Drive Wealth Management LLC Raises Shares in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Drive Wealth Management LLC increased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,382 shares of the financial services provider’s stock after buying an additional 49 shares during the period. Drive Wealth Management LLC’s holdings in Marsh & McLennan Companies were worth $291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have recently added to or reduced their stakes in MMC. Ritholtz Wealth Management boosted its position in shares of Marsh & McLennan Companies by 0.6% in the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock worth $1,887,000 after purchasing an additional 51 shares during the period. Waldron Private Wealth LLC boosted its stake in Marsh & McLennan Companies by 2.8% in the second quarter. Waldron Private Wealth LLC now owns 3,193 shares of the financial services provider’s stock worth $673,000 after purchasing an additional 87 shares during the last quarter. Summit Financial LLC boosted its holdings in Marsh & McLennan Companies by 72.4% in the second quarter. Summit Financial LLC now owns 12,398 shares of the financial services provider’s stock worth $2,612,000 after acquiring an additional 5,206 shares during the period. Essex Financial Services Inc. lifted its position in shares of Marsh & McLennan Companies by 173.3% in the second quarter. Essex Financial Services Inc. now owns 6,769 shares of the financial services provider’s stock valued at $1,426,000 after purchasing an additional 4,292 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC grew its position in shares of Marsh & McLennan Companies by 9.7% in the second quarter. Turtle Creek Wealth Advisors LLC now owns 1,802 shares of the financial services provider’s stock worth $380,000 after buying an additional 159 shares in the last quarter. 87.99% of shares are held by hedge funds and other institutional investors.

Price performance of Marsh & McLennan companies

Shares of Marsh & McLennan Companies stock opened at $227.51 on Monday. The stock has a 50-day moving average price of $218.71 and a 200-day moving average price of $209.65. Marsh & McLennan Companies, Inc. it has a one year low of $184.02 and a one year high of $228.47. The stock has a market cap of $112.10 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 3.17 and a beta of 0.94. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.17, and a current ratio of 1.17.

Marsh & McLennan Companies (NYSE:MMC – Get Your Free Report ) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.01. The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.31 billion. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. The company’s revenue was up 5.9% compared to the same quarter last year. In the same quarter last year, the business posted earnings of $2.20 per share. Equities analysts expect that Marsh & McLennan Companies, Inc. to post 8.74 EPS for the current year.

Marsh & McLennan Companies Increases Dividends

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a $0.815 dividend. The ex-dividend date was Thursday, July 25. This represents an annualized dividend of $3.26 and a yield of 1.43%. This is an increase from Marsh & McLennan Companies’ previous quarterly dividend of $0.71. Marsh & McLennan Companies’ dividend payout ratio (DPR) is currently 41.37%.

Changes in Analyst Ratings

Several research analysts have weighed in on MMC shares. Roth Mkm upped their target price on Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. boosted their target price on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Royal Bank of Canada boosted their price objective on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Finally, Bank of America raised their target price on Marsh & McLennan Companies from $223.00 to $233.00 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $214.25, according to MarketBeat.

Check out our latest report on MMC

Insider Buying and Selling at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $209.01, for a total transaction of $1,254,060.00. Following the completion of the sale, the director now directly owns 53,393 shares of the company’s stock, valued at approximately $11,159,670.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In other news, Director Oscar Fanjul sold 6,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $209.01, for a total value of $1,254,060.00. Following the transaction, the director now directly owns 53,393 shares in the company, valued at $11,159,670.93. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, CFO Mark C. Mcgivney sold 10,265 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were 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 of the company’s stock, valued at $7,625,035.98. The disclosure for this sale can be found here. Insiders have sold 27,735 shares of company stock worth $6,151,377 over the last 90 days. Company insiders hold 0.30% of the company’s shares.

Marsh & McLennan Companies Company Profile

(Free report)

Marsh & McLennan Companies, Inc, a professional services firm, provides advice and solutions to clients in the areas of risk, strategy and people worldwide. It operates through the risk and insurance services and consulting segments. The Risk and Insurance Services segment provides risk management services such as risk advisory, risk transfer and risk control and mitigation solutions, as well as insurance and reinsurance brokerage, strategic advisory services and analytics solutions, as well as insurance program management services.

Further reading

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