Cornerstone Wealth Management LLC Purchases New Shares in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Cornerstone Wealth Management LLC acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,805 shares of the financial services provider’s stock, valued at approximately $596,000.

A number of other institutional investors have also recently bought and sold shares of MMC. Assenagon Asset Management S.A. lifted its position in shares of Marsh & McLennan Companies by 7,320.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,108,758 shares of the financial services provider’s stock valued at $235,511,000 after acquiring an additional 1,093,817 shares during the period. FMR LLC raised its stake in Marsh & McLennan Companies by 2.5% in the third quarter. FMR LLC now owns 21,445,110 shares of the financial services provider’s stock valued at $4,784,190,000 after purchasing an additional 518,185 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Marsh & McLennan Companies by 127.9% during the third quarter. The Manufacturers Life Insurance Company now owns 899,716 shares of the financial services provider’s stock worth $200,718,000 after buying an additional 504,897 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Marsh & McLennan Companies by 31,846.5% in the 3rd quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider’s stock valued at $95,430,000 after buying an additional 426,425 shares during the period. Finally, Truist Financial Corp raised its position in shares of Marsh & McLennan Companies by 93.9% in the 2nd quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock valued at $160,563,000 after buying an additional 368,970 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. Bank of America boosted their price target on Marsh & McLennan Companies from $248.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Roth Mkm raised their price objective on Marsh & McLennan Companies from $220.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group boosted their target price on Marsh & McLennan Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group raised their price target on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $228.60.

Marsh & McLennan Companies Price Performance

Shares of MMC opened at $218.94 on Friday. The stock has a market cap of $107.53 billion, a P/E ratio of 26.96, a P/E/G ratio of 2.27 and a beta of 0.96. The business’s fifty day moving average is $218.00 and its 200 day moving average is $221.24. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.89. Marsh & McLennan Companies, Inc. has a 12-month low of $188.31 and a 12-month high of $235.50.

Marsh & McLennan Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 30th will be given a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Thursday, January 30th. Marsh & McLennan Companies’s payout ratio is presently 40.15%.

Insider Buying and Selling

In related news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction 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 sale, the director now directly owns 48,549 shares of the company’s stock, valued at approximately $10,756,030.95. This represents a 4.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.