew its stake in shares of Marsh & McLennan Companies by 3.2% during the third quarter. Compagnie Lombard Odier SCmA now owns 70,788 shares of the financial services provider’s stock worth $15,792,000 after purchasing an additional 2,204 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in Marsh & McLennan Companies in the third quarter valued at about $221,000. Finally, Exchange Traded Concepts LLC lifted its stake in Marsh & McLennan Companies by 98.7% in the third quarter. Exchange Traded Concepts LLC now owns 14,716 shares of the financial services provider’s stock valued at $3,283,000 after buying an additional 7,308 shares during the period. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Performance

MMC stock traded up $1.79 during trading hours on Monday, reaching $226.84. The stock had a trading volume of 199,795 shares, compared to its average volume of 1,658,658. The stock has a market capitalization of $111.77 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 3.58 and a beta of 0.94. The stock has a 50-day simple moving average of $224.44 and a 200 day simple moving average of $214.29. Marsh & McLennan Companies, Inc. has a fifty-two week low of $184.02 and a fifty-two week high of $232.32. 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 (NYSE:MMC – Get Free Report) last announced its quarterly 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 firm had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.31 billion. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share. Analysts predict that Marsh & McLennan Companies, Inc. will post 8.73 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio is presently 41.37%.

Insider Transactions at Marsh & McLennan Companies

In related news, SVP Paul Beswick sold 2,169 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was 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 directly owns 11,861 shares in the company, valued at $2,609,420. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Mark C. Mcgivney sold 10,265 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $226.41, for a total value 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 approximately $7,625,035.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Paul Beswick sold 2,169 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $477,180.00. Following the transaction, the senior vice president now owns 11,861 shares in the company, valued at approximately $2,609,420. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,735 shares of company stock worth $4,897,317. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

MMC has been the subject of a number of recent analyst reports. Bank of America upped their price target on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays assumed coverage on shares of Marsh & McLennan Companies in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Royal Bank of Canada raised their price objective on 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. Finally, Wells Fargo & Company decreased their target price on Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a research note on Thursday. Two investment 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. According to data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and an average target price of $216.69.

Read Our Latest Analysis on Marsh & McLennan Companies

About Marsh & McLennan Companies

(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.

Further Reading

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