Broadway Wealth Solutions Inc. Takes Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Broadway Wealth Solutions Inc. bought a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,107 shares of the financial services provider’s stock, valued at approximately $1,085,000. Marsh & McLennan Companies accounts for approximately 0.8% of Broadway Wealth Solutions Inc.’s holdings, making the stock its 17th largest position.

A number of other hedge funds have also made changes to their positions in MMC. Financial Life Planners acquired a new position in shares of Marsh & McLennan Companies in the 4th quarter worth $33,000. Sierra Ocean LLC acquired a new position in shares of Marsh & McLennan Companies in the fourth quarter worth about $36,000. Albion Financial Group UT acquired a new stake in shares of Marsh & McLennan Companies during the fourth quarter valued at approximately $38,000. Golden State Wealth Management LLC acquired a new position in Marsh & McLennan Companies in the 4th quarter worth approximately $41,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in Marsh & McLennan Companies during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Up 2.1 %

Marsh & McLennan Companies stock opened at $243.77 on Friday. The firm has a market cap of $119.72 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 2.70 and a beta of 0.95. The firm has a fifty day moving average price of $229.10 and a two-hundred day moving average price of $224.08. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.17 and a fifty-two week high of $243.89.

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

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 3rd will be paid a $0.815 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $3.26 annualized dividend and a dividend yield of 1.34%. Marsh & McLennan Companies’s dividend payout ratio is presently 39.80%.

Analysts Set New Price Targets

MMC has been the topic of several recent analyst reports. Royal Bank of Canada raised Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $242.00 to $250.00 in a research report on Thursday, December 12th. Keefe, Bruyette & Woods lowered their price objective on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company lifted 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 note on Friday, January 31st. Raymond James reiterated an “outperform” rating and set a $250.00 price objective (up from $240.00) on shares of Marsh & McLennan Companies in a report on Thursday, February 6th. Finally, Redburn Atlantic initiated coverage on Marsh & McLennan Companies in a research report on Tuesday. They issued a “buy” rating and a $281.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of “Hold” and an average price target of $233.41.

Insider Transactions at Marsh & McLennan Companies

In other news, CEO Nicholas Mark Studer sold 49,390 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $230.16, for a total transaction of $11,367,602.40. Following the sale, the chief executive officer now owns 28,329 shares in the company, valued at approximately $6,520,202.64. This represents a 63.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stacy Mills sold 1,317 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $234.97, for a total transaction of $309,455.49. Following the completion of the transaction, the vice president now directly owns 2,923 shares of the company’s stock, valued at approximately $686,817.31. This represents a 31.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,828 shares of company stock valued at $13,350,279. 0.30% of the stock is owned by insiders.

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.