Mackenzie Financial Corp Buys 14,723 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Mackenzie Financial Corp boosted its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.6% during the second quarter, Holdings Channel.com reports. The firm owned 421,855 shares of the financial services provider’s stock after acquiring an additional 14,723 shares during the quarter. Mackenzie Financial Corp’s holdings in Marsh & McLennan Companies were worth $88,893,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MMC. Gryphon Financial Partners LLC raised its holdings in shares of Marsh & McLennan Companies by 6.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,127 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 67 shares during the last quarter. TFO Wealth Partners LLC increased its position in Marsh & McLennan Companies by 143,600.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,874 shares of the financial services provider’s stock valued at $545,000 after acquiring an additional 2,872 shares during the last quarter. Avestar Capital LLC boosted its position in Marsh & McLennan Companies by 19.6% in the fourth quarter. Avestar Capital LLC now owns 2,395 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 393 shares during the last quarter. Evoke Wealth LLC lifted its stake in shares of Marsh & McLennan Companies by 4.4% in the 4th quarter. Evoke Wealth LLC now owns 1,258 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 53 shares during the period. Finally, Scotia Capital Inc. boosted its holdings in shares of Marsh & McLennan Companies by 4.1% in the fourth quarter. Scotia Capital Inc. now owns 76,999 shares of the financial services provider’s stock worth $14,589,000 after buying an additional 3,058 shares during the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MMC shares. JPMorgan Chase & Co. lifted their target price on Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Barclays started coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 price target for the company. Roth Mkm lifted their target price on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada raised their price target on Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Marsh & McLennan Companies presently has an average rating of “Hold” and an average price target of $215.53.

Marsh & McLennan Companies Trading Up 0.1 %

Shares of MMC opened at $223.94 on Friday. The firm has a market capitalization of $110.34 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 3.13 and a beta of 0.94. 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, Inc. has a 1-year low of $184.02 and a 1-year high of $232.32. The company has a 50-day moving average of $223.85 and a 200 day moving average of $212.98.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.01. The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.31 billion. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. Marsh & McLennan Companies’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 earnings per share. On average, research analysts expect that Marsh & McLennan Companies, Inc. will post 8.74 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

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

Insider Activity

In related news, VP Stacy Mills sold 4,101 shares of Marsh & McLennan Companies stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $225.77, for a total transaction of $925,882.77. Following the transaction, the vice president now directly owns 2,923 shares of the company’s stock, valued at $659,925.71. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Paul Beswick sold 2,169 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $477,180.00. Following the completion of the sale, the senior vice president now owns 11,861 shares in the company, valued at approximately $2,609,420. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Stacy Mills sold 4,101 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $225.77, for a total value of $925,882.77. Following the transaction, the vice president now directly owns 2,923 shares in the company, valued at $659,925.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,735 shares of company stock worth $4,897,317. 0.30% of the stock is currently owned by corporate insiders.

About Marsh & McLennan Companies

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.