Marsh & McLennan Companies, Inc. (NYSE:MMC) Holdings Raised by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lifted its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,637 shares of the financial services provider’s stock after purchasing an additional 878 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Marsh & McLennan Companies were worth $2,819,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its holdings in Marsh & McLennan Companies by 18.8% during the third quarter. Fortitude Family Office LLC now owns 285 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 45 shares during the period. Kingfisher Capital LLC grew its holdings in Marsh & McLennan Companies by 4.7% during the second quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 47 shares during the period. Drive Wealth Management LLC grew its holdings in Marsh & McLennan Companies by 3.7% during the second quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 49 shares during the period. Legacy Financial Advisors Inc. grew its holdings in Marsh & McLennan Companies by 2.3% during the second quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 49 shares during the period. Finally, Ritholtz Wealth Management grew its holdings in Marsh & McLennan Companies by 0.6% during the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock worth $1,887,000 after acquiring an additional 51 shares during the period. 87.99% of the stock is owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Performance

Shares of NYSE:MMC opened at $233.24 on Friday. The stock has a market capitalization of $114.55 billion, a P/E ratio of 28.72, a P/E/G ratio of 2.81 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 1-year low of $184.28 and a 1-year high of $235.21. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average price of $224.06 and a two-hundred day moving average price of $219.50.

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

Marsh & McLennan Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were paid 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 1.40%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 40.15%.

Insider Activity

In related news, Director Oscar Fanjul sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 in the company, valued at approximately $10,756,030.95. The trade was a 4.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Roth Mkm lifted their price target on Marsh & McLennan Companies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Royal Bank of Canada raised their price objective on Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. BMO Capital Markets raised their price objective on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group set a $220.00 price target on Marsh & McLennan Companies and gave the stock a “sell” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group lifted their target price 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. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Marsh & McLennan Companies currently has an average 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.