Assetmark Inc. Buys 26,360 Shares of Marsh & McLennan Companies, Inc. $MMC

Assetmark Inc. boosted its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 684,512 shares of the financial services provider’s stock after purchasing an additional 26,360 shares during the quarter. Assetmark Inc. owned about 0.14% of Marsh & McLennan Companies worth $149,662,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Harbour Investments Inc. boosted its position in shares of Marsh & McLennan Companies by 3.6% in the first quarter. Harbour Investments Inc. now owns 1,253 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 44 shares during the period. IFP Advisors Inc boosted its position in shares of Marsh & McLennan Companies by 0.6% in the first quarter. IFP Advisors Inc now owns 7,479 shares of the financial services provider’s stock valued at $1,825,000 after acquiring an additional 47 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Marsh & McLennan Companies by 1.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,517 shares of the financial services provider’s stock valued at $1,102,000 after acquiring an additional 47 shares during the period. E Fund Management Co. Ltd. boosted its position in shares of Marsh & McLennan Companies by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 1,263 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 47 shares during the period. Finally, McAdam LLC boosted its position in shares of Marsh & McLennan Companies by 1.2% in the first quarter. McAdam LLC now owns 3,948 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 47 shares during the period. 87.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MMC shares. Wolfe Research started coverage on Marsh & McLennan Companies in a research report on Tuesday, September 16th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. raised Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $248.00 to $242.00 in a research report on Thursday, October 9th. UBS Group cut their target price on Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. The Goldman Sachs Group upgraded Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and cut their target price for the company from $200.00 to $195.00 in a research note on Monday, October 20th. Finally, Keefe, Bruyette & Woods upgraded Marsh & McLennan Companies from an “underperform” rating to a “market perform” rating and cut their target price for the company from $209.00 to $191.00 in a research note on Friday, October 17th. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $234.07.

Insider Activity

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the completion of the transaction, the chief executive officer directly owned 87,681 shares of the company’s stock, valued at approximately $18,031,597.65. This trade represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of NYSE MMC opened at $179.93 on Thursday. The firm has a market capitalization of $88.15 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.29 and a beta of 0.81. The business has a fifty day simple moving average of $199.58 and a 200 day simple moving average of $211.55. Marsh & McLennan Companies, Inc. has a one year low of $179.26 and a one year high of $248.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. Marsh & McLennan Companies had a return on equity of 31.79% and a net margin of 15.60%.The business’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the business earned $1.63 earnings per share. Sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio (DPR) 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.