AXQ Capital LP significantly increased its investment in Marsh & McLennan Companies, Inc. (NYSE: MMC) by 112.7% during the second quarter of 2023, as detailed in the firm’s latest Form 13F filing with the Securities and Exchange Commission. The institutional investor now holds 3,342 shares of the financial services company, having acquired an additional 1,771 shares during the period. By the end of June, AXQ Capital’s holdings were valued at approximately $731,000.
Other institutional investors have also made adjustments to their positions in Marsh & McLennan. For instance, Accent Capital Management LLC purchased a new stake in the company worth about $25,000 in the first quarter. Similarly, Knuff & Co LLC invested approximately $28,000, while Activest Wealth Management reported an impressive increase of 2,775.0% in its holdings, bringing its total to 115 shares valued at $28,000 after acquiring an additional 111 shares.
Westside Investment Management Inc. raised its stake by 363.3%, now owning 139 shares worth $30,000, while Capital Analysts LLC increased its position by 61.0%, owning 169 shares valued at $41,000. Overall, hedge funds and institutional investors collectively own 87.99% of Marsh & McLennan’s stock.
Market Performance and Recent Developments
Marsh & McLennan shares opened at $181.08 on the last trading day, 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 and a beta of 0.78. The stock has experienced a fifty-two week low of $174.18 and a high of $248.00. Currently, the firm’s 50-day and 200-day simple moving averages are $190.92 and $206.32, respectively.
In addition to these developments, Marsh & McLennan recently 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 dividend, translating to an annualized dividend of $3.60 and a yield of 2.0%. The company’s payout ratio is currently 43.17%.
Insider Activity and Analyst Ratings
In related news, John Q. Doyle, CEO of Marsh & McLennan, sold 21,079 shares on September 2, 2023, at an average price of $205.65, totaling approximately $4.3 million. Following this transaction, Doyle retains 87,681 shares valued around $18.03 million, marking a 19.38% reduction in his position. Insiders currently own 0.35% of the stock.
Market analysts have recently issued new ratings for Marsh & McLennan. Notably, Cantor Fitzgerald initiated coverage with an “overweight” rating and a target price of $256.00. On the other hand, Keefe, Bruyette & Woods downgraded their rating from “underperform” to “market perform,” adjusting the target price from $209.00 to $191.00. UBS Group lowered their target from $258.00 to $257.00 while maintaining a “buy” rating.
Overall, eight research analysts have rated the stock with a “buy” recommendation, nine have suggested holding, and one has rated it as a sell. According to data from MarketBeat.com, Marsh & McLennan Companies has a consensus rating of “hold” with an average target price of $227.69.
For ongoing updates on Marsh & McLennan and other major financial entities, investors can follow the latest 13F filings and insider trades available through credible financial news sources.
