Fmr LLC Acquires 518,185 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Fmr LLC grew its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.5% in the third quarter, Holdings Channel reports. The fund owned 21,445,110 shares of the financial services provider’s stock after acquiring an additional 518,185 shares during the quarter. Fmr LLC’s holdings in Marsh & McLennan Companies were worth $4,784,190,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in Marsh & McLennan Companies by 4,991.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider’s stock valued at $146,047,000 after acquiring an additional 679,474 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Marsh & McLennan Companies by 127.9% in the third quarter. The Manufacturers Life Insurance Company now owns 899,716 shares of the financial services provider’s stock valued at $200,718,000 after purchasing an additional 504,897 shares during the period. International Assets Investment Management LLC boosted its holdings in Marsh & McLennan Companies by 31,846.5% in the 3rd quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider’s stock worth $95,430,000 after buying an additional 426,425 shares during the period. Truist Financial Corp lifted its position in shares of Marsh & McLennan Companies by 93.9% during the second quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock worth $160,563,000 after acquiring an additional 368,970 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Marsh & McLennan Companies by 219.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 529,239 shares of the financial services provider’s stock valued at $118,068,000 after buying an additional 363,569 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

MMC opened at $230.71 on Tuesday. The firm has a market cap of $113.31 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 3.39 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 1 year low of $184.28 and a 1 year high of $232.32. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $223.66 and its 200 day simple moving average is $219.11.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.02. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.57 EPS. As a group, analysts predict that Marsh & McLennan Companies, Inc. will post 8.68 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were given a $0.815 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.41%. Marsh & McLennan Companies’s dividend payout ratio is currently 40.15%.

Insider Activity at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total value of $553,875.00. Following the completion of the transaction, the director now directly owns 48,549 shares of the company’s stock, valued at $10,756,030.95. This represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MMC has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Marsh & McLennan Companies from $236.00 to $246.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. The Goldman Sachs Group set a $220.00 price objective on Marsh & McLennan Companies and gave the stock a “sell” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted their target price on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the company an “underperform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group increased their price target on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $227.60.

Marsh & McLennan Companies Profile

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.