Prestige Wealth Management Group LLC Has $306,000 Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Prestige Wealth Management Group LLC increased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,442 shares of the financial services provider’s stock after acquiring an additional 73 shares during the period. Prestige Wealth Management Group LLC’s holdings in Marsh & McLennan Companies were worth $306,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC bought a new position in shares of Marsh & McLennan Companies in the third quarter valued at approximately $209,000. Algert Global LLC bought a new stake in Marsh & McLennan Companies during the 3rd quarter worth about $3,353,000. Harvest Fund Management Co. Ltd increased its position in Marsh & McLennan Companies by 252.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 2,144 shares of the financial services provider’s stock valued at $478,000 after acquiring an additional 1,535 shares in the last quarter. Associated Banc Corp bought a new position in shares of Marsh & McLennan Companies in the third quarter worth about $232,000. Finally, Qsemble Capital Management LP grew its stake in shares of Marsh & McLennan Companies by 53.2% during the third quarter. Qsemble Capital Management LP now owns 6,197 shares of the financial services provider’s stock valued at $1,382,000 after purchasing an additional 2,152 shares during the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MMC. Raymond James restated an “outperform” rating and issued a $250.00 price objective (up previously from $240.00) on shares of Marsh & McLennan Companies in a research report on Thursday, February 6th. Redburn Atlantic started coverage on Marsh & McLennan Companies in a research note on Tuesday. They set a “buy” rating and a $281.00 price target on the stock. Keefe, Bruyette & Woods lowered their price objective on Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company upped their target price on shares of Marsh & McLennan Companies from $212.00 to $223.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada raised shares of Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $242.00 to $250.00 in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Marsh & McLennan Companies has a consensus rating of “Hold” and a consensus target price of $233.41.

Insider Transactions at Marsh & McLennan Companies

In other news, CEO Dean Michael Klisura sold 7,121 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $234.97, for a total transaction of $1,673,221.37. Following the completion of the transaction, the chief executive officer now directly owns 20,935 shares in the company, valued at $4,919,096.95. This represents a 25.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Stacy Mills sold 1,317 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $234.97, for a total value of $309,455.49. Following the transaction, the vice president now directly owns 2,923 shares of the company’s stock, valued at $686,817.31. This trade represents a 31.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,828 shares of company stock valued at $13,350,279 over the last three months. Company insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Trading Up 0.9 %

NYSE:MMC opened at $236.78 on Wednesday. The business’s 50-day simple moving average is $228.03 and its 200-day simple moving average is $223.84. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.17 and a fifty-two week high of $241.84. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $116.29 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 2.70 and a beta of 0.95.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.12. Marsh & McLennan Companies had a net margin of 16.60% and a return on equity of 32.60%. Sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 3rd will be issued a $0.815 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.38%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 39.80%.

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.