Oppenheimer Asset Management Inc. Boosts Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Oppenheimer Asset Management Inc. lifted its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 69,520 shares of the financial services provider’s stock after acquiring an additional 196 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Marsh & McLennan Companies were worth $15,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings in Marsh & McLennan Companies by 18.8% in the 3rd quarter. Fortitude Family Office LLC now owns 285 shares of the financial services provider’s stock worth $64,000 after buying an additional 45 shares during the period. Kingfisher Capital LLC boosted its holdings in Marsh & McLennan Companies by 4.7% in the 2nd quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock worth $220,000 after buying an additional 47 shares during the period. Drive Wealth Management LLC boosted its holdings in Marsh & McLennan Companies by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock worth $291,000 after buying an additional 49 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in Marsh & McLennan Companies by 2.3% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock worth $468,000 after buying an additional 49 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in Marsh & McLennan Companies by 0.6% in the 2nd quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock worth $1,887,000 after buying an additional 51 shares during the period. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on MMC shares. Keefe, Bruyette & Woods increased their price objective on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their price objective on shares of Marsh & McLennan Companies from $232.00 to $242.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Barclays started coverage on shares of Marsh & McLennan Companies in a report on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 price objective for the company. Bank of America increased their price objective on shares of Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company lowered their price target 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 investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $225.33.

Marsh & McLennan Companies Stock Performance

Marsh & McLennan Companies stock opened at $225.64 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. Marsh & McLennan Companies, Inc. has a 1-year low of $184.28 and a 1-year high of $232.32. The firm has a market capitalization of $110.82 billion, a P/E ratio of 27.79, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. The company’s 50-day moving average is $224.68 and its 200 day moving average is $217.64.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the company posted $1.57 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Research analysts forecast that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 4th will be given a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 40.15%.

Insider Transactions at Marsh & McLennan Companies

In other news, Director Oscar Fanjul sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total transaction of $553,875.00. Following the transaction, the director now directly owns 48,549 shares of the company’s stock, valued at approximately $10,756,030.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

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.