BTS Asset Management Inc. Buys New Position in Marsh & McLennan Companies, Inc. $MMC

BTS Asset Management Inc. bought a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,164 shares of the financial services provider’s stock, valued at approximately $473,000. Marsh & McLennan Companies accounts for 0.6% of BTS Asset Management Inc.’s holdings, making the stock its 11th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. LPL Financial LLC grew its position in Marsh & McLennan Companies by 9.9% during the first quarter. LPL Financial LLC now owns 324,035 shares of the financial services provider’s stock valued at $78,662,000 after buying an additional 29,247 shares during the period. Penserra Capital Management LLC grew its position in Marsh & McLennan Companies by 101.4% during the first quarter. Penserra Capital Management LLC now owns 7,136 shares of the financial services provider’s stock valued at $1,741,000 after buying an additional 3,593 shares during the period. US Asset Management LLC grew its position in Marsh & McLennan Companies by 23.1% during the first quarter. US Asset Management LLC now owns 6,847 shares of the financial services provider’s stock valued at $1,671,000 after buying an additional 1,284 shares during the period. Geneva Partners LLC purchased a new position in Marsh & McLennan Companies during the first quarter valued at approximately $4,673,000. Finally, GAMMA Investing LLC lifted its holdings in Marsh & McLennan Companies by 32.0% during the first quarter. GAMMA Investing LLC now owns 6,211 shares of the financial services provider’s stock valued at $1,516,000 after purchasing an additional 1,507 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total value of $4,334,896.35. Following the sale, the chief executive officer owned 87,681 shares in the company, valued at approximately $18,031,597.65. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MMC shares. Evercore ISI lowered their price target on shares of Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. UBS Group lowered their price target on shares of Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $248.00 to $242.00 in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Marsh & McLennan Companies in a report on Wednesday, October 8th. Finally, Citigroup initiated coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They set a “neutral” rating and a $226.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $234.07.

Marsh & McLennan Companies Price Performance

MMC stock opened at $188.99 on Wednesday. Marsh & McLennan Companies, Inc. has a one year low of $185.12 and a one year high of $248.00. The company’s fifty day moving average price is $202.36 and its 200-day moving average price is $213.34. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $92.59 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.39 and a beta of 0.81.

Marsh & McLennan Companies (NYSE:MMC) last released 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 net margin of 15.60% and a return on equity of 31.79%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts anticipate 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 will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, October 2nd. Marsh & McLennan Companies’s payout ratio is currently 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.