Allspring Global Investments Holdings LLC Acquires 2,068 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Allspring Global Investments Holdings LLC grew its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,708 shares of the financial services provider’s stock after acquiring an additional 2,068 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Marsh & McLennan Companies were worth $32,952,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Kingfisher Capital LLC grew its stake in shares of Marsh & McLennan Companies by 4.7% in the 2nd quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 47 shares in the last quarter. Drive Wealth Management LLC boosted its stake in Marsh & McLennan Companies by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 49 shares during the period. Legacy Financial Advisors Inc. lifted its stake in Marsh & McLennan Companies by 2.3% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 49 shares in the last quarter. Ritholtz Wealth Management grew its position in Marsh & McLennan Companies by 0.6% during the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock worth $1,887,000 after buying an additional 51 shares in the last quarter. Finally, X Square Capital LLC lifted its position in Marsh & McLennan Companies by 1.8% during the second quarter. X Square Capital LLC now owns 2,957 shares of the financial services provider’s stock valued at $623,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

NYSE:MMC opened at $223.49 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.17 and a quick ratio of 1.17. Marsh & McLennan Companies, Inc. has a 12 month low of $184.02 and a 12 month high of $232.32. The firm has a market capitalization of $110.12 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 3.58 and a beta of 0.94. The business’s fifty day moving average price is $225.51 and its 200 day moving average price is $215.39.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.02. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.71 billion. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 EPS. On average, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.73 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 4th will be issued a $0.815 dividend. The ex-dividend date is Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.46%. Marsh & McLennan Companies’s payout ratio is 41.37%.

Insider Buying and Selling

In other news, CFO Mark C. Mcgivney sold 5,200 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $225.03, for a total value of $1,170,156.00. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at approximately $7,578,560.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Mark C. Mcgivney sold 5,200 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $225.03, for a total transaction of $1,170,156.00. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at $7,578,560.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Stacy Mills sold 4,101 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $225.77, for a total transaction of $925,882.77. Following the transaction, the vice president now owns 2,923 shares in the company, valued at approximately $659,925.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,566 shares of company stock worth $4,420,137 in the last 90 days. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on MMC shares. Jefferies Financial Group lifted their target price on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. The Goldman Sachs Group set a $220.00 price objective on Marsh & McLennan Companies and gave the company a “sell” rating in a report on Friday, October 18th. UBS Group raised their target price on Marsh & McLennan Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the company an “underperform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus price target of $225.33.

Marsh & McLennan Companies Profile

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.