3,166 Shares in Marsh & McLennan Companies, Inc. (NYSE:MMC) Purchased by Merit Financial Group LLC

Posted by Defense World Staff on Mar 25th, 2023

Merit Financial Group LLC bought a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,166 shares of the financial services provider’s stock, valued at approximately $524,000.

Several other large investors have also recently made changes to their positions in the business. Gofen & Glossberg LLC IL increased its position in Marsh & McLennan Companies by 3.3% during the 4th quarter. Gofen & Glossberg LLC IL now owns 3,803 shares of the financial services provider’s stock valued at $629,000 after buying an additional 120 shares in the last quarter. Northside Capital Management LLC bought a new position in shares of Marsh & McLennan Companies during the fourth quarter valued at $204,000. New England Professional Planning Group Inc. purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter worth about $200,000. Gateway Investment Advisers LLC boosted its stake in Marsh & McLennan Companies by 34.8% in the 4th quarter. Gateway Investment Advisers LLC now owns 4,452 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Segment Wealth Management LLC increased its stake in Marsh & McLennan Companies by 2.1% during the 4th quarter. Segment Wealth Management LLC now owns 73,342 shares of the financial services provider’s stock valued at $12,137,000 after purchasing an additional 1,480 shares in the last quarter. 87.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 2,900 shares of Marsh & McLennan Companies stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $173.70, for a total transaction of $503,730.00. Following the sale, the director now owns 75,447 shares of the company’s stock, valued at approximately $13,105,143.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Oscar Fanjul sold 2,900 shares of the business’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $173.70, for a total value of $503,730.00. Following the transaction, the director now owns 75,447 shares of the company’s stock, valued at $13,105,143.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dean Michael Klisura sold 3,140 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 20,935 shares in the company, valued at approximately $3,458,880.70. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Marsh & McLennan Companies Price Performance

Shares of Marsh & McLennan Companies stock opened at $160.53 on Friday. The stock has a market cap of $79.39 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.53 and a beta of 0.93. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s fifty day moving average is $166.29 and its 200 day moving average is $164.10. Marsh & McLennan Companies, Inc. has a one year low of $143.33 and a one year high of $183.14.

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

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, April 4th. This represents a $2.36 dividend on an annualized basis and a yield of 1.47%. Marsh & McLennan Companies’s payout ratio is presently 39.20%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MMC. Jefferies Financial Group downgraded shares of Marsh & McLennan Companies from a “buy” rating to a “hold” rating and dropped their target price for the stock from $181.00 to $178.00 in a research note on Monday, January 9th. They noted that the move was a valuation call. BMO Capital Markets began coverage on Marsh & McLennan Companies in a research note on Thursday, January 19th. They set a “market perform” rating and a $168.00 target price on the stock. Raymond James boosted their price target on Marsh & McLennan Companies from $180.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, January 30th. Citigroup lifted their price objective on Marsh & McLennan Companies from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Wednesday, February 1st. Finally, Wells Fargo & Company upped their target price on shares of Marsh & McLennan Companies from $190.00 to $197.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. One equities 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 company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $178.62.

Marsh & McLennan Companies Company Profile

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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.