Summit Financial LLC Acquires 370 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Summit Financial LLC increased its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,024 shares of the financial services provider’s stock after buying an additional 370 shares during the period. Summit Financial LLC’s holdings in Marsh & McLennan Companies were worth $2,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Kestra Investment Management LLC purchased a new stake in shares of Marsh & McLennan Companies during the 3rd quarter worth $725,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Marsh & McLennan Companies by 1,634.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,023 shares of the financial services provider’s stock worth $897,000 after purchasing an additional 3,791 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Marsh & McLennan Companies by 453.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 21,570 shares of the financial services provider’s stock valued at $4,813,000 after buying an additional 17,670 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Marsh & McLennan Companies in the 3rd quarter worth approximately $1,940,000. Finally, Hilltop Holdings Inc. lifted its position in Marsh & McLennan Companies by 140.9% during the third quarter. Hilltop Holdings Inc. now owns 8,396 shares of the financial services provider’s stock valued at $1,873,000 after acquiring an additional 4,911 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

NYSE:MMC opened at $243.95 on Tuesday. The stock has a market capitalization of $119.81 billion, a PE ratio of 29.79, a P/E/G ratio of 2.70 and a beta of 0.95. The company has a fifty day moving average of $230.22 and a two-hundred day moving average of $224.18. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.17 and a fifty-two week high of $245.98.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 3rd will be given a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 39.80%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MMC shares. Redburn Atlantic began coverage on Marsh & McLennan Companies in a research report on Tuesday, March 25th. They set a “buy” rating and a $281.00 target price on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of Marsh & McLennan Companies from $230.00 to $235.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. 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 research note on Thursday, February 6th. Finally, Wells Fargo & Company upped their target price on 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $233.41.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO Nicholas Mark Studer sold 49,390 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $230.16, for a total value of $11,367,602.40. Following the transaction, the chief executive officer now directly owns 28,329 shares in the company, valued at $6,520,202.64. The trade was a 63.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Stacy Mills sold 1,317 shares of Marsh & McLennan Companies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $234.97, for a total transaction of $309,455.49. Following the sale, the vice president now directly owns 2,923 shares in the company, valued at approximately $686,817.31. The trade was a 31.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,828 shares of company stock worth $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.