New Century Financial Group LLC Makes New Investment in Marsh & McLennan Companies, Inc. (NYSE:MMC)

New Century Financial Group LLC purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) during the 2nd quarter, HoldingsChannel reports. The firm purchased 963 shares of the financial services provider’s stock, valued at approximately $203,000.

Other institutional investors have also made changes to their positions in the company. Indiana Trust & Investment Management CO bought a new position in Marsh & McLennan Companies in the 1st quarter worth approximately $25,000. Headlands Technologies LLC bought a new position in Marsh & McLennan Companies during the first quarter worth $27,000. Crewe Advisors LLC boosted its holdings in Marsh & McLennan Companies by 100.0% in the 2nd quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 80 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Marsh & McLennan Companies in the 1st quarter worth $35,000. Finally, Iron Horse Wealth Management LLC increased its holdings in shares of Marsh & McLennan Companies by 712.5% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 195 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 171 shares during the period. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Stock Up 0.1 %

Shares of NYSE:MMC opened at $223.08 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.91. The firm has a market cap of $109.92 billion, a P/E ratio of 28.31, a P/E/G ratio of 3.13 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 12 month low of $184.02 and a 12 month high of $232.32. The company’s 50-day moving average price is $224.12 and its two-hundred day moving average price is $213.35.

Marsh & McLennan Companies (NYSE:MMC) last released its earnings results on Thursday, July 18th. The financial services provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.40 by $0.01. The company had revenue of $6.22 billion during 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%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $2.20 EPS. As a group, research analysts forecast that Marsh & McLennan Companies, Inc. will post 8.74 EPS for the current fiscal 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 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio is presently 41.37%.

Analyst Ratings Changes

MMC has been the topic of several research reports. Bank of America boosted their price target on Marsh & McLennan Companies from $235.00 to $248.00 and gave the company a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Royal Bank of Canada boosted their price target on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Barclays initiated coverage on shares of Marsh & McLennan Companies in a report on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 price objective for the company. Finally, Roth Mkm upped 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. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Marsh & McLennan Companies has an average rating of “Hold” and an average price target of $216.41.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, SVP Paul Beswick sold 2,169 shares of Marsh & McLennan Companies 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 directly owns 11,861 shares of the company’s stock, valued at $2,609,420. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Paul Beswick sold 2,169 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $477,180.00. Following the completion of the transaction, the senior vice president now owns 11,861 shares in the company, valued at $2,609,420. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark C. Mcgivney sold 10,265 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at $7,625,035.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,735 shares of company stock worth $4,897,317. Insiders own 0.30% of the company’s stock.

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.