2,089 Shares in Marsh & McLennan Companies, Inc. $MMC Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,089 shares of the financial services provider’s stock, valued at approximately $457,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Accent Capital Management LLC bought a new position in Marsh & McLennan Companies in the 1st quarter worth about $25,000. Knuff & Co LLC bought a new position in Marsh & McLennan Companies in the 1st quarter worth about $28,000. Activest Wealth Management grew its stake in Marsh & McLennan Companies by 2,775.0% in the 1st quarter. Activest Wealth Management now owns 115 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 111 shares in the last quarter. Capital Analysts LLC grew its stake in Marsh & McLennan Companies by 61.0% in the 1st quarter. Capital Analysts LLC now owns 169 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 64 shares in the last quarter. Finally, Garde Capital Inc. bought a new position in Marsh & McLennan Companies in the 1st quarter worth about $42,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Stock Down 8.3%

MMC stock opened at $186.86 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $91.86 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.57 and a beta of 0.81. The firm has a 50-day simple moving average of $203.22 and a 200-day simple moving average of $214.58. Marsh & McLennan Companies, Inc. has a 52 week low of $185.12 and a 52 week high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.07. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. Marsh & McLennan Companies’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 EPS. Equities analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Thursday, October 2nd will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, October 2nd. Marsh & McLennan Companies’s payout ratio is presently 43.17%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MMC. UBS Group dropped their target price on shares of Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating on the stock in a research note 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 stock from $248.00 to $242.00 in a research note on Thursday, October 9th. Keefe, Bruyette & Woods cut their price objective on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating on the stock in a report on Monday, July 21st. Barclays reduced their target price on shares of Marsh & McLennan Companies from $233.00 to $221.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Finally, Citigroup began coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They set a “neutral” rating and a $226.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $237.13.

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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.35% of the stock is owned by insiders.

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.