Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 21.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,600 shares of the financial services provider’s stock after purchasing an additional 59,581 shares during the period. Renaissance Technologies LLC’s holdings in Marsh & McLennan Companies were worth $71,561,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MMC. Drive Wealth Management LLC raised its holdings in Marsh & McLennan Companies by 3.7% in the second quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 49 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Marsh & McLennan Companies by 0.6% in the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock valued at $1,887,000 after acquiring an additional 51 shares in the last quarter. X Square Capital LLC raised its holdings in Marsh & McLennan Companies by 1.8% in the second quarter. X Square Capital LLC now owns 2,957 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 51 shares in the last quarter. Evoke Wealth LLC raised its holdings in Marsh & McLennan Companies by 4.4% in the fourth quarter. Evoke Wealth LLC now owns 1,258 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 53 shares in the last quarter. Finally, RDA Financial Network raised its holdings in Marsh & McLennan Companies by 3.1% in the first quarter. RDA Financial Network now owns 1,762 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 53 shares in the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Performance

Shares of MMC opened at $231.17 on Tuesday. The firm has a 50-day moving average price of $222.50 and a 200 day moving average price of $211.78. The firm has a market capitalization of $113.90 billion, a PE ratio of 29.34, a P/E/G ratio of 3.20 and a beta of 0.94. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.91. Marsh & McLennan Companies, Inc. has a 52-week low of $184.02 and a 52-week high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, July 18th. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.01. The firm had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.31 billion. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. Marsh & McLennan Companies’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.20 EPS. On average, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.74 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, July 25th. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. Marsh & McLennan Companies’s dividend payout ratio is currently 41.37%.

Insider Activity at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, SVP Paul Beswick sold 2,169 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $477,180.00. Following the completion of the sale, the senior vice president now directly owns 11,861 shares of the company’s stock, valued at approximately $2,609,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Marsh & McLennan Companies news, SVP Paul Beswick sold 2,169 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $477,180.00. Following the completion of the sale, the senior vice president now directly owns 11,861 shares of the company’s stock, valued at approximately $2,609,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark C. Mcgivney sold 5,200 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $225.03, for a total transaction of $1,170,156.00. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at $7,578,560.34. The disclosure for this sale can be found here. Insiders sold 21,735 shares of company stock worth $4,897,317 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MMC has been the topic of several recent analyst reports. Roth Mkm upped their price target on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Bank of America boosted their target price on shares of Marsh & McLennan Companies from $223.00 to $233.00 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd. Royal Bank of Canada boosted their target price on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. Barclays initiated coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Marsh & McLennan Companies presently has an average rating of “Hold” and an average target price of $215.53.

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.