Thrivent Financial for Lutherans Acquires 173,039 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Thrivent Financial for Lutherans increased its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 102.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 342,190 shares of the financial services provider’s stock after buying an additional 173,039 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of Marsh & McLennan Companies worth $76,339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Fortitude Family Office LLC lifted its stake in shares of Marsh & McLennan Companies by 18.8% during the 3rd quarter. Fortitude Family Office LLC now owns 285 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 45 shares during the last quarter. Kingfisher Capital LLC boosted its holdings in shares of Marsh & McLennan Companies by 4.7% in the 2nd quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock valued at $220,000 after buying an additional 47 shares in the last quarter. Drive Wealth Management LLC grew its position 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 worth $291,000 after buying an additional 49 shares during the last quarter. Legacy Financial Advisors Inc. raised its stake in shares of Marsh & McLennan Companies by 2.3% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 49 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in Marsh & McLennan Companies by 0.6% during the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock valued at $1,887,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 87.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MMC shares. The Goldman Sachs Group set a $220.00 price target on Marsh & McLennan Companies and gave the stock a “sell” rating in a research report on Friday, October 18th. Royal Bank of Canada raised their price target on Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Barclays initiated coverage on shares of Marsh & McLennan Companies in a report on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Marsh & McLennan Companies presently has an average rating of “Hold” and a consensus price target of $225.33.

Marsh & McLennan Companies Price Performance

NYSE:MMC opened at $222.14 on Monday. The company has a market capitalization of $109.10 billion, a P/E ratio of 27.36, a P/E/G 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, Inc. has a 52 week low of $184.28 and a 52 week high of $232.32. The stock’s fifty day moving average is $224.31 and its two-hundred day moving average is $218.15.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business earned $1.57 earnings per share. Equities analysts expect that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current 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 dividend of $0.815 per share. This represents a $3.26 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, October 4th. Marsh & McLennan Companies’s payout ratio is 40.15%.

Insider Buying and Selling at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 48,549 shares of the company’s stock, valued at $10,756,030.95. This trade represents a 4.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

Marsh & McLennan Companies Company 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.