Resources Management Corp CT ADV Invests $205,000 in Marsh & McLennan Companies, Inc. (NYSE:MMC)
Resources Management Corp CT ADV bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,050 shares of the financial services provider’s stock, valued at approximately $205,000.
Other large investors have also made changes to their positions in the company. CSat Investment Advisory L.P. boosted its position in Marsh & McLennan Companies by 1,122.5% in the second quarter. CSat Investment Advisory L.P. now owns 868 shares of the financial services provider’s stock valued at $87,000 after buying an additional 797 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new stake in Marsh & McLennan Companies during the 2nd quarter valued at approximately $63,852,000. Daiwa Securities Group Inc. boosted its holdings in shares of Marsh & McLennan Companies by 9.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 21,499 shares of the financial services provider’s stock valued at $2,151,000 after acquiring an additional 1,777 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of Marsh & McLennan Companies in the 3rd quarter valued at $19,560,000. Finally, Buckingham Asset Management LLC increased its stake in shares of Marsh & McLennan Companies by 27.7% in the second quarter. Buckingham Asset Management LLC now owns 3,918 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 850 shares during the period. 87.30% of the stock is currently owned by institutional investors.
Shares of NYSE MMC opened at $107.37 on Friday. The company has a market capitalization of $54.54 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 1.89 and a beta of 0.75. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.14. The company’s fifty day moving average price is $103.74 and its 200 day moving average price is $100.15. Marsh & McLennan Companies, Inc. has a 1 year low of $74.30 and a 1 year high of $108.73.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 11th were issued a $0.455 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.82 dividend on an annualized basis and a yield of 1.70%. Marsh & McLennan Companies’s payout ratio is 41.84%.
Marsh & McLennan Companies declared that its board has authorized a share buyback program on Thursday, November 21st that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
A number of research analysts recently issued reports on MMC shares. Wells Fargo & Co restated a “hold” rating and set a $95.00 target price on shares of Marsh & McLennan Companies in a research report on Tuesday, October 29th. Morgan Stanley increased their price target on Marsh & McLennan Companies from $101.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, Raymond James upgraded Marsh & McLennan Companies from an “underperform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus target price of $100.90.
In other Marsh & McLennan Companies news, SVP Laurie Ledford sold 4,305 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $108.18, for a total transaction of $465,714.90. Corporate insiders own 1.16% of the company’s stock.
About Marsh & McLennan Companies
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 in two segments, Risk and Insurance Services, and Consulting. 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, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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