Assetmark Inc. Boosts Holdings in Marsh & McLennan Companies, Inc. (MMC)

Assetmark Inc. grew its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 280,823 shares of the financial services provider’s stock after acquiring an additional 17,707 shares during the quarter. Assetmark Inc. owned 0.06% of Marsh & McLennan Companies worth $23,536,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Carroll Financial Associates Inc. increased its stake in shares of Marsh & McLennan Companies by 21.8% in the second quarter. Carroll Financial Associates Inc. now owns 1,301 shares of the financial services provider’s stock worth $101,000 after buying an additional 233 shares during the period. Acrospire Investment Management LLC purchased a new position in Marsh & McLennan Companies during the 2nd quarter valued at $109,000. Grove Bank & Trust increased its position in Marsh & McLennan Companies by 5.6% during the 2nd quarter. Grove Bank & Trust now owns 1,603 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 85 shares during the period. JFS Wealth Advisors LLC purchased a new position in Marsh & McLennan Companies during the 3rd quarter valued at $189,000. Finally, Salem Investment Counselors Inc. increased its position in Marsh & McLennan Companies by 8.0% during the 2nd quarter. Salem Investment Counselors Inc. now owns 2,312 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 172 shares during the period. 85.04% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies, Inc. (MMC) traded up $0.63 on Tuesday, reaching $83.56. 496,313 shares of the company’s stock traded hands, compared to its average volume of 1,782,558. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.77. The company has a market cap of $42,030.00, a PE ratio of 21.90, a P/E/G ratio of 1.75 and a beta of 1.01. Marsh & McLennan Companies, Inc. has a 1-year low of $66.75 and a 1-year high of $84.90.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Marsh & McLennan Companies had a net margin of 13.86% and a return on equity of 28.88%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. research analysts forecast that Marsh & McLennan Companies, Inc. will post 3.82 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 10th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Friday, October 6th. Marsh & McLennan Companies’s payout ratio is currently 41.10%.

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A number of brokerages have issued reports on MMC. Royal Bank Of Canada reissued a “buy” rating and set a $85.00 price objective on shares of Marsh & McLennan Companies in a research report on Friday, July 28th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $83.00 price objective on shares of Marsh & McLennan Companies in a research report on Friday, August 18th. Zacks Investment Research raised shares of Marsh & McLennan Companies from a “sell” rating to a “hold” rating and set a $95.00 price objective on the stock in a research report on Monday, October 2nd. Wells Fargo & Company restated a “buy” rating on shares of Marsh & McLennan Companies in a report on Wednesday, August 9th. Finally, Jefferies Group LLC restated a “hold” rating on shares of Marsh & McLennan Companies in a report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $84.39.

In other Marsh & McLennan Companies news, Director Marc D. Oken purchased 1,235 shares of Marsh & McLennan Companies stock in a transaction dated Monday, October 30th. The stock was purchased at an average price of $80.89 per share, with a total value of $99,899.15. Following the transaction, the director now directly owns 40,120 shares of the company’s stock, valued at $3,245,306.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.46% of the stock is owned by corporate insiders.

About Marsh & McLennan Companies

Marsh & McLennan Companies, Inc is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy.

Institutional Ownership by Quarter for Marsh & McLennan Companies (NYSE:MMC)

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