Sompo Asset Management Co. Ltd. Grows Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Sompo Asset Management Co. Ltd. grew its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,260 shares of the financial services provider’s stock after buying an additional 1,580 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Marsh & McLennan Companies were worth $4,743,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC lifted its position 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 last quarter. Kingfisher Capital LLC boosted its stake in shares of 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 valued at $220,000 after purchasing an additional 47 shares in the last quarter. Drive Wealth Management LLC grew its holdings in shares of Marsh & McLennan Companies by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 49 shares during the last quarter. Legacy Financial Advisors Inc. lifted its stake in Marsh & McLennan Companies by 2.3% in the second quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 49 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position 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 valued at $1,887,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

MMC opened at $227.82 on Friday. Marsh & McLennan Companies, Inc. has a 12-month low of $184.28 and a 12-month high of $232.32. The company has a market cap of $111.89 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 3.34 and a beta of 0.94. 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 stock has a fifty day simple moving average of $223.67 and a two-hundred day simple moving average of $218.82.

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 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 business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the company earned $1.57 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. Research analysts predict that Marsh & McLennan Companies, Inc. will post 8.69 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The business also recently announced 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 1.43%. Marsh & McLennan Companies’s dividend payout ratio is currently 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 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 in the company, valued at $10,756,030.95. The trade was a 4.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America boosted their target price on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. The Goldman Sachs Group set a $220.00 target price on shares of Marsh & McLennan Companies and gave the stock a “sell” rating in a report on Friday, October 18th. Barclays upped 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 report on Thursday. Royal Bank of Canada boosted 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 research report on Friday, October 18th. Finally, Wells Fargo & Company dropped their target price 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 research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $226.00.

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.