Savior LLC acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC) during the fourth quarter, HoldingsChannel reports. The fund acquired 270 shares of the financial services provider’s stock, valued at approximately $30,000.
Other institutional investors have also bought and sold shares of the company. Gradient Investments LLC acquired a new position in Marsh & McLennan Companies in the third quarter worth $34,000. Thor Advisors LLC acquired a new position in Marsh & McLennan Companies in the third quarter worth $52,000. Manchester Financial Inc. acquired a new position in Marsh & McLennan Companies in the fourth quarter worth $74,000. Contravisory Investment Management Inc. boosted its stake in Marsh & McLennan Companies by 16.2% in the third quarter. Contravisory Investment Management Inc. now owns 866 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 121 shares in the last quarter. Finally, Quest Capital Management Inc. ADV acquired a new position in Marsh & McLennan Companies in the third quarter worth $112,000. 87.08% of the stock is currently owned by institutional investors.
A number of research firms have commented on MMC. Raymond James raised Marsh & McLennan Companies from an “underperform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research note on Monday, November 18th. Wells Fargo & Co reissued a “hold” rating and issued a $95.00 price objective on shares of Marsh & McLennan Companies in a research note on Tuesday, October 29th. Finally, Citigroup began coverage on Marsh & McLennan Companies in a research note on Tuesday. They issued a “buy” rating and a $130.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $106.00.
MMC stock opened at $114.23 on Friday. The company has a market cap of $57.34 billion, a P/E ratio of 38.85, a PEG ratio of 1.82 and a beta of 0.76. Marsh & McLennan Companies, Inc. has a twelve month low of $82.10 and a twelve month high of $114.56. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.47. The business has a fifty day moving average of $111.54 and a 200-day moving average of $103.54.
Marsh & McLennan Companies (NYSE:MMC) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4 billion. Marsh & McLennan Companies had a return on equity of 29.40% and a net margin of 9.34%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 4.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 29th will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.59%. Marsh & McLennan Companies’s payout ratio is currently 41.84%.
Marsh & McLennan Companies announced that its board has authorized a share repurchase program on Thursday, November 21st that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Marsh & McLennan Companies 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.
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