Truist Financial Corp lowered its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,245,964 shares of the financial services provider’s stock after selling 25,043 shares during the period. Truist Financial Corp owned 0.25% of Marsh & McLennan Companies worth $207,515,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. CoreCap Advisors LLC bought a new position in Marsh & McLennan Companies during the fourth quarter worth $25,000. Institutional & Family Asset Management LLC bought a new position in Marsh & McLennan Companies during the fourth quarter worth $27,000. Ridgewood Investments LLC bought a new position in Marsh & McLennan Companies during the first quarter worth $32,000. Tradewinds Capital Management LLC raised its stake in Marsh & McLennan Companies by 471.4% during the first quarter. Tradewinds Capital Management LLC now owns 200 shares of the financial services provider’s stock worth $33,000 after buying an additional 165 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its stake in Marsh & McLennan Companies by 94.2% during the first quarter. FNY Investment Advisers LLC now owns 233 shares of the financial services provider’s stock worth $38,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 86.33% of the company’s stock.
Marsh & McLennan Companies Stock Performance
NYSE:MMC traded up $1.07 during trading hours on Friday, reaching $192.11. The stock had a trading volume of 545,626 shares, compared to its average volume of 1,667,460. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day simple moving average of $183.54 and a 200 day simple moving average of $174.86. Marsh & McLennan Companies, Inc. has a 12-month low of $148.11 and a 12-month high of $194.16. The stock has a market cap of $94.89 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94.
Marsh & McLennan Companies (NYSE:MMC – Get Free Report) last released its earnings results on Thursday, July 20th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.08. The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.77 billion. Marsh & McLennan Companies had a return on equity of 33.69% and a net margin of 15.20%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the business posted $1.89 earnings per share. On average, research analysts forecast that Marsh & McLennan Companies, Inc. will post 7.71 EPS for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Thursday, July 27th will be paid a dividend of $0.71 per share. The ex-dividend date is Wednesday, July 26th. This represents a $2.84 annualized dividend and a yield of 1.48%. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.59. Marsh & McLennan Companies’s payout ratio is 43.36%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on MMC. Morgan Stanley lifted their price target on shares of Marsh & McLennan Companies from $202.00 to $205.00 and gave the company an “equal weight” rating in a research note on Friday, July 21st. Wells Fargo & Company lifted their price target on shares of Marsh & McLennan Companies from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Friday, July 21st. Raymond James boosted their target price on shares of Marsh & McLennan Companies from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. StockNews.com raised shares of Marsh & McLennan Companies from a “hold” rating to a “buy” rating in a research report on Friday, July 21st. Finally, BMO Capital Markets boosted their target price on shares of Marsh & McLennan Companies from $168.00 to $192.00 in a research report on Monday, May 15th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $193.23.
Read Our Latest Analysis on Marsh & McLennan Companies
Insiders Place Their Bets
In related news, CEO Dean Michael Klisura sold 12,976 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $192.20, for a total transaction of $2,493,987.20. Following the transaction, the chief executive officer now owns 20,935 shares in the company, valued at approximately $4,023,707. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 70,106 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $185.53, for a total transaction of $13,006,766.18. Following the completion of the transaction, the chief financial officer now owns 33,678 shares of the company’s stock, valued at $6,248,279.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dean Michael Klisura sold 12,976 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $192.20, for a total value of $2,493,987.20. Following the transaction, the chief executive officer now directly owns 20,935 shares of the company’s stock, valued at approximately $4,023,707. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.
About Marsh & McLennan Companies
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.
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