OneAscent Family Office LLC Lowers Stock Holdings in Marsh & McLennan Companies, Inc. $MMC

OneAscent Family Office LLC trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 53.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 946 shares of the financial services provider’s stock after selling 1,072 shares during the quarter. OneAscent Family Office LLC’s holdings in Marsh & McLennan Companies were worth $207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMC. Soltis Investment Advisors LLC lifted its holdings in Marsh & McLennan Companies by 14.4% during the second quarter. Soltis Investment Advisors LLC now owns 1,418 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 178 shares in the last quarter. Washington Trust Bank lifted its stake in Marsh & McLennan Companies by 7.3% in the 2nd quarter. Washington Trust Bank now owns 72,513 shares of the financial services provider’s stock valued at $15,854,000 after buying an additional 4,924 shares in the last quarter. Suncoast Equity Management boosted its holdings in Marsh & McLennan Companies by 1.8% in the 2nd quarter. Suncoast Equity Management now owns 20,082 shares of the financial services provider’s stock worth $4,391,000 after buying an additional 350 shares during the last quarter. Waverton Investment Management Ltd boosted its stake in shares of Marsh & McLennan Companies by 7.1% in the second quarter. Waverton Investment Management Ltd now owns 1,292,140 shares of the financial services provider’s stock worth $282,572,000 after acquiring an additional 86,182 shares during the last quarter. Finally, Andra AP fonden raised its stake in Marsh & McLennan Companies by 137.2% in the 2nd quarter. Andra AP fonden now owns 21,610 shares of the financial services provider’s stock valued at $4,725,000 after purchasing an additional 12,500 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on MMC shares. Wolfe Research started coverage on shares of Marsh & McLennan Companies in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. The Goldman Sachs Group upgraded Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and dropped their target price for the company from $200.00 to $195.00 in a report on Monday, October 20th. Cantor Fitzgerald initiated coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set an “overweight” rating and a $256.00 price target on the stock. TD Cowen cut their price objective on shares of Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a research report on Monday. Finally, UBS Group decreased their target price on shares of Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $228.63.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $178.47 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $87.43 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.25 and a beta of 0.78. The firm’s 50 day moving average price is $196.60 and its 200-day moving average price is $209.81. Marsh & McLennan Companies, Inc. has a one year low of $174.18 and a one year high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. Marsh & McLennan Companies had a return on equity of 31.79% and a net margin of 15.60%.The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the previous year, the company earned $1.63 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.90 per share. The ex-dividend date is Thursday, October 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio is 43.17%.

Insider Activity at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total value of $4,334,896.35. Following the completion of the transaction, the chief executive officer owned 87,681 shares in the company, valued at approximately $18,031,597.65. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.