Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Bought by Parnassus Investments LLC

Parnassus Investments LLC grew its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,274,880 shares of the financial services provider’s stock after buying an additional 85,754 shares during the quarter. Marsh & McLennan Companies accounts for about 2.0% of Parnassus Investments LLC’s investment portfolio, making the stock its 18th biggest holding. Parnassus Investments LLC’s holdings in Marsh & McLennan Companies were worth $953,683,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MMC. Carmichael Hill & Associates Inc. boosted its position in Marsh & McLennan Companies by 85.7% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 130 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 60 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Marsh & McLennan Companies during the 3rd quarter worth $31,000. Crewe Advisors LLC boosted its stake in Marsh & McLennan Companies by 100.0% during the 2nd quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 80 shares during the last quarter. Iron Horse Wealth Management LLC raised its holdings in shares of Marsh & McLennan Companies by 712.5% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 195 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 171 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in shares of Marsh & McLennan Companies during the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

Marsh & McLennan Companies stock opened at $223.67 on Tuesday. Marsh & McLennan Companies, Inc. has a 12 month low of $184.28 and a 12 month high of $232.32. 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 $224.17 and a 200-day simple moving average of $218.32. The stock has a market capitalization of $109.85 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 3.30 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last released 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 during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities analysts predict that Marsh & McLennan Companies, Inc. will post 8.7 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently commented on MMC shares. Keefe, Bruyette & Woods lifted their price target on Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. Roth Mkm lifted 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. UBS Group lifted their target price on Marsh & McLennan Companies from $255.00 to $259.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group boosted their price objective on Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Bank of America upped their price target on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $225.33.

Insider Buying and Selling at Marsh & McLennan Companies

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

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.