Mackenzie Financial Corp Increases Stock Position in Marsh & McLennan Companies, Inc. $MMC

Mackenzie Financial Corp lifted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 212.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,285,194 shares of the financial services provider’s stock after purchasing an additional 1,554,114 shares during the quarter. Mackenzie Financial Corp owned about 0.46% of Marsh & McLennan Companies worth $499,635,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Marsh & McLennan Companies by 1.8% in the second quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock worth $10,092,108,000 after acquiring an additional 837,117 shares in the last quarter. Wellington Management Group LLP boosted its position in Marsh & McLennan Companies by 54.2% during the 1st quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider’s stock worth $3,127,193,000 after purchasing an additional 4,505,548 shares during the period. Geode Capital Management LLC raised its position in Marsh & McLennan Companies by 1.6% in the second quarter. Geode Capital Management LLC now owns 12,684,210 shares of the financial services provider’s stock valued at $2,762,513,000 after purchasing an additional 196,475 shares during the period. Norges Bank acquired a new position in shares of Marsh & McLennan Companies during the second quarter worth about $1,328,587,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Marsh & McLennan Companies by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,345,211 shares of the financial services provider’s stock worth $1,060,362,000 after buying an additional 340,907 shares during the period. 87.99% of the stock is owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Up 0.4%

NYSE:MMC opened at $183.51 on Friday. The stock has a 50-day simple moving average of $189.42 and a 200 day simple moving average of $204.88. Marsh & McLennan Companies, Inc. has a one year low of $174.18 and a one year high of $248.00. The company has a market capitalization of $89.90 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 2.25 and a beta of 0.78. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12.

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

Marsh & McLennan Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Thursday, October 2nd. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 43.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MMC shares. Evercore ISI dropped their target price on Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Wells Fargo & Company dropped their price objective on shares of Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating on the stock in a research note on Friday, October 17th. The Goldman Sachs Group upgraded shares of Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and decreased their target price for the company from $200.00 to $195.00 in a research note on Monday, October 20th. JPMorgan Chase & Co. raised shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $248.00 to $242.00 in a research note on Thursday, October 9th. Finally, Wolfe Research began coverage on shares of Marsh & McLennan Companies in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $224.56.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of the 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 sale, the chief executive officer owned 87,681 shares in the company, valued at $18,031,597.65. This represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

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.