Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stake in Marsh & McLennan Companies, Inc. $MMC

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 15.0% in the 2nd quarter, Holdings Channel reports. The fund owned 8,205 shares of the financial services provider’s stock after purchasing an additional 1,068 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Marsh & McLennan Companies were worth $1,794,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parisi Gray Wealth Management purchased a new stake in shares of Marsh & McLennan Companies in the first quarter valued at $947,000. Wealth Enhancement Advisory Services LLC grew its holdings in Marsh & McLennan Companies by 101.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 103,551 shares of the financial services provider’s stock valued at $25,270,000 after buying an additional 52,218 shares during the period. LPL Financial LLC increased its position in Marsh & McLennan Companies by 9.9% during the first quarter. LPL Financial LLC now owns 324,035 shares of the financial services provider’s stock worth $78,662,000 after purchasing an additional 29,247 shares during the last quarter. Penserra Capital Management LLC increased its position in Marsh & McLennan Companies by 101.4% during the first quarter. Penserra Capital Management LLC now owns 7,136 shares of the financial services provider’s stock worth $1,741,000 after purchasing an additional 3,593 shares during the last quarter. Finally, US Asset Management LLC increased its position in Marsh & McLennan Companies by 23.1% during the first quarter. US Asset Management LLC now owns 6,847 shares of the financial services provider’s stock worth $1,671,000 after purchasing an additional 1,284 shares during the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Marsh & McLennan Companies from $261.00 to $258.00 and set a “buy” rating for the company in a research note on Monday, July 21st. Morgan Stanley lowered their price target on Marsh & McLennan Companies from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Wolfe Research initiated coverage on Marsh & McLennan Companies in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. Keefe, Bruyette & Woods decreased their target price on Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating for the company in a report on Monday, July 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Marsh & McLennan Companies in a research note on Saturday, September 27th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $238.76.

Marsh & McLennan Companies Stock Up 0.8%

NYSE MMC opened at $201.25 on Friday. The stock has a market cap of $98.94 billion, a PE ratio of 24.13, a P/E/G ratio of 2.53 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a fifty-two week low of $195.01 and a fifty-two week high of $248.00. The business has a 50 day moving average price of $202.96 and a two-hundred day moving average price of $216.63. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.06. The business had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.92 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.41 earnings per share. As a group, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 1.8%. Marsh & McLennan Companies’s dividend payout ratio is currently 43.17%.

Insider Buying and Selling

In related news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was 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 of the company’s stock, valued at approximately $18,031,597.65. This represents 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 link. Corporate insiders own 0.35% of the company’s stock.

About Marsh & McLennan Companies

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.