TrueMark Investments LLC Acquires New Position in Marsh & McLennan Companies, Inc. $MMC

TrueMark Investments LLC acquired a new stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,852 shares of the financial services provider’s stock, valued at approximately $405,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Harbour Investments Inc. lifted its stake in shares of Marsh & McLennan Companies by 3.6% in the first quarter. Harbour Investments Inc. now owns 1,253 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 44 shares during the period. IFP Advisors Inc lifted its stake in shares of Marsh & McLennan Companies by 0.6% in the first quarter. IFP Advisors Inc now owns 7,479 shares of the financial services provider’s stock valued at $1,825,000 after purchasing an additional 47 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Marsh & McLennan Companies by 1.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,517 shares of the financial services provider’s stock valued at $1,102,000 after purchasing an additional 47 shares during the period. E Fund Management Co. Ltd. lifted its stake in shares of Marsh & McLennan Companies by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 1,263 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 47 shares during the period. Finally, McAdam LLC increased its holdings in Marsh & McLennan Companies by 1.2% during the 1st quarter. McAdam LLC now owns 3,948 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MMC shares. Weiss Ratings restated a “hold (c+)” rating on shares of Marsh & McLennan Companies in a report on Wednesday, October 8th. JPMorgan Chase & Co. upgraded shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $248.00 to $242.00 in a report on Thursday, October 9th. Cantor Fitzgerald started coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They set an “overweight” rating and a $256.00 target price for the company. Evercore ISI dropped their target price on shares of Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating for the company in a report on Friday. Finally, Morgan Stanley dropped their target price on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $236.43.

Marsh & McLennan Companies Stock Performance

Shares of NYSE MMC opened at $189.85 on Monday. The company has a 50-day simple moving average of $202.94 and a 200-day simple moving average of $213.79. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12. Marsh & McLennan Companies, Inc. has a 12 month low of $185.12 and a 12 month high of $248.00. The company has a market cap of $93.01 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 2.39 and a beta of 0.81.

Marsh & McLennan Companies (NYSE:MMC) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.07. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same period last year, the company earned $1.63 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 annualized dividend and a dividend yield of 1.9%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 43.17%.

Insider Activity

In related news, CEO John Q. Doyle sold 21,079 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 87,681 shares of the company’s stock, valued at approximately $18,031,597.65. This trade represents 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 at the SEC website. Corporate insiders own 0.35% of the company’s stock.

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.