Princeton Global Asset Management LLC Purchases 2,883 Shares of Marsh & McLennan Companies, Inc. $MMC

Princeton Global Asset Management LLC boosted its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 43.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,551 shares of the financial services provider’s stock after buying an additional 2,883 shares during the period. Princeton Global Asset Management LLC’s holdings in Marsh & McLennan Companies were worth $2,088,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMC. Wellington Management Group LLP increased its position in Marsh & McLennan Companies by 54.2% during the 1st quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider’s stock valued at $3,127,193,000 after buying an additional 4,505,548 shares in the last quarter. Nuveen LLC bought a new position in Marsh & McLennan Companies during the 1st quarter valued at approximately $1,038,594,000. Valeo Financial Advisors LLC increased its position in Marsh & McLennan Companies by 48,212.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,629,187 shares of the financial services provider’s stock valued at $574,845,000 after buying an additional 2,623,745 shares in the last quarter. Ninety One UK Ltd increased its position in Marsh & McLennan Companies by 153.6% during the 1st quarter. Ninety One UK Ltd now owns 2,370,678 shares of the financial services provider’s stock valued at $578,517,000 after buying an additional 1,436,044 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Marsh & McLennan Companies by 5,035.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 808,800 shares of the financial services provider’s stock valued at $176,836,000 after buying an additional 793,052 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Marsh & McLennan Companies in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upgraded Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and cut their target price for the company from $248.00 to $242.00 in a research note on Thursday, October 9th. Wells Fargo & Company cut their target price on Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating on the stock in a research note on Friday. Cantor Fitzgerald assumed coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set an “overweight” rating and a $256.00 target price on the stock. Finally, Barclays cut their target price on Marsh & McLennan Companies from $233.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $236.43.

Marsh & McLennan Companies Stock Performance

MMC stock opened at $189.85 on Monday. The company has a market cap of $93.01 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 2.39 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a 1 year low of $185.12 and a 1 year high of $248.00. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s fifty day moving average price is $202.94 and its 200-day moving average price is $213.79.

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

Marsh & McLennan Companies Announces Dividend

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 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 1.9%. Marsh & McLennan Companies’s payout ratio is 43.17%.

Insiders Place Their Bets

In related news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the transaction, the chief executive officer directly owned 87,681 shares in the company, valued at approximately $18,031,597.65. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.