IHT Wealth Management LLC acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,141 shares of the financial services provider’s stock, valued at approximately $214,000.
Several other large investors have also made changes to their positions in MMC. National Pension Service raised its holdings in shares of Marsh & McLennan Companies by 5.0% in the third quarter. National Pension Service now owns 616,816 shares of the financial services provider’s stock worth $61,712,000 after buying an additional 29,196 shares during the period. Baker Avenue Asset Management LP grew its position in Marsh & McLennan Companies by 458.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 22,744 shares of the financial services provider’s stock valued at $2,275,000 after acquiring an additional 18,669 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Marsh & McLennan Companies by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 316,942 shares of the financial services provider’s stock valued at $31,710,000 after acquiring an additional 1,292 shares during the last quarter. Penserra Capital Management LLC increased its stake in Marsh & McLennan Companies by 8.2% in the third quarter. Penserra Capital Management LLC now owns 14,280 shares of the financial services provider’s stock worth $1,427,000 after purchasing an additional 1,080 shares during the period. Finally, Thor Advisors LLC purchased a new stake in Marsh & McLennan Companies in the third quarter worth $52,000. Institutional investors and hedge funds own 87.30% of the company’s stock.
In related news, SVP Laurie Ledford sold 4,305 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $108.18, for a total value of $465,714.90. 1.16% of the stock is owned by corporate insiders.
Marsh & McLennan Companies (NYSE:MMC) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.07. Marsh & McLennan Companies had a return on equity of 29.40% and a net margin of 9.34%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period in the prior year, the business earned $0.78 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, research analysts expect that Marsh & McLennan Companies, Inc. will post 4.65 earnings per share for the current year.
Marsh & McLennan Companies declared that its board has approved a share repurchase plan on Thursday, November 21st that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 11th were issued a $0.455 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.82 annualized dividend and a dividend yield of 1.72%. Marsh & McLennan Companies’s payout ratio is currently 41.84%.
Several analysts have recently weighed in on MMC shares. Morgan Stanley lifted their target price on Marsh & McLennan Companies from $101.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Wells Fargo & Co restated a “hold” rating and issued a $95.00 price target on shares of Marsh & McLennan Companies in a report on Tuesday, October 29th. Finally, Raymond James raised shares of Marsh & McLennan Companies from an “underperform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Marsh & McLennan Companies has an average rating of “Hold” and a consensus target price of $100.90.
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 in two segments, Risk and Insurance Services, and Consulting. 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, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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