Baillie Gifford & Co. Buys Shares of 85,600 Marsh & McLennan Companies, Inc. (NYSE:MMC)

Baillie Gifford & Co. purchased a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 85,600 shares of the financial services provider’s stock, valued at approximately $19,097,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MMC. Fortitude Family Office LLC lifted its position 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 valued at $64,000 after acquiring an additional 45 shares during the period. Kingfisher Capital LLC boosted its position in Marsh & McLennan Companies by 4.7% during the second quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 47 shares in the last quarter. Drive Wealth Management LLC grew its holdings in Marsh & McLennan Companies by 3.7% in the second quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after purchasing 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 buying an additional 49 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of 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 worth $1,887,000 after buying an additional 51 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

Shares of NYSE MMC opened at $225.24 on Wednesday. The business has a 50-day moving average of $224.75 and a 200-day moving average of $217.45. The company has a market capitalization of $110.62 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 3.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. Marsh & McLennan Companies, Inc. has a 1-year low of $184.28 and a 1-year high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 earnings per share. On average, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.815 per share. The ex-dividend date is Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a yield of 1.45%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 40.15%.

Analysts Set New Price Targets

Several brokerages have issued reports on MMC. 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 report on Tuesday, October 22nd. Bank of America increased their price objective on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays initiated coverage on shares of Marsh & McLennan Companies in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 target price on the stock. Wells Fargo & Company cut their price objective on shares of 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. Finally, UBS Group boosted their price target on Marsh & McLennan Companies from $255.00 to $259.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus target price of $225.33.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 2,500 shares of Marsh & McLennan Companies 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 owns 48,549 shares in the company, valued at approximately $10,756,030.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently 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.