OneAscent Wealth Management LLC Invests $252,000 in Marsh & McLennan Companies, Inc. (NYSE:MMC)

OneAscent Wealth Management LLC bought a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,128 shares of the financial services provider’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also modified their holdings of MMC. Drive Wealth Management LLC raised its holdings in shares of Marsh & McLennan Companies by 4.3% during the third quarter. Drive Wealth Management LLC now owns 1,441 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 59 shares during the last quarter. Quest Partners LLC raised its stake in Marsh & McLennan Companies by 7,868.0% during the 3rd quarter. Quest Partners LLC now owns 14,183 shares of the financial services provider’s stock valued at $3,164,000 after buying an additional 14,005 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Marsh & McLennan Companies by 0.6% during the 3rd quarter. Swiss National Bank now owns 1,464,900 shares of the financial services provider’s stock valued at $326,805,000 after buying an additional 9,200 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Marsh & McLennan Companies by 102.3% in the third quarter. Thrivent Financial for Lutherans now owns 342,190 shares of the financial services provider’s stock worth $76,339,000 after acquiring an additional 173,039 shares during the period. Finally, Claro Advisors LLC purchased a new stake in Marsh & McLennan Companies during the third quarter valued at $292,000. Institutional investors own 87.99% of the company’s stock.

Insider Activity

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total transaction of $553,875.00. Following the completion of the transaction, the director now owns 48,549 shares in the company, valued at $10,756,030.95. The trade was a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MMC. 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. Roth Mkm lifted their price target on shares of Marsh & McLennan Companies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company reduced their price objective on 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. Keefe, Bruyette & Woods lifted their target price on Marsh & McLennan Companies from $209.00 to $212.00 and gave the company an “underperform” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group raised their price objective on Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $225.33.

Marsh & McLennan Companies Stock Performance

Shares of NYSE MMC opened at $223.67 on Tuesday. The company has a market cap of $109.85 billion, a P/E ratio of 27.55, a P/E/G ratio of 3.30 and a beta of 0.94. The firm’s fifty day moving average is $224.17 and its two-hundred day moving average is $218.32. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a 52-week low of $184.28 and a 52-week high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the business posted $1.57 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 4th were paid a dividend of $0.815 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 annualized dividend and a yield of 1.46%. Marsh & McLennan Companies’s payout ratio is currently 40.15%.

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.