Tower Bridge Advisors Has $495,000 Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Tower Bridge Advisors grew its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,218 shares of the financial services provider’s stock after buying an additional 89 shares during the period. Tower Bridge Advisors’ holdings in Marsh & McLennan Companies were worth $495,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMC. Fortitude Family Office LLC lifted its holdings in shares of Marsh & McLennan Companies by 18.8% in 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 in the last quarter. Kingfisher Capital LLC raised its position in 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 during the last quarter. Drive Wealth Management LLC raised its position in 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 buying an additional 49 shares during the last quarter. Legacy Financial Advisors Inc. raised its position in Marsh & McLennan Companies by 2.3% in the 2nd 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 last quarter. Finally, Ritholtz Wealth Management raised its position in Marsh & McLennan Companies by 0.6% in the 2nd 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 during the last quarter. 87.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MMC shares. Wells Fargo & Company lowered their price target on 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. The Goldman Sachs Group set a $220.00 target price on Marsh & McLennan Companies and gave the company a “sell” rating in a research report on Friday, October 18th. Barclays initiated coverage on Marsh & McLennan Companies in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 target price for the company. Keefe, Bruyette & Woods raised 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, BMO Capital Markets raised their target price on 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. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $225.33.

Marsh & McLennan Companies Stock Up 0.3 %

Shares of NYSE MMC opened at $222.14 on Monday. Marsh & McLennan Companies, Inc. has a 52 week low of $184.28 and a 52 week high of $232.32. The business has a 50-day simple moving average of $224.31 and a two-hundred day simple moving average of $218.15. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.89. The company has a market cap 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.

Marsh & McLennan Companies (NYSE:MMC) last issued its 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 during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the company earned $1.57 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. Research analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.7 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 4th were paid a $0.815 dividend. The ex-dividend date was Friday, October 4th. This represents a $3.26 annualized dividend and a yield of 1.47%. Marsh & McLennan Companies’s dividend payout ratio is currently 40.15%.

Insider Activity

In other news, Director Oscar Fanjul sold 2,500 shares of Marsh & McLennan Companies stock in a transaction dated 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 sale, the director now owns 48,549 shares in the company, valued at approximately $10,756,030.95. This trade represents a 4.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

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.