Assetmark Inc. Raises Stock Holdings in Marsh & McLennan Companies, Inc. $MMC

Assetmark Inc. grew its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 688,583 shares of the financial services provider’s stock after buying an additional 4,071 shares during the quarter. Assetmark Inc.’s holdings in Marsh & McLennan Companies were worth $138,770,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new stake in shares of Marsh & McLennan Companies during the third quarter worth approximately $25,000. Headlands Technologies LLC purchased a new position in Marsh & McLennan Companies during the second quarter worth about $29,000. Westside Investment Management Inc. increased its position in shares of Marsh & McLennan Companies by 363.3% during the second quarter. Westside Investment Management Inc. now owns 139 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 109 shares during the last quarter. Delos Wealth Advisors LLC acquired a new stake in shares of Marsh & McLennan Companies in the second quarter valued at $32,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of Marsh & McLennan Companies in the third quarter valued at approximately $32,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Trading Down 1.7%

NYSE:MMC opened at $182.39 on Friday. Marsh & McLennan Companies, Inc. has a 12-month low of $174.18 and a 12-month high of $248.00. The firm has a market cap of $89.35 billion, a P/E ratio of 21.87, a PEG ratio of 2.87 and a beta of 0.76. 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’s 50 day simple moving average is $183.90 and its 200-day simple moving average is $191.34.

Marsh & McLennan Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders 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 payout ratio is presently 43.17%.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the transaction, the chief executive officer directly owned 87,681 shares in the company, valued at approximately $15,977,231.82. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MMC. Weiss Ratings reiterated a “hold (c)” rating on shares of Marsh & McLennan Companies in a report on Friday, October 31st. Evercore cut their price objective on Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 7th. Citigroup decreased their target price on Marsh & McLennan Companies from $211.00 to $201.00 and set a “neutral” rating for the company in a report on Thursday, December 4th. The Goldman Sachs Group upgraded Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and cut their price target for the stock from $200.00 to $195.00 in a report on Monday, October 20th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $181.00 price target (down previously from $243.00) on shares of Marsh & McLennan Companies in a research report on Monday, November 3rd. 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $216.88.

Marsh & McLennan Companies Profile

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.