American National Insurance Co. trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,610 shares of the financial services provider’s stock after selling 85 shares during the quarter. Marsh & McLennan Companies makes up about 0.7% of American National Insurance Co.’s investment portfolio, making the stock its 23rd largest holding. American National Insurance Co.’s holdings in Marsh & McLennan Companies were worth $19,781,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MMC. Greenleaf Trust increased its stake in shares of Marsh & McLennan Companies by 3.0% in the 2nd quarter. Greenleaf Trust now owns 6,102 shares of the financial services provider’s stock worth $858,000 after purchasing an additional 180 shares in the last quarter. Moors & Cabot Inc. grew its holdings in Marsh & McLennan Companies by 3.9% during the second quarter. Moors & Cabot Inc. now owns 3,429 shares of the financial services provider’s stock valued at $482,000 after purchasing an additional 128 shares during the period. AGF Investments Inc. increased its position in Marsh & McLennan Companies by 63.9% in the second quarter. AGF Investments Inc. now owns 26,137 shares of the financial services provider’s stock worth $3,677,000 after buying an additional 10,188 shares in the last quarter. abrdn plc raised its stake in shares of Marsh & McLennan Companies by 119.4% in the second quarter. abrdn plc now owns 464,163 shares of the financial services provider’s stock worth $65,305,000 after buying an additional 252,588 shares during the period. Finally, Brighton Jones LLC lifted its position in shares of Marsh & McLennan Companies by 2.7% during the 2nd quarter. Brighton Jones LLC now owns 5,908 shares of the financial services provider’s stock valued at $831,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.
MMC stock traded down $0.38 during trading on Friday, reaching $157.84. 12,494 shares of the company traded hands, compared to its average volume of 1,809,913. The company has a market capitalization of $79.97 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 2.11 and a beta of 0.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.30 and a current ratio of 1.30. The business has a 50 day simple moving average of $151.42 and a 200 day simple moving average of $137.84. Marsh & McLennan Companies, Inc. has a 12 month low of $102.11 and a 12 month high of $162.26.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Thursday, July 29th were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.36%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Wednesday, July 28th. Marsh & McLennan Companies’s payout ratio is 43.06%.
In other news, Director Morton O. Schapiro sold 9,078 shares of the business’s stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $157.18, for a total transaction of $1,426,880.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company’s stock.
MMC has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of Marsh & McLennan Companies from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, July 23rd. Bank of America raised shares of Marsh & McLennan Companies from an “underperform” rating to a “neutral” rating and set a $150.00 price objective for the company in a report on Friday, July 23rd. Wolfe Research initiated coverage on shares of Marsh & McLennan Companies in a research report on Monday, August 16th. They set an “outperform” rating and a $171.00 target price for the company. Zacks Investment Research upgraded shares of Marsh & McLennan Companies from a “hold” rating to a “strong-buy” rating and set a $167.00 price target on the stock in a research note on Thursday, July 29th. Finally, Wells Fargo & Company boosted their target price on Marsh & McLennan Companies from $133.00 to $144.00 and gave the company an “equal weight” rating in a research report on Friday, July 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $143.32.
Marsh & McLennan Companies Profile
Marsh & McLennan Cos., Inc is a professional services firm, which offers clients advice and solutions in risk, strategy and people. It operates through the following business segments: Risk & Insurance Services, and Consulting. The Risk and Insurance Services segment includes risk management activities, as well as insurance and reinsurance broking and services.
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