Raleigh Capital Management Inc. Boosts Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Posted by Defense World Staff on Sep 15th, 2023

Raleigh Capital Management Inc. boosted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) by 91.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258 shares of the financial services provider’s stock after buying an additional 123 shares during the period. Raleigh Capital Management Inc.’s holdings in Marsh & McLennan Companies were worth $43,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MMC. Pinnacle Associates Ltd. grew its holdings in shares of Marsh & McLennan Companies by 1.0% in the first quarter. Pinnacle Associates Ltd. now owns 6,556 shares of the financial services provider’s stock valued at $1,092,000 after purchasing an additional 65 shares during the period. Trustcore Financial Services LLC grew its position in Marsh & McLennan Companies by 2.0% in the fourth quarter. Trustcore Financial Services LLC now owns 3,395 shares of the financial services provider’s stock worth $562,000 after acquiring an additional 67 shares during the period. CVA Family Office LLC grew its position in Marsh & McLennan Companies by 8.0% in the first quarter. CVA Family Office LLC now owns 934 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 69 shares during the period. Heron Financial Group LLC boosted its stake in Marsh & McLennan Companies by 5.0% during the first quarter. Heron Financial Group LLC now owns 1,479 shares of the financial services provider’s stock worth $246,000 after buying an additional 70 shares during the period. Finally, Miracle Mile Advisors LLC boosted its stake in Marsh & McLennan Companies by 0.5% during the first quarter. Miracle Mile Advisors LLC now owns 13,433 shares of the financial services provider’s stock worth $2,237,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Activity at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $194.90, for a total value of $584,700.00. Following the completion of the sale, the director now directly owns 63,012 shares of the company’s stock, valued at $12,281,038.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $194.90, for a total value of $584,700.00. Following the completion of the sale, the director now owns 63,012 shares in the company, valued at $12,281,038.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Dean Michael Klisura sold 12,976 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $192.20, for a total value of $2,493,987.20. Following the completion of the sale, the chief executive officer now owns 20,935 shares of the company’s stock, valued at approximately $4,023,707. The disclosure for this sale can be found here. Insiders have sold 86,082 shares of company stock valued at $16,085,453 in the last ninety days. Insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Stock Up 0.9 %

Shares of Marsh & McLennan Companies stock opened at $198.59 on Friday. Marsh & McLennan Companies, Inc. has a 52-week low of $148.11 and a 52-week high of $198.73. The company has a 50 day moving average of $191.09 and a 200 day moving average of $179.38. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $98.09 billion, a P/E ratio of 30.31, a P/E/G ratio of 2.42 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.08. The business had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.77 billion. Marsh & McLennan Companies had a return on equity of 33.69% and a net margin of 15.20%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 EPS. As a group, research analysts forecast that Marsh & McLennan Companies, Inc. will post 7.71 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Thursday, July 27th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Wednesday, July 26th. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.59. Marsh & McLennan Companies’s payout ratio is currently 43.36%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MMC shares. Bank of America raised shares of Marsh & McLennan Companies from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $189.00 to $210.00 in a research note on Friday, July 21st. Wells Fargo & Company raised their price target on Marsh & McLennan Companies from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Friday, July 21st. Raymond James raised their price target on Marsh & McLennan Companies from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. JPMorgan Chase & Co. raised their price target on Marsh & McLennan Companies from $182.00 to $197.00 in a research report on Thursday, July 6th. Finally, Evercore ISI raised shares of Marsh & McLennan Companies from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $195.00 to $199.00 in a research note on Thursday, June 8th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $193.23.

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Marsh & McLennan Companies Company Profile

(Free Report)

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.