Mawer Investment Management Ltd. increased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,778,265 shares of the financial services provider’s stock after buying an additional 16,742 shares during the period. Marsh & McLennan Companies accounts for about 1.9% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 18th biggest holding. Mawer Investment Management Ltd. owned approximately 0.55% of Marsh & McLennan Companies worth $226,463,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new stake in Marsh & McLennan Companies in the fourth quarter valued at approximately $102,000. Invictus RG bought a new stake in Marsh & McLennan Companies in the third quarter valued at approximately $106,000. Legacy Advisors LLC increased its stake in Marsh & McLennan Companies by 1,558.8% in the fourth quarter. Legacy Advisors LLC now owns 1,327 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 1,247 shares in the last quarter. San Francisco Sentry Investment Group CA increased its stake in Marsh & McLennan Companies by 5,086.2% in the third quarter. San Francisco Sentry Investment Group CA now owns 1,504 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 1,475 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. bought a new stake in Marsh & McLennan Companies in the third quarter valued at approximately $131,000. 85.77% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on MMC. Zacks Investment Research downgraded shares of Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Goldman Sachs Group assumed coverage on shares of Marsh & McLennan Companies in a report on Monday, December 4th. They issued a “neutral” rating and a $88.00 price target for the company. Barclays upped their price target on shares of Marsh & McLennan Companies from $93.00 to $103.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Citigroup reduced their price target on shares of Marsh & McLennan Companies from $96.00 to $94.00 and set a “buy” rating for the company in a report on Friday, February 9th. Finally, Wells Fargo & Co reiterated a “buy” rating and issued a $91.00 price target on shares of Marsh & McLennan Companies in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $88.36.
Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, February 1st. The financial services provider reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.10. Marsh & McLennan Companies had a net margin of 10.64% and a return on equity of 28.80%. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. equities research analysts predict that Marsh & McLennan Companies, Inc. will post 4.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.79%. The ex-dividend date was Tuesday, January 30th. Marsh & McLennan Companies’s payout ratio is 40.00%.
In related news, SVP E Scott Gilbert sold 52,782 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $81.33, for a total transaction of $4,292,760.06. Following the completion of the transaction, the senior vice president now owns 95,979 shares in the company, valued at $7,805,972.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter J. Beshar sold 10,567 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $81.75, for a total transaction of $863,852.25. Following the transaction, the executive vice president now owns 240,857 shares of the company’s stock, valued at approximately $19,690,059.75. The disclosure for this sale can be found here. Insiders have sold 769,412 shares of company stock valued at $63,611,788 in the last 90 days. 1.46% of the stock is currently owned by corporate insiders.
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Marsh & McLennan Companies Company Profile
Marsh & McLennan Companies, Inc is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy.
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