Freedom Investment Management Inc. Grows Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Freedom Investment Management Inc. boosted its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,380 shares of the financial services provider’s stock after purchasing an additional 298 shares during the period. Freedom Investment Management Inc.’s holdings in Marsh & McLennan Companies were worth $1,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MMC. Fortitude Family Office LLC grew its holdings in Marsh & McLennan Companies by 18.8% during the third quarter. Fortitude Family Office LLC now owns 285 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 45 shares during the period. Kingfisher Capital LLC increased its holdings in shares of Marsh & McLennan Companies by 4.7% during the 2nd quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 47 shares in the last quarter. Drive Wealth Management LLC lifted its stake in shares of Marsh & McLennan Companies by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 49 shares during the period. Legacy Financial Advisors Inc. grew its position in Marsh & McLennan Companies by 2.3% during the second quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock valued at $468,000 after buying an additional 49 shares during the period. Finally, Ritholtz Wealth Management increased its holdings in 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 valued at $1,887,000 after buying an additional 51 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MMC shares. Bank of America raised their target price on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Barclays boosted their price objective on Marsh & McLennan Companies from $236.00 to $246.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Roth Mkm increased their target price on Marsh & McLennan Companies from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company reduced their price objective on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. Finally, BMO Capital Markets boosted their target price on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $227.60.

Insider Activity at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 2,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total value of $553,875.00. Following the sale, the director now directly owns 48,549 shares in the company, valued at approximately $10,756,030.95. The trade was a 4.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by insiders.

Marsh & McLennan Companies Price Performance

MMC stock opened at $233.23 on Thursday. Marsh & McLennan Companies, Inc. has a 1 year low of $184.28 and a 1 year high of $235.21. The firm has a market capitalization of $114.54 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. The business has a 50 day simple moving average of $223.89 and a 200-day simple moving average of $219.40.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, topping the consensus estimate of $1.61 by $0.02. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the firm earned $1.57 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.68 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were issued a dividend of $0.815 per share. The ex-dividend date was Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.40%. Marsh & McLennan Companies’s dividend payout ratio is currently 40.15%.

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 through Risk and Insurance Services, and Consulting segments. 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 and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.