Prospera Financial Services Inc Acquires 4,377 Shares of Marsh & McLennan Companies, Inc. $MMC

Prospera Financial Services Inc increased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 53.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,543 shares of the financial services provider’s stock after acquiring an additional 4,377 shares during the quarter. Prospera Financial Services Inc’s holdings in Marsh & McLennan Companies were worth $2,528,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Profund Advisors LLC lifted its stake in shares of Marsh & McLennan Companies by 9.7% during the 3rd quarter. Profund Advisors LLC now owns 6,727 shares of the financial services provider’s stock worth $1,356,000 after buying an additional 596 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Marsh & McLennan Companies by 13.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 89,337 shares of the financial services provider’s stock valued at $18,004,000 after acquiring an additional 10,248 shares during the period. AdvisorShares Investments LLC bought a new stake in shares of Marsh & McLennan Companies during the third quarter worth approximately $472,000. Fullcircle Wealth LLC increased its stake in shares of Marsh & McLennan Companies by 3.4% during the third quarter. Fullcircle Wealth LLC now owns 5,557 shares of the financial services provider’s stock worth $1,120,000 after purchasing an additional 182 shares during the period. Finally, Kinsale Capital Group Inc. lifted its holdings in Marsh & McLennan Companies by 10.0% during the 3rd quarter. Kinsale Capital Group Inc. now owns 43,735 shares of the financial services provider’s stock worth $8,814,000 after purchasing an additional 3,984 shares during the last quarter. 87.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on MMC. Keefe, Bruyette & Woods increased their price objective on Marsh & McLennan Companies from $191.00 to $205.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Bank of America reissued an “underperform” rating and issued a $181.00 price objective (down previously from $243.00) on shares of Marsh & McLennan Companies in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marsh & McLennan Companies in a report on Friday, October 31st. Finally, TD Cowen cut their price target on Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a research note on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $216.88.

Marsh & McLennan Companies Price Performance

Shares of NYSE:MMC opened at $182.39 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $89.35 billion, a PE ratio of 21.87, a PEG ratio of 2.87 and a beta of 0.76. The firm has a 50 day moving average of $183.90 and a 200-day moving average of $191.34. Marsh & McLennan Companies, Inc. has a 12 month low of $174.18 and a 12 month high of $248.00.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 29th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, January 29th. Marsh & McLennan Companies’s dividend payout ratio is currently 43.17%.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the completion of the transaction, the chief executive officer owned 87,681 shares of the company’s stock, valued at approximately $15,977,231.82. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

About Marsh & McLennan Companies

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.