Truist Financial Corp Raises Stock Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Truist Financial Corp increased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 93.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 761,974 shares of the financial services provider’s stock after acquiring an additional 368,970 shares during the quarter. Truist Financial Corp owned about 0.15% of Marsh & McLennan Companies worth $160,563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMC. EP Wealth Advisors LLC grew its stake in Marsh & McLennan Companies by 41.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 2,351 shares of the financial services provider’s stock worth $495,000 after buying an additional 693 shares during the last quarter. Kimelman & Baird LLC purchased a new position in shares of Marsh & McLennan Companies during the second quarter worth approximately $2,717,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of Marsh & McLennan Companies by 40.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 4,489 shares of the financial services provider’s stock valued at $946,000 after acquiring an additional 1,288 shares during the period. Granite FO LLC acquired a new stake in Marsh & McLennan Companies during the 2nd quarter worth $253,000. Finally, NewEdge Advisors LLC grew its position in Marsh & McLennan Companies by 29.0% during the 2nd quarter. NewEdge Advisors LLC now owns 31,492 shares of the financial services provider’s stock worth $6,636,000 after purchasing an additional 7,075 shares during the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, SVP Paul Beswick sold 2,169 shares of Marsh & McLennan Companies stock in a transaction dated 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 sale, the senior vice president now directly owns 11,861 shares in the company, valued at $2,609,420. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Paul Beswick sold 2,169 shares of the company’s 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 in the company, valued at approximately $2,609,420. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark C. Mcgivney sold 5,200 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were 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 approximately $7,578,560.34. The disclosure for this sale can be found here. Insiders have sold 21,735 shares of company stock worth $4,897,317 over the last three months. 0.30% of the stock is currently owned by corporate insiders.

Marsh & McLennan Companies Stock Down 0.4 %

MMC opened at $223.09 on Tuesday. Marsh & McLennan Companies, Inc. has a one year low of $184.02 and a one year high of $232.32. The company has a market cap of $109.92 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 3.13 and a beta of 0.94. The business’s fifty day moving average is $223.93 and its two-hundred day moving average is $213.16. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.17 and a current ratio of 1.17.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, July 18th. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 16.97% and a return on equity of 33.92%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. Analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.74 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

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

Marsh & McLennan Companies Company 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.