The Manufacturers Life Insurance Company Purchases 593,353 Shares of Marsh & McLennan Companies, Inc. $MMC

The Manufacturers Life Insurance Company boosted its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 79.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,341,359 shares of the financial services provider’s stock after acquiring an additional 593,353 shares during the quarter. The Manufacturers Life Insurance Company owned 0.27% of Marsh & McLennan Companies worth $293,275,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its position in shares of Marsh & McLennan Companies by 51.2% during the 4th quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider’s stock worth $1,856,000 after buying an additional 2,960 shares in the last quarter. Bison Wealth LLC grew its holdings in Marsh & McLennan Companies by 39.6% during the 4th quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider’s stock worth $651,000 after acquiring an additional 869 shares in the last quarter. SouthState Corp increased its position in Marsh & McLennan Companies by 152.9% during the 1st quarter. SouthState Corp now owns 559 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 338 shares during the period. Independent Advisor Alliance raised its holdings in shares of Marsh & McLennan Companies by 5.3% in the 1st quarter. Independent Advisor Alliance now owns 4,881 shares of the financial services provider’s stock valued at $1,191,000 after purchasing an additional 246 shares in the last quarter. Finally, Stone House Investment Management LLC purchased a new stake in shares of Marsh & McLennan Companies in the 1st quarter worth approximately $64,000. 87.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the completion of the sale, the chief executive officer owned 87,681 shares of the company’s stock, valued at $15,977,231.82. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

Marsh & McLennan Companies Stock Down 0.2%

NYSE:MMC opened at $180.88 on Thursday. The company’s 50 day moving average is $186.72 and its two-hundred day moving average is $202.15. The company has a market cap of $88.62 billion, a PE ratio of 21.69, a P/E/G ratio of 3.11 and a beta of 0.75. Marsh & McLennan Companies, Inc. has a twelve month low of $174.18 and a twelve month 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 posted its quarterly earnings data 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 net margin of 15.60% and a return on equity of 31.79%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd were issued a $0.90 dividend. The ex-dividend date of this dividend was 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 is currently 43.17%.

Analysts Set New Price Targets

Several brokerages have issued reports on MMC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marsh & McLennan Companies in a research report on Friday, October 31st. Cantor Fitzgerald started coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $256.00 target price on the stock. TD Cowen decreased their price target on shares of Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a research report on Monday, November 3rd. JPMorgan Chase & Co. raised shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $248.00 to $242.00 in a research report on Thursday, October 9th. Finally, Morgan Stanley decreased their target price on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Marsh & McLennan Companies presently has a consensus rating of “Hold” and an average price target of $223.00.

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.