Brown Advisory Inc. Grows Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Posted by on Jun 11th, 2023

Brown Advisory Inc. grew its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC – Get Rating) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,155 shares of the financial services provider’s stock after buying an additional 1,834 shares during the period. Brown Advisory Inc.’s holdings in Marsh & McLennan Companies were worth $9,789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CoreCap Advisors LLC purchased a new position in Marsh & McLennan Companies in the 4th quarter worth approximately $25,000. Institutional & Family Asset Management LLC bought a new position in shares of Marsh & McLennan Companies during the 4th quarter valued at $27,000. Almanack Investment Partners LLC. bought a new position in shares of Marsh & McLennan Companies during the 3rd quarter valued at $43,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of Marsh & McLennan Companies during the 4th quarter valued at $52,000. Finally, Gradient Investments LLC grew its holdings in shares of Marsh & McLennan Companies by 53.6% during the 4th quarter. Gradient Investments LLC now owns 338 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 87.30% of the company’s stock.

Marsh & McLennan Companies Trading Up 1.1 %

Shares of NYSE MMC opened at $178.25 on Friday. Marsh & McLennan Companies, Inc. has a 1 year low of $143.33 and a 1 year high of $182.43. The stock has a market cap of $88.18 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 2.40 and a beta of 0.94. The firm has a 50-day moving average of $175.93 and a 200 day moving average of $170.40. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.15 and a quick ratio of 1.15.

Marsh & McLennan Companies (NYSE:MMC – Get Rating) last issued its quarterly earnings results on Thursday, April 20th. The financial services provider reported $2.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.06. Marsh & McLennan Companies had a net margin of 15.24% and a return on equity of 33.33%. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.86 billion. During the same period last year, the company posted $2.30 EPS. Marsh & McLennan Companies’s revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 7.6 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Wednesday, April 5th were issued a $0.59 dividend. The ex-dividend date was Tuesday, April 4th. This represents a $2.36 annualized dividend and a yield of 1.32%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 36.93%.

Wall Street Analyst Weigh In

Several research firms recently commented on MMC. Jefferies Financial Group reduced their target price on shares of Marsh & McLennan Companies from $184.00 to $180.00 in a report on Monday, April 10th. Citigroup raised their price target on shares of Marsh & McLennan Companies from $190.00 to $192.00 and gave the stock a “neutral” rating in a report on Tuesday, April 18th. Wells Fargo & Company raised their price target on shares of Marsh & McLennan Companies from $197.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 21st. BMO Capital Markets raised their price target on shares of Marsh & McLennan Companies from $168.00 to $192.00 in a report on Monday, May 15th. Finally, StockNews.com started coverage on shares of Marsh & McLennan Companies in a report on Thursday, May 18th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $183.54.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 5,500 shares of Marsh & McLennan Companies stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $179.38, for a total value of $986,590.00. Following the completion of the transaction, the director now directly owns 70,116 shares of the company’s stock, valued at $12,577,408.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

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.

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Institutional Ownership by Quarter for Marsh & McLennan Companies (NYSE:MMC)

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