Foundations Investment Advisors LLC Boosts Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Posted by Defense World Staff on Mar 21st, 2023

Foundations Investment Advisors LLC boosted its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC – Get Rating) by 13.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,454 shares of the financial services provider’s stock after buying an additional 299 shares during the period. Foundations Investment Advisors LLC’s holdings in Marsh & McLennan Companies were worth $406,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC increased its stake in Marsh & McLennan Companies by 135.7% in the 3rd quarter. Larson Financial Group LLC now owns 165 shares of the financial services provider’s stock worth $25,000 after buying an additional 95 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in Marsh & McLennan Companies in the 2nd quarter worth $30,000. SRS Capital Advisors Inc. purchased a new stake in Marsh & McLennan Companies in the 3rd quarter worth $31,000. Almanack Investment Partners LLC. purchased a new position in shares of Marsh & McLennan Companies during the third quarter valued at about $43,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Marsh & McLennan Companies during the third quarter valued at about $48,000. Hedge funds and other institutional investors own 87.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MMC shares. Jefferies Financial Group lowered Marsh & McLennan Companies from a “buy” rating to a “hold” rating and cut their price objective for the company from $181.00 to $178.00 in a research report on Monday, January 9th. They noted that the move was a valuation call. BMO Capital Markets started coverage on Marsh & McLennan Companies in a research report on Thursday, January 19th. They set a “market perform” rating and a $168.00 price objective for the company. Credit Suisse Group raised their price objective on Marsh & McLennan Companies from $157.00 to $172.00 and gave the company a “neutral” rating in a research report on Monday, January 30th. Morgan Stanley raised their price objective on Marsh & McLennan Companies from $145.00 to $150.00 and gave the company an “underweight” rating in a research report on Tuesday, November 22nd. Finally, MKM Partners raised their price objective on Marsh & McLennan Companies from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, January 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $178.62.

Marsh & McLennan Companies Stock Up 1.5 %

Shares of NYSE MMC opened at $158.21 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $78.25 billion, a P/E ratio of 26.28, a PEG ratio of 2.46 and a beta of 0.93. Marsh & McLennan Companies, Inc. has a 1 year low of $143.33 and a 1 year high of $183.14. The firm has a 50-day simple moving average of $167.37 and a two-hundred day simple moving average of $164.18.

Marsh & McLennan Companies (NYSE:MMC – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.07. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.23 billion. Marsh & McLennan Companies had a net margin of 14.72% and a return on equity of 32.45%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 earnings per share. Research analysts anticipate that Marsh & McLennan Companies, Inc. will post 7.49 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Wednesday, April 5th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.49%. The ex-dividend date is Tuesday, April 4th. Marsh & McLennan Companies’s payout ratio is currently 39.20%.

Insiders Place Their Bets

In other news, Director Oscar Fanjul sold 2,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $173.70, for a total transaction of $503,730.00. Following the transaction, the director now directly owns 75,447 shares of the company’s stock, valued at $13,105,143.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Oscar Fanjul sold 2,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $173.70, for a total transaction of $503,730.00. Following the transaction, the director now directly owns 75,447 shares of the company’s stock, valued at $13,105,143.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dean Michael Klisura sold 3,140 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $165.22, for a total transaction of $518,790.80. Following the transaction, the chief executive officer now directly owns 20,935 shares in the company, valued at $3,458,880.70. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

About Marsh & McLennan Companies

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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.