Legal & General Group Plc Buys 223,257 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Legal & General Group Plc increased its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,530,716 shares of the financial services provider’s stock after buying an additional 223,257 shares during the period. Legal & General Group Plc owned 0.92% of Marsh & McLennan Companies worth $954,712,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Indiana Trust & Investment Management CO acquired a new position in shares of Marsh & McLennan Companies during the first quarter worth approximately $25,000. Headlands Technologies LLC acquired a new position in Marsh & McLennan Companies during the first quarter worth $27,000. Clear Investment Research LLC bought a new position in shares of Marsh & McLennan Companies in the fourth quarter valued at $33,000. Crewe Advisors LLC increased its position in shares of Marsh & McLennan Companies by 100.0% during the second quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 80 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Marsh & McLennan Companies in the 1st quarter worth about $35,000. 87.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Mark C. Mcgivney sold 10,265 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares in the company, valued at approximately $7,625,035.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 transaction of $925,882.77. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark C. Mcgivney sold 10,265 shares of the firm’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 sale, the chief financial officer now directly owns 33,678 shares in the company, valued at $7,625,035.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,735 shares of company stock valued at $4,897,317. 0.30% of the stock is currently owned by insiders.

Marsh & McLennan Companies Price Performance

MMC opened at $223.80 on Friday. The stock has a market capitalization of $110.27 billion, a P/E ratio of 28.40, a PEG ratio of 3.13 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.91. Marsh & McLennan Companies, Inc. has a 12-month low of $184.02 and a 12-month high of $232.32. The stock has a 50-day moving average price of $223.71 and a 200-day moving average price of $212.85.

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

Marsh & McLennan Companies Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.