Cary Street Partners Investment Advisory LLC Increases Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Cary Street Partners Investment Advisory LLC increased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 9.1% in the second quarter, HoldingsChannel reports. The firm owned 17,808 shares of the financial services provider’s stock after buying an additional 1,489 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Marsh & McLennan Companies were worth $3,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nilsine Partners LLC increased its position in Marsh & McLennan Companies by 0.8% during the 2nd quarter. Nilsine Partners LLC now owns 6,386 shares of the financial services provider’s stock worth $1,201,000 after purchasing an additional 52 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Marsh & McLennan Companies by 40.5% in the 2nd quarter. Jones Financial Companies Lllp now owns 184 shares of the financial services provider’s stock worth $35,000 after buying an additional 53 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in Marsh & McLennan Companies by 2.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 2,255 shares of the financial services provider’s stock worth $424,000 after buying an additional 62 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in Marsh & McLennan Companies by 1.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 6,556 shares of the financial services provider’s stock worth $1,092,000 after buying an additional 65 shares during the last quarter. Finally, Dfpg Investments LLC boosted its stake in Marsh & McLennan Companies by 0.9% in the 2nd quarter. Dfpg Investments LLC now owns 8,099 shares of the financial services provider’s stock worth $1,517,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Marsh & McLennan Companies Price Performance

MMC stock opened at $197.86 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.02. Marsh & McLennan Companies, Inc. has a 52-week low of $151.86 and a 52-week high of $201.00. The stock’s 50 day moving average is $193.31 and its two-hundred day moving average is $187.92. The company has a market capitalization of $97.56 billion, a PE ratio of 28.51, a P/E/G ratio of 2.26 and a beta of 0.97.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.18. Marsh & McLennan Companies had a return on equity of 34.01% and a net margin of 15.61%. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the business earned $1.18 EPS. Marsh & McLennan Companies’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts predict that Marsh & McLennan Companies, Inc. will post 7.93 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 6th were issued a dividend of $0.71 per share. The ex-dividend date was Thursday, October 5th. This represents a $2.84 annualized dividend and a yield of 1.44%. Marsh & McLennan Companies’s dividend payout ratio is presently 40.92%.

Insiders Place Their Bets

In other news, CMO John Jude Jones sold 4,908 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $193.08, for a total value of $947,636.64. Following the completion of the sale, the chief marketing officer now directly owns 7,978 shares in the company, valued at approximately $1,540,392.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CMO John Jude Jones sold 4,908 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $193.08, for a total transaction of $947,636.64. Following the completion of the transaction, the chief marketing officer now directly owns 7,978 shares in the company, valued at approximately $1,540,392.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Oscar Fanjul sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $194.90, for a total value of $584,700.00. Following the transaction, the director now owns 63,012 shares of the company’s stock, valued at $12,281,038.80. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada raised their price target on Marsh & McLennan Companies from $195.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, October 20th. Morgan Stanley lifted their price objective on Marsh & McLennan Companies from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 11th. Jefferies Financial Group lifted their price objective on Marsh & McLennan Companies from $196.00 to $209.00 and gave the company a “hold” rating in a research note on Friday, October 6th. StockNews.com assumed coverage on Marsh & McLennan Companies in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Raymond James lifted their price objective on Marsh & McLennan Companies from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has an average rating of “Hold” and a consensus target price of $201.38.

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 in two segments, Risk and Insurance Services, and Consulting. 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.