Rakuten Investment Management Inc. Acquires Shares of 2,987 Marsh & McLennan Companies, Inc. $MMC

Rakuten Investment Management Inc. bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MMC) during the 3rd quarter, Holdings Channel reports. The fund bought 2,987 shares of the financial services provider’s stock, valued at approximately $602,000.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Marsh & McLennan Companies during the 2nd quarter worth approximately $1,328,587,000. Valeo Financial Advisors LLC raised its stake in Marsh & McLennan Companies by 48,212.9% during the second quarter. Valeo Financial Advisors LLC now owns 2,629,187 shares of the financial services provider’s stock valued at $574,845,000 after purchasing an additional 2,623,745 shares in the last quarter. Soundwatch Capital LLC bought a new position in Marsh & McLennan Companies during the second quarter valued at $560,820,000. Mackenzie Financial Corp grew its stake in shares of Marsh & McLennan Companies by 212.6% in the 2nd quarter. Mackenzie Financial Corp now owns 2,285,194 shares of the financial services provider’s stock worth $499,635,000 after buying an additional 1,554,114 shares in the last quarter. Finally, Amundi increased its holdings in shares of Marsh & McLennan Companies by 89.2% in the 2nd quarter. Amundi now owns 2,892,576 shares of the financial services provider’s stock worth $615,309,000 after buying an additional 1,363,706 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $182.22, for a total value of $3,841,015.38. Following the transaction, the chief executive officer owned 87,681 shares in the company, valued at approximately $15,977,231.82. This trade represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MMC shares. UBS Group dropped their price target on Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Mizuho began coverage on Marsh & McLennan Companies in a report on Tuesday, December 16th. They issued an “outperform” rating and a $212.00 target price for the company. Evercore ISI decreased their price target on Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, January 7th. Bank of America reaffirmed an “underperform” rating and set a $181.00 price objective (down from $243.00) on shares of Marsh & McLennan Companies in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $218.82.

Marsh & McLennan Companies Price Performance

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.19. Marsh & McLennan Companies, Inc. has a 12-month low of $174.18 and a 12-month high of $248.00. The company 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 firm has a 50 day simple moving average of $183.69 and a two-hundred day simple moving average of $194.05.

Marsh & McLennan Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors 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%.

Marsh & McLennan Companies Company 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.