Thrive Wealth Management LLC Has $704,000 Position in Marsh & McLennan Companies, Inc. $MMC

Thrive Wealth Management LLC reduced its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 6.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,219 shares of the financial services provider’s stock after selling 220 shares during the quarter. Thrive Wealth Management LLC’s holdings in Marsh & McLennan Companies were worth $704,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MMC. Balefire LLC bought a new position in shares of Marsh & McLennan Companies during the second quarter worth $391,000. Fiduciary Alliance LLC boosted its position in shares of Marsh & McLennan Companies by 36.0% during the second quarter. Fiduciary Alliance LLC now owns 1,262 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 334 shares in the last quarter. Czech National Bank boosted its position in shares of Marsh & McLennan Companies by 6.8% during the second quarter. Czech National Bank now owns 120,440 shares of the financial services provider’s stock worth $26,333,000 after purchasing an additional 7,635 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Marsh & McLennan Companies by 4.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 4,117 shares of the financial services provider’s stock worth $900,000 after purchasing an additional 190 shares in the last quarter. Finally, IAM Advisory LLC boosted its position in shares of Marsh & McLennan Companies by 4.5% during the second quarter. IAM Advisory LLC now owns 8,601 shares of the financial services provider’s stock worth $1,880,000 after purchasing an additional 372 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the completion of the sale, the chief executive officer owned 87,681 shares of the company’s stock, valued at approximately $18,031,597.65. The trade was a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MMC shares. Keefe, Bruyette & Woods reduced their price target on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating on the stock in a research report on Monday, July 21st. Morgan Stanley cut their price objective on shares of Marsh & McLennan Companies from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Cantor Fitzgerald assumed coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $256.00 price objective on the stock. Wolfe Research assumed coverage on shares of Marsh & McLennan Companies in a research report on Tuesday. They issued a “peer perform” rating on the stock. Finally, Citigroup assumed coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $226.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $238.76.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $196.82 on Wednesday. The company has a market capitalization of $96.76 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.49 and a beta of 0.81. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.20 and a current ratio of 1.20. The company has a 50-day simple moving average of $206.22 and a 200 day simple moving average of $219.81. Marsh & McLennan Companies, Inc. has a 52 week low of $196.17 and a 52 week high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, July 17th. The financial services provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.66 by $0.06. The business had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.92 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. Marsh & McLennan Companies’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 EPS. On average, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 24th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, July 24th. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.82. Marsh & McLennan Companies’s payout ratio is presently 43.17%.

Marsh & McLennan Companies Company Profile

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.