OLD National Bancorp IN Acquires 135 Shares of Marsh & McLennan Companies, Inc. $MMC

OLD National Bancorp IN lifted its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 10.8% during the 2nd quarter, Holdings Channel reports. The firm owned 1,383 shares of the financial services provider’s stock after purchasing an additional 135 shares during the period. OLD National Bancorp IN’s holdings in Marsh & McLennan Companies were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in MMC. Harbour Investments Inc. boosted its position in shares of Marsh & McLennan Companies by 3.6% during the 1st quarter. Harbour Investments Inc. now owns 1,253 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 44 shares in the last quarter. Defined Wealth Management LLC boosted its position in shares of Marsh & McLennan Companies by 1.5% during the 1st quarter. Defined Wealth Management LLC now owns 3,198 shares of the financial services provider’s stock worth $780,000 after acquiring an additional 47 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Marsh & McLennan Companies by 0.6% during the 1st quarter. IFP Advisors Inc now owns 7,479 shares of the financial services provider’s stock worth $1,825,000 after acquiring an additional 47 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Marsh & McLennan Companies by 1.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,517 shares of the financial services provider’s stock worth $1,102,000 after acquiring an additional 47 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted its position in shares of Marsh & McLennan Companies by 3.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,263 shares of the financial services provider’s stock worth $308,000 after acquiring an additional 47 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total value of $4,334,896.35. Following the transaction, the chief executive officer directly owned 87,681 shares in the company, valued at $18,031,597.65. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Trading Up 1.2%

MMC opened at $203.76 on Wednesday. Marsh & McLennan Companies, Inc. has a 1-year low of $195.01 and a 1-year high of $248.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. The company has a market cap of $100.17 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 2.53 and a beta of 0.81. The company has a fifty day moving average price of $202.88 and a two-hundred day moving average price of $216.21.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.06. The firm had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.92 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $2.41 earnings per share. Analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, October 2nd. This represents a $3.60 annualized dividend and a yield of 1.8%. Marsh & McLennan Companies’s payout ratio is 43.17%.

Wall Street Analysts Forecast Growth

MMC has been the topic of several analyst reports. Barclays reduced their price target on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Monday, July 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Marsh & McLennan Companies in a research report on Saturday, September 27th. Wells Fargo & Company cut their target price on shares of Marsh & McLennan Companies from $229.00 to $226.00 and set an “equal weight” rating on the stock in a research report on Friday, July 18th. Cantor Fitzgerald initiated coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $256.00 target price on the stock. Finally, Morgan Stanley dropped their price target on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Marsh & McLennan Companies presently has an average rating of “Hold” and an average target price of $238.47.

About Marsh & McLennan Companies

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.