Assetmark Inc. Has $149.66 Million Stock Holdings in Marsh & McLennan Companies, Inc. $MMC

Assetmark Inc. grew its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 684,512 shares of the financial services provider’s stock after buying an additional 26,360 shares during the quarter. Assetmark Inc.’s holdings in Marsh & McLennan Companies were worth $149,662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Premier Path Wealth Partners LLC increased its stake in shares of Marsh & McLennan Companies by 4.8% in the second quarter. Premier Path Wealth Partners LLC now owns 2,792 shares of the financial services provider’s stock valued at $611,000 after buying an additional 128 shares in the last quarter. Arkadios Wealth Advisors increased its stake in shares of Marsh & McLennan Companies by 58.9% in the second quarter. Arkadios Wealth Advisors now owns 5,111 shares of the financial services provider’s stock valued at $1,118,000 after buying an additional 1,894 shares in the last quarter. Lathrop Investment Management Co. acquired a new stake in shares of Marsh & McLennan Companies in the second quarter valued at $7,754,000. Daymark Wealth Partners LLC increased its stake in shares of Marsh & McLennan Companies by 39.9% in the second quarter. Daymark Wealth Partners LLC now owns 1,714 shares of the financial services provider’s stock valued at $375,000 after buying an additional 489 shares in the last quarter. Finally, Mayflower Financial Advisors LLC increased its stake in shares of Marsh & McLennan Companies by 17.9% in the second quarter. Mayflower Financial Advisors LLC now owns 2,510 shares of the financial services provider’s stock valued at $549,000 after buying an additional 381 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction dated 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 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 at this hyperlink. 0.35% of the stock is owned by company insiders.

Marsh & McLennan Companies Price Performance

Shares of MMC opened at $179.93 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19. Marsh & McLennan Companies, Inc. has a 1 year low of $179.26 and a 1 year high of $248.00. The stock has a market cap of $88.15 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 2.29 and a beta of 0.81. The stock’s 50-day moving average price is $199.58 and its two-hundred day moving average price is $211.55.

Marsh & McLennan Companies (NYSE:MMC) last issued its 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. Marsh & McLennan Companies had a return on equity of 31.79% and a net margin of 15.60%.The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter last year, the business earned $1.63 earnings per share. The company’s revenue 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 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. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, October 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 43.17%.

Analyst Upgrades and Downgrades

MMC has been the subject of a number of research reports. Barclays lowered their price objective on Marsh & McLennan Companies from $233.00 to $221.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Evercore ISI lowered their price objective on Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. The Goldman Sachs Group upgraded Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and lowered their price objective for the stock from $200.00 to $195.00 in a research report on Monday, October 20th. Wells Fargo & Company lowered their price objective on Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating for the company in a research report on Friday, October 17th. Finally, UBS Group lowered their price objective on Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating for the company in a research report 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $234.07.

Marsh & McLennan Companies 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.