Burke & Herbert Bank & Trust Co. Makes New $209,000 Investment in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Burke & Herbert Bank & Trust Co. purchased a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 993 shares of the financial services provider’s stock, valued at approximately $209,000.

Other institutional investors also recently made changes to their positions in the company. Westover Capital Advisors LLC raised its holdings in Marsh & McLennan Companies by 3.0% in the fourth quarter. Westover Capital Advisors LLC now owns 1,843 shares of the financial services provider’s stock valued at $349,000 after buying an additional 53 shares during the period. Evoke Wealth LLC lifted its holdings in shares of Marsh & McLennan Companies by 4.4% during the 4th quarter. Evoke Wealth LLC now owns 1,258 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 53 shares in the last quarter. RDA Financial Network boosted its position in Marsh & McLennan Companies by 3.1% during the 1st quarter. RDA Financial Network now owns 1,762 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 53 shares during the period. Optas LLC raised its position in Marsh & McLennan Companies by 2.9% in the first quarter. Optas LLC now owns 1,880 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 53 shares during the period. Finally, Strategic Blueprint LLC lifted its stake in shares of Marsh & McLennan Companies by 1.6% during the first quarter. Strategic Blueprint LLC now owns 3,411 shares of the financial services provider’s stock worth $703,000 after purchasing an additional 54 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Mark C. Mcgivney sold 10,265 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the completion of the transaction, the chief financial officer now owns 33,678 shares of the company’s stock, valued at $7,625,035.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Mark C. Mcgivney sold 10,265 shares of Marsh & McLennan Companies stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at $7,625,035.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Paul Beswick sold 2,169 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $210.13, for a total value of $455,771.97. Following the completion of the transaction, the senior vice president now directly owns 13,030 shares of the company’s stock, valued at $2,737,993.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,904 shares of company stock valued at $6,607,149. 0.30% of the stock is currently owned by insiders.

Marsh & McLennan Companies Price Performance

Shares of MMC opened at $217.51 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.91. The firm has a market cap of $107.17 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.20 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 52 week low of $184.02 and a 52 week high of $227.63. The stock has a 50 day moving average of $215.21 and a 200-day moving average of $206.96.

Marsh & McLennan Companies (NYSE:MMC) last released its earnings results on Thursday, July 18th. The financial services provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.01. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. The firm had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.31 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts forecast that Marsh & McLennan Companies, Inc. will post 8.73 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.815 dividend. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $3.26 dividend on an annualized basis and a yield of 1.50%. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 41.37%.

Wall Street Analysts Forecast Growth

MMC has been the subject of a number of recent research reports. Royal Bank of Canada raised their target price on Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Wells Fargo & Company boosted their target price on shares of Marsh & McLennan Companies from $212.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, April 19th. UBS Group lifted their price target on shares of Marsh & McLennan Companies from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. TD Cowen upped their price objective on shares of Marsh & McLennan Companies from $189.00 to $201.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Finally, Piper Sandler lowered Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 target price on the stock. in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $214.25.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.