Allspring Global Investments Holdings LLC Raises Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Allspring Global Investments Holdings LLC raised its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.4% in the third quarter, Holdings Channel.com reports. The fund owned 147,708 shares of the financial services provider’s stock after buying an additional 2,068 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Marsh & McLennan Companies were worth $32,952,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in shares of Marsh & McLennan Companies by 4,991.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider’s stock worth $146,047,000 after acquiring an additional 679,474 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Marsh & McLennan Companies by 229.6% during the first quarter. Jennison Associates LLC now owns 932,452 shares of the financial services provider’s stock valued at $192,066,000 after buying an additional 649,505 shares during the last quarter. M&G Plc acquired a new position in shares of Marsh & McLennan Companies during the first quarter worth approximately $118,353,000. Bristol Gate Capital Partners Inc. acquired a new stake in Marsh & McLennan Companies in the 1st quarter valued at approximately $95,139,000. Finally, SG Americas Securities LLC raised its stake in Marsh & McLennan Companies by 2,623.1% during the 1st quarter. SG Americas Securities LLC now owns 467,891 shares of the financial services provider’s stock valued at $96,376,000 after acquiring an additional 450,709 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $223.49 on Thursday. The stock has a market cap of $110.12 billion, a P/E ratio of 28.36, a P/E/G ratio of 3.58 and a beta of 0.94. The company has a fifty day moving average price of $225.51 and a two-hundred day moving average price of $215.39. Marsh & McLennan Companies, Inc. has a one year low of $184.02 and a one year high of $232.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.17 and a quick ratio of 1.17.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the business earned $1.57 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 8.73 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio is currently 41.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MMC. Jefferies Financial Group lifted their price objective on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods increased their price objective on Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a report on Tuesday. BMO Capital Markets boosted their price target on Marsh & McLennan Companies from $217.00 to $228.00 and gave the stock a “market perform” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company reduced their price objective on Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $225.33.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, CFO Mark C. Mcgivney sold 10,265 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $226.41, for a total value of $2,324,098.65. Following the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at $7,625,035.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Mark C. Mcgivney sold 5,200 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $225.03, for a total value of $1,170,156.00. Following the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at $7,578,560.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark C. Mcgivney sold 10,265 shares of Marsh & McLennan Companies stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $226.41, for a total value of $2,324,098.65. Following the completion of the sale, the chief financial officer now owns 33,678 shares in the company, valued at approximately $7,625,035.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,566 shares of company stock valued at $4,420,137 in the last quarter. Company insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Profile

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 through Risk and Insurance Services, and Consulting segments. 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.