Legacy Advisors LLC Invests $1.58 Million in Marsh & McLennan Companies, Inc. (MMC) Stock

Legacy Advisors LLC acquired a new stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) in the third quarter, HoldingsChannel reports. The institutional investor acquired 19,128 shares of the financial services provider’s stock, valued at approximately $1,582,000.

A number of other large investors have also made changes to their positions in MMC. Jane Street Group LLC grew its stake in shares of Marsh & McLennan Companies by 358.7% during the 1st quarter. Jane Street Group LLC now owns 18,172 shares of the financial services provider’s stock worth $1,501,000 after acquiring an additional 14,210 shares during the period. Mariner LLC grew its stake in shares of Marsh & McLennan Companies by 123.2% during the 1st quarter. Mariner LLC now owns 5,551 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 3,064 shares during the period. Verition Fund Management LLC bought a new position in shares of Marsh & McLennan Companies during the 1st quarter worth $285,000. Atlantic Trust Group LLC grew its stake in shares of Marsh & McLennan Companies by 1.2% during the 1st quarter. Atlantic Trust Group LLC now owns 74,012 shares of the financial services provider’s stock worth $6,113,000 after acquiring an additional 903 shares during the period. Finally, McKinley Carter Wealth Services Inc. bought a new position in shares of Marsh & McLennan Companies during the 1st quarter worth $127,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Several research analysts have recently weighed in on MMC shares. Citigroup cut their price target on Marsh & McLennan Companies from $100.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, September 20th. Zacks Investment Research downgraded Marsh & McLennan Companies from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Raymond James downgraded Marsh & McLennan Companies from an “outperform” rating to an “underperform” rating in a research note on Tuesday, September 25th. Wells Fargo & Co reiterated a “sell” rating on shares of Marsh & McLennan Companies in a research note on Monday, October 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $90.00 price target on shares of Marsh & McLennan Companies in a research note on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $92.27.

MMC traded down $0.86 during trading on Thursday, reaching $80.05. 1,053,600 shares of the company were exchanged, compared to its average volume of 1,864,588. The stock has a market capitalization of $41.77 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.46 and a current ratio of 1.46. Marsh & McLennan Companies, Inc. has a 12-month low of $78.60 and a 12-month high of $87.89.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Marsh & McLennan Companies had a return on equity of 29.26% and a net margin of 11.13%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company posted $1.00 EPS. On average, research analysts forecast that Marsh & McLennan Companies, Inc. will post 4.3 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 11th will be issued a dividend of $0.415 per share. The ex-dividend date is Wednesday, October 10th. This represents a $1.66 dividend on an annualized basis and a yield of 2.07%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 42.35%.

In related news, SVP E Scott Gilbert sold 80,646 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $84.64, for a total transaction of $6,825,877.44. Following the sale, the senior vice president now owns 123,843 shares of the company’s stock, valued at approximately $10,482,071.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.16% of the company’s stock.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc, a professional services firm, provides advice and solutions in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services, and Consulting. 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, reinsurance broking, catastrophe and financial modeling, and related advisory services.

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Institutional Ownership by Quarter for Marsh & McLennan Companies (NYSE:MMC)

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