Marsh & McLennan Companies, Inc. (NYSE:MMC) Stake Lifted by Carnegie Capital Asset Management LLC

by · The Cerbat Gem

Carnegie Capital Asset Management LLC increased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) by 16.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,816 shares of the financial services provider’s stock after buying an additional 11,615 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Marsh & McLennan Companies were worth $15,379,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Marsh & McLennan Companies by 103,259.3% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 74,945,836 shares of the financial services provider’s stock valued at $14,095,813,000 after buying an additional 74,873,326 shares during the period. Moneta Group Investment Advisors LLC raised its position in Marsh & McLennan Companies by 105,777.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,772,516 shares of the financial services provider’s stock valued at $1,617,156,000 after buying an additional 9,763,286 shares during the period. Norges Bank acquired a new position in Marsh & McLennan Companies during the fourth quarter valued at $659,049,000. Morgan Stanley raised its position in Marsh & McLennan Companies by 49.2% during the fourth quarter. Morgan Stanley now owns 6,293,827 shares of the financial services provider’s stock valued at $1,041,503,000 after buying an additional 2,075,928 shares during the period. Finally, Alphinity Investment Management Pty Ltd acquired a new position in Marsh & McLennan Companies in the 2nd quarter worth about $303,203,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MMC. Jefferies Financial Group upped their target price on Marsh & McLennan Companies from $196.00 to $209.00 and gave the stock a “hold” rating in a research report on Friday, October 6th. Royal Bank of Canada increased their target price on Marsh & McLennan Companies from $195.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, October 20th. Raymond James raised their price objective on Marsh & McLennan Companies from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Keefe, Bruyette & Woods downgraded Marsh & McLennan Companies from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $198.00 to $192.00 in a research report on Friday. Finally, Citigroup raised their target price on Marsh & McLennan Companies from $201.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $200.71.

View Our Latest Research Report on MMC

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CMO John Jude Jones sold 4,908 shares of Marsh & McLennan Companies stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $193.08, for a total transaction of $947,636.64. Following the transaction, the chief marketing officer now directly owns 7,978 shares in the company, valued at $1,540,392.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Stock Down 2.2 %

NYSE MMC opened at $187.12 on Friday. The stock has a fifty day moving average of $194.57 and a 200-day moving average of $190.73. The stock has a market capitalization of $92.26 billion, a P/E ratio of 26.96, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. Marsh & McLennan Companies, Inc. has a 52 week low of $151.86 and a 52 week high of $202.81. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.08 and a current ratio of 1.08.

Marsh & McLennan Companies (NYSE:MMC – Get Free Report) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.18. Marsh & McLennan Companies had a return on equity of 34.01% and a net margin of 15.61%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company earned $1.18 EPS. The firm’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 7.93 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 6th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.84 annualized dividend and a yield of 1.52%. Marsh & McLennan Companies’s dividend payout ratio is presently 40.92%.

Marsh & McLennan Companies Company Profile

(Free Report)

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 in two segments, Risk and Insurance Services, and Consulting. 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.

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