Algert Global LLC Buys Shares of 15,029 Marsh & McLennan Companies, Inc. (NYSE:MMC)

Algert Global LLC purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,029 shares of the financial services provider’s stock, valued at approximately $3,353,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMC. University of Texas Texas AM Investment Management Co. acquired a new stake in Marsh & McLennan Companies in the second quarter valued at approximately $3,710,000. Czech National Bank grew its stake in Marsh & McLennan Companies by 6.7% during the 3rd quarter. Czech National Bank now owns 100,175 shares of the financial services provider’s stock worth $22,348,000 after buying an additional 6,282 shares during the last quarter. Raymond James & Associates raised its stake in Marsh & McLennan Companies by 2.6% in the second quarter. Raymond James & Associates now owns 925,411 shares of the financial services provider’s stock valued at $195,003,000 after buying an additional 23,133 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Marsh & McLennan Companies by 236.7% in the first quarter. Cetera Investment Advisers now owns 55,496 shares of the financial services provider’s stock worth $11,431,000 after acquiring an additional 39,013 shares in the last quarter. Finally, Kinsale Capital Group Inc. increased its holdings in shares of Marsh & McLennan Companies by 16.8% during the third quarter. Kinsale Capital Group Inc. now owns 27,004 shares of the financial services provider’s stock valued at $6,024,000 after acquiring an additional 3,880 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Up 1.3 %

Marsh & McLennan Companies stock opened at $230.71 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $113.31 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 3.39 and a beta of 0.94. The business has a 50 day simple moving average of $223.66 and a 200-day simple moving average of $219.11. Marsh & McLennan Companies, Inc. has a 12 month low of $184.28 and a 12 month high of $232.32.

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 (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted $1.57 earnings per share. On average, analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 4th were issued a dividend of $0.815 per share. 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 1.41%. Marsh & McLennan Companies’s payout ratio is currently 40.15%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Bank of America upped their target price on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price target on Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods raised their price objective on Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company dropped their target price on Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating on the stock in a research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $227.60.

Insider Transactions at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 2,500 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $10,756,030.95. The trade was a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

About Marsh & McLennan Companies

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.