AXQ Capital LP significantly increased its investment in Marsh & McLennan Companies, Inc. (NYSE: MMC) by 112.7% during the second quarter of 2023. According to its latest Form 13F filing with the Securities and Exchange Commission, the institutional investor now holds 3,342 shares of the financial services firm, which were valued at approximately $731,000 at the end of the quarter.
Several other institutional investors have also adjusted their positions in Marsh & McLennan. For instance, Accent Capital Management LLC entered a new position valued at around $25,000 in the first quarter. Similarly, Knuff & Co LLC acquired a stake worth about $28,000 during the same period. Activest Wealth Management notably increased its holdings by an impressive 2,775.0%, ending up with 115 shares valued at $28,000 after acquiring an additional 111 shares.
Westside Investment Management Inc. raised its ownership by 363.3% in the second quarter, now owning 139 shares worth $30,000. Furthermore, Capital Analysts LLC expanded its stake by 61.0% in the first quarter, resulting in ownership of 169 shares valued at $41,000. Collectively, hedge funds and institutional investors hold 87.99% of the company’s stock.
Market Performance and Dividend Declaration
Marsh & McLennan’s stock opened at $181.08 on Friday, with a market capitalization of $88.71 billion. The company’s price-to-earnings ratio stands at 21.71, with a price-to-earnings-growth ratio of 2.25. Over the past year, the stock has fluctuated between a low of $174.18 and a high of $248.00. The company also reported a 50-day simple moving average of $190.92 and a 200-day average of $206.32.
In a significant development, Marsh & McLennan declared a quarterly dividend of $0.90 per share, which was paid on November 14, 2023. Stockholders on record as of October 2, 2023 received this payment, representing an annualized dividend of $3.60 and a yield of 2.0%. The ex-dividend date was also October 2, 2023, and the company’s payout ratio is currently 43.17%.
Insider Transactions and Analyst Ratings
In related news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan stock on September 2, 2023. The shares were sold at an average price of $205.65, amounting to a total value of $4,334,896.35. Following this transaction, Doyle retains 87,681 shares valued at approximately $18,031,597.65, reflecting a 19.38% decrease in his position. Insider ownership currently constitutes 0.35% of the total stock.
Several analysts have recently provided insights on Marsh & McLennan’s stock performance. Cantor Fitzgerald initiated coverage with an “overweight” rating and a price target of $256.00. Keefe, Bruyette & Woods upgraded the company from “underperform” to “market perform,” adjusting their target from $209.00 to $191.00. UBS Group lowered their target from $258.00 to $257.00, maintaining a “buy” rating. Morgan Stanley also revised its price target from $220.00 to $215.00, opting for an “equal weight” rating.
Analysts are generally optimistic, with eight recommending a buy, nine suggesting a hold, and one issuing a sell rating. According to data from MarketBeat.com, Marsh & McLennan Companies holds a consensus rating of “Hold” with an average target price of $227.69.
Marsh & McLennan Companies, Inc. is a leading professional services firm that provides advisory services in risk, strategy, and people management. Its operations are classified into two main segments: Risk and Insurance Services, and Consulting, focusing on risk management and insurance broking.
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