Carnegie Investment Counsel Acquires 8,850 Shares of Marsh & McLennan Companies, Inc. $MMC

Carnegie Investment Counsel raised its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 9.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,395 shares of the financial services provider’s stock after acquiring an additional 8,850 shares during the quarter. Carnegie Investment Counsel’s holdings in Marsh & McLennan Companies were worth $22,606,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MMC. FSM Wealth Advisors LLC increased its holdings in shares of Marsh & McLennan Companies by 6.6% in the second quarter. FSM Wealth Advisors LLC now owns 1,783 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 110 shares during the last quarter. Cadinha & Co. LLC bought a new stake in shares of Marsh & McLennan Companies in the second quarter worth about $18,087,000. Cornerstone Advisory LLC increased its holdings in shares of Marsh & McLennan Companies by 2.6% in the second quarter. Cornerstone Advisory LLC now owns 2,062 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 53 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI increased its holdings in shares of Marsh & McLennan Companies by 1.6% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 25,890 shares of the financial services provider’s stock worth $5,661,000 after purchasing an additional 409 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in shares of Marsh & McLennan Companies by 1.5% in the second quarter. Bleakley Financial Group LLC now owns 34,291 shares of the financial services provider’s stock worth $7,497,000 after purchasing an additional 512 shares during the last quarter. 87.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MMC. Evercore ISI reduced their target price on Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Wolfe Research assumed coverage on Marsh & McLennan Companies in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. raised Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $248.00 to $242.00 in a research note on Thursday, October 9th. Citigroup assumed coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set a “neutral” rating and a $226.00 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Marsh & McLennan Companies in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $234.07.

Insider Activity

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by company insiders.

Marsh & McLennan Companies Stock Down 0.7%

Shares of NYSE:MMC opened at $188.04 on Friday. Marsh & McLennan Companies, Inc. has a 1 year low of $185.12 and a 1 year high of $248.00. The business has a 50 day simple moving average of $201.58 and a two-hundred day simple moving average of $212.93. The firm has a market capitalization of $92.12 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 2.37 and a beta of 0.81. 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 (NYSE:MMC) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.07. Marsh & McLennan Companies had a return on equity of 31.79% and a net margin of 15.60%.The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

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

Marsh & McLennan Companies Company Profile

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.