Marsh & McLennan Companies, Inc. $MMC Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 212.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,285,194 shares of the financial services provider’s stock after purchasing an additional 1,554,114 shares during the period. Mackenzie Financial Corp’s holdings in Marsh & McLennan Companies were worth $499,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MMC. Vanguard Group Inc. grew its stake in shares of Marsh & McLennan Companies by 1.8% in the second quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock worth $10,092,108,000 after purchasing an additional 837,117 shares in the last quarter. Wellington Management Group LLP grew its position in Marsh & McLennan Companies by 54.2% in 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. Geode Capital Management LLC increased its stake in Marsh & McLennan Companies by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 12,684,210 shares of the financial services provider’s stock valued at $2,762,513,000 after buying an additional 196,475 shares during the period. Norges Bank bought a new stake in shares of Marsh & McLennan Companies during the 2nd quarter worth about $1,328,587,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Marsh & McLennan Companies by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,345,211 shares of the financial services provider’s stock valued at $1,060,362,000 after acquiring an additional 340,907 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Up 0.4%

MMC opened at $183.51 on Friday. Marsh & McLennan Companies, Inc. has a twelve month low of $174.18 and a twelve month high of $248.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12. The business has a 50 day moving average price of $189.42 and a 200 day moving average price of $204.88. The firm has a market cap of $89.90 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 2.25 and a beta of 0.78.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.07. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. Marsh & McLennan Companies’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.63 earnings per share. Research analysts forecast 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 was paid on Friday, November 14th. Investors of record on Thursday, October 2nd were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, October 2nd. This represents a $3.60 annualized dividend and a yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio is presently 43.17%.

Analyst Ratings Changes

Several equities research analysts have commented on MMC shares. Morgan Stanley dropped their price target on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. The Goldman Sachs Group raised shares of Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and cut their target price for the company from $200.00 to $195.00 in a research note on Monday, October 20th. Citigroup assumed coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $226.00 price target on the stock. TD Cowen cut their price objective on Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a research report on Monday, November 3rd. Finally, Royal Bank Of Canada began coverage on Marsh & McLennan Companies in a report on Tuesday. They issued a “sector perform” rating and a $200.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $224.56.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 of the company’s stock, valued at $18,031,597.65. The trade was a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is currently owned by corporate 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.