Citigroup Inc. Purchases 23,445 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Citigroup Inc. raised its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 508,245 shares of the financial services provider’s stock after acquiring an additional 23,445 shares during the period. Citigroup Inc.’s holdings in Marsh & McLennan Companies were worth $113,384,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Marsh & McLennan Companies by 4,991.4% in the second quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider’s stock worth $146,047,000 after purchasing an additional 679,474 shares in the last quarter. International Assets Investment Management LLC lifted its position in Marsh & McLennan Companies by 31,846.5% during the 3rd quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider’s stock worth $95,430,000 after buying an additional 426,425 shares in the last quarter. Truist Financial Corp grew its holdings in Marsh & McLennan Companies by 93.9% during the 2nd quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock worth $160,563,000 after acquiring an additional 368,970 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Marsh & McLennan Companies by 219.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 529,239 shares of the financial services provider’s stock valued at $118,068,000 after acquiring an additional 363,569 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Marsh & McLennan Companies in the first quarter worth about $57,851,000. Institutional investors own 87.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MMC. Barclays raised their price target on shares of Marsh & McLennan Companies from $236.00 to $246.00 and gave the company an “equal weight” rating in a report on Thursday. Royal Bank of Canada boosted their target price on Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Bank of America upped their price target on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. UBS Group boosted their price objective on Marsh & McLennan Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $226.00.

Insider Buying and Selling

In related news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total transaction of $553,875.00. Following the completion of the transaction, the director now directly owns 48,549 shares in the company, valued at approximately $10,756,030.95. This trade represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Trading Up 1.5 %

MMC opened at $227.82 on Friday. The firm’s fifty day moving average is $223.67 and its two-hundred day moving average is $218.72. The firm has a market cap of $111.89 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 3.34 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a twelve month low of $184.28 and a twelve month high of $232.32. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.14 and a current ratio of 1.14.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, topping the consensus estimate of $1.61 by $0.02. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the business posted $1.57 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.69 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 4th were paid a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, October 4th. Marsh & McLennan Companies’s payout ratio is currently 40.15%.

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.