DRW Securities LLC Purchases Shares of 16,056 Marsh & McLennan Companies, Inc. (NYSE:MMC)

DRW Securities LLC acquired a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,056 shares of the financial services provider’s stock, valued at approximately $3,388,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MMC. Price T Rowe Associates Inc. MD lifted its stake in Marsh & McLennan Companies by 32.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,243,245 shares of the financial services provider’s stock valued at $1,940,789,000 after acquiring an additional 2,526,701 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in 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 valued at $146,047,000 after purchasing an additional 679,474 shares during the last quarter. Jennison Associates LLC grew its holdings in 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 worth $192,066,000 after purchasing an additional 649,505 shares during the period. M&G Plc bought a new stake in Marsh & McLennan Companies in the first quarter valued at approximately $118,353,000. Finally, Bristol Gate Capital Partners Inc. acquired a new stake in shares of Marsh & McLennan Companies in the first quarter valued at approximately $95,139,000. 87.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target 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. Barclays began 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 objective on the stock. Roth Mkm upped their price target 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 objective on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Marsh & McLennan Companies presently has an average rating of “Hold” and an average target price of $215.53.

Marsh & McLennan Companies Price Performance

MMC stock opened at $223.55 on Friday. The company’s 50-day moving average price is $223.30 and its two-hundred day moving average price is $212.37. Marsh & McLennan Companies, Inc. has a 12 month low of $184.02 and a 12 month high of $232.32. 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 $110.15 billion, a P/E ratio of 28.37, a P/E/G ratio of 3.20 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data 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 business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.31 billion. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 earnings per share. On average, analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.74 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

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 paid 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 the company’s 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 completion of the transaction, the vice president now directly owns 2,923 shares in the company, valued at approximately $659,925.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Stacy Mills sold 4,101 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $225.77, for a total transaction of $925,882.77. Following the sale, the vice president now owns 2,923 shares of the company’s stock, valued at approximately $659,925.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark C. Mcgivney sold 10,265 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at approximately $7,625,035.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,735 shares of company stock worth $4,897,317. Corporate 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.