OneAscent Financial Services LLC Makes New Investment in Marsh & McLennan Companies, Inc. (NYSE:MMC)

OneAscent Financial Services LLC purchased a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,517 shares of the financial services provider’s stock, valued at approximately $338,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Marsh & McLennan Companies by 3.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,624,073 shares of the financial services provider’s stock worth $2,188,348,000 after purchasing an additional 380,828 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Marsh & McLennan Companies by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 4,530,716 shares of the financial services provider’s stock worth $954,712,000 after purchasing an additional 223,257 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Marsh & McLennan Companies by 1.7% in the 2nd quarter. Clearbridge Investments LLC now owns 3,409,110 shares of the financial services provider’s stock worth $718,368,000 after purchasing an additional 58,461 shares in the last quarter. Jensen Investment Management Inc. raised its holdings in shares of Marsh & McLennan Companies by 1.3% in the 2nd quarter. Jensen Investment Management Inc. now owns 3,226,258 shares of the financial services provider’s stock worth $679,837,000 after purchasing an additional 40,182 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Marsh & McLennan Companies by 5.7% in the 1st quarter. Capital Research Global Investors now owns 2,262,010 shares of the financial services provider’s stock worth $465,929,000 after purchasing an additional 121,260 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MMC. Wells Fargo & Company cut their price target on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating on the stock in a report on Thursday, October 10th. The Goldman Sachs Group set a $220.00 price target on shares of Marsh & McLennan Companies and gave the company a “sell” rating in a research report on Friday, October 18th. Bank of America upped their price target on shares of Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. BMO Capital Markets upped their price target on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, UBS Group upped their price target on shares of Marsh & McLennan Companies from $255.00 to $259.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $225.33.

Insider Activity at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total value of $553,875.00. Following the completion of the sale, the director now directly owns 48,549 shares of the company’s stock, valued at $10,756,030.95. This represents a 4.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Stock Performance

Shares of MMC opened at $223.67 on Tuesday. The company’s fifty day moving average is $224.17 and its 200-day moving average is $218.32. Marsh & McLennan Companies, Inc. has a 12 month low of $184.28 and a 12 month high of $232.32. The firm has a market cap of $109.85 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 3.30 and a beta of 0.94. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.89.

Marsh & McLennan Companies (NYSE:MMC) last announced 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 net margin of 16.82% and a return on equity of 32.65%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the prior year, the business posted $1.57 EPS. Marsh & McLennan Companies’s quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts expect that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 4th were paid a $0.815 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a yield of 1.46%. Marsh & McLennan Companies’s payout ratio is presently 40.15%.

About Marsh & McLennan Companies

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.