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

Cary Street Partners Investment Advisory LLC raised its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,808 shares of the financial services provider’s stock after acquiring an additional 1,489 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Marsh & McLennan Companies were worth $3,349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MMC. Jupiter Asset Management Ltd. raised its position in shares of Marsh & McLennan Companies by 36.9% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 45,505 shares of the financial services provider’s stock valued at $8,556,000 after purchasing an additional 12,258 shares during the last quarter. Clarius Group LLC lifted its stake in shares of Marsh & McLennan Companies by 2.8% during the second quarter. Clarius Group LLC now owns 5,850 shares of the financial services provider’s stock worth $1,100,000 after buying an additional 159 shares during the period. Checchi Capital Advisers LLC increased its position in shares of Marsh & McLennan Companies by 7.4% in the 2nd quarter. Checchi Capital Advisers LLC now owns 6,583 shares of the financial services provider’s stock valued at $1,238,000 after acquiring an additional 456 shares during the period. Cetera Advisors LLC raised its stake in Marsh & McLennan Companies by 107.4% in the 2nd quarter. Cetera Advisors LLC now owns 9,702 shares of the financial services provider’s stock worth $1,825,000 after acquiring an additional 5,025 shares during the last quarter. Finally, Cetera Advisor Networks LLC raised its stake in shares of Marsh & McLennan Companies by 2.0% in the second quarter. Cetera Advisor Networks LLC now owns 25,985 shares of the financial services provider’s stock worth $4,887,000 after purchasing an additional 499 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Price Performance

Shares of NYSE MMC opened at $197.86 on Friday. The firm has a market cap of $97.56 billion, a PE ratio of 28.51, a PEG ratio of 2.26 and a beta of 0.97. The firm has a fifty day moving average of $193.31 and a 200 day moving average of $187.92. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.08 and a current ratio of 1.08. Marsh & McLennan Companies, Inc. has a one year low of $151.86 and a one year high of $201.00.

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

Marsh & McLennan Companies Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently weighed in on MMC. Raymond James increased their price target on shares of Marsh & McLennan Companies from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Jefferies Financial Group increased their price target on shares of Marsh & McLennan Companies from $196.00 to $209.00 and gave the stock a “hold” rating in a report on Friday, October 6th. Citigroup increased their price target on shares of Marsh & McLennan Companies from $201.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, October 20th. Bank of America upgraded shares of Marsh & McLennan Companies from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $189.00 to $210.00 in a report on Friday, July 21st. Finally, Royal Bank of Canada lifted their target price on shares of Marsh & McLennan Companies from $195.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, October 20th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Marsh & McLennan Companies has a consensus rating of “Hold” and an average price target of $201.38.

Insider Activity

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