AXQ Capital LP has significantly increased its investment in Marsh & McLennan Companies, Inc. (NYSE: MMC) by raising its stake by 112.7% in the second quarter of 2023. This increase, detailed in a recent Form 13F filing with the Securities and Exchange Commission, brings AXQ Capital’s total shares to 3,342, following the acquisition of an additional 1,771 shares during the period. As of the end of June, these holdings were valued at approximately $731,000.
The investment landscape for Marsh & McLennan has been active, with several other institutional investors adjusting their positions. Notably, Accent Capital Management LLC established a new investment in the firm worth about $25,000 in the first quarter. Similarly, Knuff & Co LLC acquired shares valued at roughly $28,000. Activest Wealth Management made a remarkable change by increasing its position by 2,775%, owning 115 shares valued at $28,000 after purchasing an additional 111 shares.
In the second quarter, Westside Investment Management Inc. also expanded its stake by 363.3%, now holding 139 shares worth $30,000. Furthermore, Capital Analysts LLC increased its holdings by 61.0% in the first quarter, bringing their total to 169 shares valued at $41,000. Collectively, hedge funds and institutional investors currently own 87.99% of Marsh & McLennan’s stock.
Market Performance and Dividend Announcement
As of the latest trading session, Marsh & McLennan shares opened at $181.08. The company boasts a market capitalization of $88.71 billion, with a price-to-earnings ratio of 21.71 and a price-to-earnings-growth ratio of 2.25. Over the past year, the stock has reached a low of $174.18 and a high of $248.00. The firm also reported a 50-day simple moving average of $190.92 and a 200-day simple moving average of $206.32. Its financial ratios include a debt-to-equity ratio of 1.19, a quick ratio of 1.12, and a current ratio of 1.12.
Recently, Marsh & McLennan declared a quarterly dividend of $0.90 per share, which was paid on November 14, 2023. Shareholders of record on October 2, 2023 were eligible for this dividend, translating to an annualized payout of $3.60 and a dividend yield of 2.0%. The company’s payout ratio stands at 43.17%.
Insider Activity and Analyst Ratings
In other company news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan stock on September 2, 2023, at an average price of $205.65, totaling approximately $4.33 million. Following this transaction, Doyle retained 87,681 shares, valued at about $18.03 million, marking a 19.38% reduction in his overall stake. Currently, insiders hold 0.35% of the company’s stock.
Various analysts have recently provided updated ratings for Marsh & McLennan. Cantor Fitzgerald initiated coverage with an “overweight” rating and a price target of $256.00. Meanwhile, Keefe, Bruyette & Woods upgraded its rating from “underperform” to “market perform” while lowering its target price from $209.00 to $191.00. In additional reports, UBS Group reduced its target from $258.00 to $257.00 and maintained a “buy” rating, while Morgan Stanley adjusted its target downward from $220.00 to $215.00.
Overall, eight analysts have rated Marsh & McLennan with a “Buy” rating, nine have given a “Hold” rating, and one has issued a “Sell” rating. According to data from MarketBeat.com, the consensus rating for the company is “Hold,” with an average target price of $227.69.
For more insights into Marsh & McLennan’s performance and to track the latest developments, stakeholders can visit HoldingsChannel.com for updates on 13F filings and insider trades.
