Marsh & McLennan Companies, Inc. (MMC) Position Raised by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC increased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,521 shares of the financial services provider’s stock after purchasing an additional 281 shares during the period. HighPoint Advisor Group LLC’s holdings in Marsh & McLennan Companies were worth $981,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund grew its stake in Marsh & McLennan Companies by 7,364.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,053,539 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 8,932,244 shares during the period. Norges Bank acquired a new stake in Marsh & McLennan Companies in the fourth quarter valued at approximately $330,042,000. BlackRock Inc. grew its stake in Marsh & McLennan Companies by 7.0% in the fourth quarter. BlackRock Inc. now owns 42,432,232 shares of the financial services provider’s stock valued at $3,383,971,000 after acquiring an additional 2,758,761 shares during the period. Alleghany Corp DE acquired a new stake in Marsh & McLennan Companies in the fourth quarter valued at approximately $79,750,000. Finally, California Public Employees Retirement System grew its stake in Marsh & McLennan Companies by 41.3% in the fourth quarter. California Public Employees Retirement System now owns 2,669,856 shares of the financial services provider’s stock valued at $212,921,000 after acquiring an additional 780,094 shares during the period. 86.60% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on MMC. Citigroup set a $99.00 price objective on Marsh & McLennan Companies and gave the company a “buy” rating in a research note on Saturday, February 2nd. ValuEngine raised Marsh & McLennan Companies from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Goldman Sachs Group began coverage on Marsh & McLennan Companies in a research note on Monday, April 8th. They issued a “neutral” rating and a $98.00 price objective for the company. Zacks Investment Research cut Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $95.00 price objective on shares of Marsh & McLennan Companies in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Marsh & McLennan Companies has a consensus rating of “Hold” and a consensus target price of $93.60.

Shares of NYSE:MMC opened at $95.90 on Tuesday. The company has a market cap of $48.59 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.76 and a beta of 0.86. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.21 and a current ratio of 2.21. Marsh & McLennan Companies, Inc. has a 12-month low of $74.30 and a 12-month high of $96.34.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, April 25th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.07. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.19 billion. Marsh & McLennan Companies had a return on equity of 29.72% and a net margin of 11.16%. Marsh & McLennan Companies’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 earnings per share. As a group, research analysts predict that Marsh & McLennan Companies, Inc. will post 4.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be given a dividend of $0.455 per share. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, July 10th. This represents a $1.82 annualized dividend and a dividend yield of 1.90%. Marsh & McLennan Companies’s payout ratio is presently 38.16%.

In related news, VP Stacy Mills sold 1,245 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $92.60, for a total transaction of $115,287.00. Following the transaction, the vice president now owns 2,923 shares of the company’s stock, valued at $270,669.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP E Scott Gilbert sold 12,677 shares of Marsh & McLennan Companies stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $92.77, for a total value of $1,176,045.29. Following the transaction, the senior vice president now directly owns 55,874 shares in the company, valued at approximately $5,183,430.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,691 shares of company stock worth $11,406,907. 1.16% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: This article was first published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this article on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this article can be viewed at https://www.baseballdailydigest.com/news/2019/05/21/marsh-mclennan-companies-inc-mmc-position-raised-by-highpoint-advisor-group-llc.html.

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 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; and insurance program management services.

Further Reading: Percentage Gainers

Want to see what other hedge funds are holding MMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MMC).

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

Receive News & Ratings for Marsh & McLennan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marsh & McLennan Companies and related companies with MarketBeat.com's FREE daily email newsletter.