Tortoise Investment Management LLC Boosts Stock Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Tortoise Investment Management LLC lifted its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 30.2% in the fourth quarter, HoldingsChannel reports. The firm owned 556 shares of the financial services provider’s stock after purchasing an additional 129 shares during the quarter. Tortoise Investment Management LLC’s holdings in Marsh & McLennan Companies were worth $118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMC. Financial Life Planners purchased a new position in shares of Marsh & McLennan Companies in the fourth quarter valued at $33,000. Sierra Ocean LLC bought a new stake in Marsh & McLennan Companies in the fourth quarter worth $36,000. Albion Financial Group UT bought a new stake in Marsh & McLennan Companies in the fourth quarter worth $38,000. Capital Performance Advisors LLP bought a new stake in Marsh & McLennan Companies in the third quarter worth $41,000. Finally, Golden State Wealth Management LLC bought a new stake in Marsh & McLennan Companies in the fourth quarter worth $41,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MMC has been the subject of a number of analyst reports. Royal Bank of Canada upgraded Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $242.00 to $250.00 in a research report on Thursday, December 12th. Barclays raised their price target on Marsh & McLennan Companies from $236.00 to $246.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Raymond James restated an “outperform” rating and issued a $250.00 price target (up from $240.00) on shares of Marsh & McLennan Companies in a research report on Thursday, February 6th. Wells Fargo & Company lifted their target price on 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. Finally, JPMorgan Chase & Co. lifted their target price 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $230.44.

Marsh & McLennan Companies Price Performance

MMC opened at $235.87 on Tuesday. The business’s 50-day moving average is $223.31 and its two-hundred day moving average is $223.42. Marsh & McLennan Companies, Inc. has a 1 year low of $196.17 and a 1 year 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 firm has a market capitalization of $115.85 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 2.70 and a beta of 0.95.

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

Marsh & McLennan Companies Dividend Announcement

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

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.