Algert Global LLC Invests $3.35 Million in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Algert Global LLC acquired a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) in the 3rd quarter, HoldingsChannel reports. The firm acquired 15,029 shares of the financial services provider’s stock, valued at approximately $3,353,000.

Other hedge funds have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. grew its position in Marsh & McLennan Companies by 22.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,201 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 591 shares during the period. Tidal Investments LLC increased its position in shares of Marsh & McLennan Companies by 38.2% during the 1st quarter. Tidal Investments LLC now owns 23,307 shares of the financial services provider’s stock worth $4,800,000 after purchasing an additional 6,443 shares during the last quarter. Beacon Capital Management LLC raised its holdings in Marsh & McLennan Companies by 22.1% in the 1st quarter. Beacon Capital Management LLC now owns 398 shares of the financial services provider’s stock valued at $82,000 after buying an additional 72 shares during the period. Plato Investment Management Ltd boosted its stake in Marsh & McLennan Companies by 827.5% during the first quarter. Plato Investment Management Ltd now owns 16,166 shares of the financial services provider’s stock worth $3,330,000 after buying an additional 14,423 shares during the period. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Marsh & McLennan Companies during the first quarter valued at about $187,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Up 1.3 %

MMC opened at $230.71 on Tuesday. The business’s 50-day simple moving average is $223.66 and its 200-day simple moving average is $219.11. The stock has a market capitalization of $113.31 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 3.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a one year low of $184.28 and a one year high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.57 EPS. Analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were issued a $0.815 dividend. This represents a $3.26 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, October 4th. Marsh & McLennan Companies’s payout ratio is 40.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MMC. Wells Fargo & Company lowered their price objective on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. UBS Group lifted their price objective on Marsh & McLennan Companies from $255.00 to $259.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group increased their target price on Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Roth Mkm lifted their target price on Marsh & McLennan Companies from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Evercore ISI reissued an “outperform” rating and issued a $242.00 price objective on shares of Marsh & McLennan Companies in a research note on Monday. Two research 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. Based on data from MarketBeat, Marsh & McLennan Companies presently has an average rating of “Hold” and an average price target of $227.60.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total value of $553,875.00. Following the transaction, the director now directly owns 48,549 shares in the company, valued at approximately $10,756,030.95. This represents a 4.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

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.