Destination Wealth Management Increases Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Destination Wealth Management lifted its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 10.6% during the 4th quarter, Holdings Channel reports. The firm owned 1,282 shares of the financial services provider’s stock after buying an additional 123 shares during the period. Destination Wealth Management’s holdings in Marsh & McLennan Companies were worth $272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new position in Marsh & McLennan Companies in the 3rd quarter valued at approximately $31,000. Financial Life Planners purchased a new position in Marsh & McLennan Companies in the fourth quarter valued at $33,000. Sierra Ocean LLC acquired a new position in Marsh & McLennan Companies during the 4th quarter worth $36,000. Albion Financial Group UT acquired a new stake in Marsh & McLennan Companies in the 4th quarter valued at about $38,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Marsh & McLennan Companies in the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Down 0.4 %

MMC stock opened at $235.40 on Friday. Marsh & McLennan Companies, Inc. has a 12 month low of $196.17 and a 12 month 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 company has a market cap of $115.61 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 2.70 and a beta of 0.95. The company has a fifty day moving average price of $222.83 and a 200 day moving average price of $223.36.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share for the quarter, topping 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 year.

Marsh & McLennan Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, January 30th were issued a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, January 30th. Marsh & McLennan Companies’s payout ratio is currently 39.80%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays raised their target price on shares of Marsh & McLennan Companies from $236.00 to $246.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Wells Fargo & Company lifted their price objective on shares of Marsh & McLennan Companies from $212.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Royal Bank of Canada upgraded Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $242.00 to $250.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. upped their price objective on Marsh & McLennan Companies from $230.00 to $235.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Finally, Raymond James restated an “outperform” rating and set a $250.00 target price (up previously from $240.00) on shares of Marsh & McLennan Companies in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $230.44.

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.