Waycross Partners LLC Invests $28.12 Million in Marsh & McLennan Companies, Inc. $MMC

Waycross Partners LLC acquired a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 139,521 shares of the financial services provider’s stock, valued at approximately $28,118,000. Marsh & McLennan Companies accounts for about 2.4% of Waycross Partners LLC’s investment portfolio, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new position in shares of Marsh & McLennan Companies in the 3rd quarter valued at approximately $25,000. Headlands Technologies LLC bought a new stake in Marsh & McLennan Companies during the second quarter valued at about $29,000. Westside Investment Management Inc. lifted its stake in shares of Marsh & McLennan Companies by 363.3% during the 2nd quarter. Westside Investment Management Inc. now owns 139 shares of the financial services provider’s stock valued at $30,000 after buying an additional 109 shares in the last quarter. Delos Wealth Advisors LLC purchased a new stake in Marsh & McLennan Companies during the 2nd quarter valued at approximately $32,000. Finally, TruNorth Capital Management LLC bought a new position in Marsh & McLennan Companies during the third quarter valued at approximately $32,000. 87.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MMC. TD Cowen cut their target price on Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating on the stock in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Marsh & McLennan Companies in a report on Friday, October 31st. Citigroup lowered 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. Barclays lifted their price objective on shares of Marsh & McLennan Companies from $206.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Finally, Cantor Fitzgerald lowered their price target on Marsh & McLennan Companies from $226.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $216.88.

Marsh & McLennan Companies Trading Down 1.7%

Shares of MMC stock opened at $182.39 on Wednesday. The company’s 50-day moving average price is $183.96 and its 200-day moving average price is $190.80. The stock has a market cap of $89.35 billion, a price-to-earnings 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. Marsh & McLennan Companies, Inc. has a twelve month low of $174.18 and a twelve month high of $248.00.

Marsh & McLennan Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Thursday, January 29th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, January 29th. Marsh & McLennan Companies’s payout ratio is 43.17%.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 87,681 shares of the company’s stock, valued at approximately $15,977,231.82. The trade was a 19.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

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.