Broderick Brian C Takes $515,000 Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Broderick Brian C bought a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,500 shares of the financial services provider’s stock, valued at approximately $515,000.

Other hedge funds have also recently made changes to their positions in the company. Toroso Investments LLC grew its stake in Marsh & McLennan Companies by 5.5% in the 3rd quarter. Toroso Investments LLC now owns 7,184 shares of the financial services provider’s stock worth $1,367,000 after acquiring an additional 375 shares in the last quarter. Creative Planning grew its stake in Marsh & McLennan Companies by 11.6% in the 3rd quarter. Creative Planning now owns 90,270 shares of the financial services provider’s stock worth $17,179,000 after acquiring an additional 9,359 shares in the last quarter. Integrated Advisors Network LLC grew its stake in Marsh & McLennan Companies by 1.5% in the 3rd quarter. Integrated Advisors Network LLC now owns 4,684 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 67 shares in the last quarter. Diversified Trust Co grew its stake in Marsh & McLennan Companies by 7.8% in the 3rd quarter. Diversified Trust Co now owns 16,934 shares of the financial services provider’s stock worth $3,223,000 after acquiring an additional 1,231 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in Marsh & McLennan Companies by 5.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 114,456 shares of the financial services provider’s stock worth $21,781,000 after acquiring an additional 5,758 shares in the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MMC has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on shares of Marsh & McLennan Companies from $205.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Wells Fargo & Company increased their price objective on shares of Marsh & McLennan Companies from $212.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. Piper Sandler downgraded shares of Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 price objective on the stock. in a research note on Wednesday, April 17th. Bank of America increased their price objective 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. Finally, TD Cowen increased their price objective on shares of Marsh & McLennan Companies from $189.00 to $201.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $213.60.

Marsh & McLennan Companies Stock Performance

Shares of NYSE MMC traded up $2.47 during midday trading on Thursday, reaching $217.34. The company had a trading volume of 1,442,445 shares, compared to its average volume of 1,686,478. The business’s 50-day simple moving average is $209.26 and its 200 day simple moving average is $202.60. The stock has a market cap of $107.09 billion, a P/E ratio of 27.58, a P/E/G ratio of 3.04 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 1 year low of $184.02 and a 1 year high of $217.39. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.09. The business had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.38 billion. Marsh & McLennan Companies had a net margin of 16.84% and a return on equity of 34.14%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $2.53 earnings per share. On average, analysts forecast that Marsh & McLennan Companies, Inc. will post 8.68 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Thursday, July 25th. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 36.04%.

Insider Buying and Selling

In related news, Director Oscar Fanjul sold 6,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $209.01, for a total transaction of $1,254,060.00. Following the completion of the transaction, the director now owns 53,393 shares of the company’s stock, valued at $11,159,670.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Oscar Fanjul sold 6,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $209.01, for a total transaction of $1,254,060.00. Following the completion of the transaction, the director now owns 53,393 shares of the company’s stock, valued at $11,159,670.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Paul Beswick sold 2,169 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $210.13, for a total transaction of $455,771.97. Following the sale, the senior vice president now owns 13,030 shares in the company, valued at approximately $2,737,993.90. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

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.