BAM Wealth Management LLC Takes Position in Marsh & McLennan Companies, Inc. $MMC

BAM Wealth Management LLC acquired a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,428 shares of the financial services provider’s stock, valued at approximately $892,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Marsh & McLennan Companies by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock valued at $10,092,108,000 after acquiring an additional 837,117 shares during the last quarter. Geode Capital Management LLC raised its holdings in Marsh & McLennan Companies by 1.6% in the second quarter. Geode Capital Management LLC now owns 12,684,210 shares of the financial services provider’s stock worth $2,762,513,000 after purchasing an additional 196,475 shares during the period. Norges Bank bought a new position in shares of Marsh & McLennan Companies during the second quarter worth $1,328,587,000. Artisan Partners Limited Partnership grew its holdings in shares of Marsh & McLennan Companies by 0.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,443,454 shares of the financial services provider’s stock valued at $752,877,000 after buying an additional 32,118 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Marsh & McLennan Companies by 1.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,901,598 shares of the financial services provider’s stock worth $634,405,000 after buying an additional 43,462 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

NYSE MMC opened at $182.39 on Friday. The firm’s 50 day moving average is $183.69 and its 200-day moving average is $194.18. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $89.35 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. Marsh & McLennan Companies, Inc. has a 12-month low of $174.18 and a 12-month high of $248.00.

Marsh & McLennan Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 29th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, January 29th. Marsh & McLennan Companies’s dividend payout ratio is presently 43.17%.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $182.22, for a total value of $3,841,015.38. Following the completion of the transaction, the chief executive officer directly owned 87,681 shares in the company, valued at $15,977,231.82. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MMC. TD Cowen decreased their target price on Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Marsh & McLennan Companies in a research note on Friday, October 31st. Cantor Fitzgerald cut their price target on shares of Marsh & McLennan Companies from $226.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Evercore ISI lowered their price objective on shares of Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Marsh & McLennan Companies from $191.00 to $205.00 and gave the company a “market perform” rating in a research report on Tuesday, January 6th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $218.82.

About Marsh & McLennan Companies

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.