Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Purchased by Provence Wealth Management Group

Provence Wealth Management Group lifted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,809 shares of the financial services provider’s stock after buying an additional 225 shares during the quarter. Provence Wealth Management Group’s holdings in Marsh & McLennan Companies were worth $343,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Treasurer of the State of North Carolina lifted its holdings in shares of Marsh & McLennan Companies by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 223,867 shares of the financial services provider’s stock worth $42,602,000 after acquiring an additional 830 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Marsh & McLennan Companies by 0.9% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,180,332 shares of the financial services provider’s stock valued at $221,078,000 after acquiring an additional 10,161 shares during the last quarter. CENTRAL TRUST Co grew its position in Marsh & McLennan Companies by 5.5% during the fourth quarter. CENTRAL TRUST Co now owns 1,448 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 75 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Marsh & McLennan Companies during the fourth quarter worth about $1,381,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Marsh & McLennan Companies in the 4th quarter valued at about $2,825,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of NYSE:MMC traded down $0.09 on Friday, reaching $199.27. 1,039,890 shares of the company’s stock were exchanged, compared to its average volume of 1,926,955. Marsh & McLennan Companies, Inc. has a fifty-two week low of $171.47 and a fifty-two week high of $209.20. The business’s 50-day moving average is $202.84 and its two-hundred day moving average is $197.38. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $98.18 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 3.32 and a beta of 0.90.

Marsh & McLennan Companies (NYSE:MMC) last issued its earnings results on Thursday, April 18th. The financial services provider reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.09. The company had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.38 billion. Marsh & McLennan Companies had a return on equity of 34.14% and a net margin of 16.84%. Marsh & McLennan Companies’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.53 earnings per share. As a group, equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 8.69 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $2.84 annualized dividend and a dividend yield of 1.43%. Marsh & McLennan Companies’s dividend payout ratio is currently 36.04%.

Insider Activity at Marsh & McLennan Companies

In related news, VP Stacy Mills sold 1,461 shares of Marsh & McLennan Companies stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $209.16, for a total transaction of $305,582.76. Following the sale, the vice president now directly owns 2,923 shares in the company, valued at $611,374.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Marsh & McLennan Companies news, VP Stacy Mills sold 1,461 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $209.16, for a total transaction of $305,582.76. Following the completion of the transaction, the vice president now directly owns 2,923 shares of the company’s stock, valued at approximately $611,374.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Martine Ferland sold 9,128 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $201.63, for a total value of $1,840,478.64. Following the completion of the sale, the chief executive officer now directly owns 9,979 shares in the company, valued at approximately $2,012,065.77. The disclosure for this sale can be found here. Insiders have sold a total of 36,751 shares of company stock worth $7,448,163 in the last ninety days. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on MMC. Piper Sandler cut shares of Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 price target on the stock. in a research report on Wednesday, April 17th. TD Cowen raised their price objective on Marsh & McLennan Companies from $189.00 to $201.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Morgan Stanley upped their target price on Marsh & McLennan Companies from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods boosted their price target on Marsh & McLennan Companies from $185.00 to $188.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Finally, Evercore ISI increased their price objective on shares of Marsh & McLennan Companies from $212.00 to $218.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and an average target price of $207.69.

Marsh & McLennan Companies Company 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.