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MMC Marsh & McLennan Cos.

Marsh & McLennan Cos., Inc. is a professional services firm, which offers clients advice and solutions in risk, strategy and people. It operates through the following business segments: Risk & Insurance Services, and Consulting. The Risk and Insurance Services segment includes risk management activities, as well as insurance and reinsurance broking and services. The Company conducts business in this segment through Marsh and Guy Carpenter. The Consulting segment includes health, wealth & career services & products, specialized management, economic and brand consulting services. The firm conducts business in this segment through Mercer and Oliver Wyman Group. Marsh & McLennan Cos was founded by Henry W. Marsh and Donald R. McLennan in 1871 and is headquartered in New York, NY.

Company profile

Ticker
MMC
Exchange
Website
CEO
Daniel Glaser
Employees
Incorporated
Location
Fiscal year end
Former names
MARSH & MCLENNAN COMPANIES INC
SEC CIK
IRS number
362668272

MMC stock data

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Calendar

17 Feb 21
21 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 2.09B 2.09B 2.09B 2.09B 2.09B 2.09B
Cash burn (monthly) 99.67M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 369.05M n/a n/a n/a n/a n/a
Cash remaining 1.72B n/a n/a n/a n/a n/a
Runway (months of cash) 17.3 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Mar 21 Mark C Mcgivney Common Stock Sell Dispose S No Yes 115.28 6,125 706.09K 33,678
4 Mar 21 Stacy Mills Common Stock Sell Dispose S No Yes 115.28 1,434 165.31K 2,923.083
4 Mar 21 Scott McDonald Common Stock Sell Dispose S No Yes 115.28 4,437 511.5K 18,763.487
4 Mar 21 Peter C Hearn Common Stock Sell Dispose S No Yes 115.28 4,418 509.31K 9,865.9
4 Mar 21 Daniel S Glaser Common Stock Sell Dispose S No Yes 115.28 27,142 3.13M 101,074

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

87.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 945 914 +3.4%
Opened positions 103 95 +8.4%
Closed positions 72 69 +4.3%
Increased positions 356 321 +10.9%
Reduced positions 310 323 -4.0%
13F shares
Current Prev Q Change
Total value 51.77B 51.11B +1.3%
Total shares 442.94M 441.71M +0.3%
Total puts 206.6K 411.17K -49.8%
Total calls 274.9K 463.01K -40.6%
Total put/call ratio 0.8 0.9 -15.4%
Largest owners
Shares Value Change
Vanguard 42.02M $4.92B -0.8%
BLK Blackrock 41.24M $4.83B +3.0%
TROW T. Rowe Price 33.05M $3.87B +5.4%
STT State Street 22.33M $2.61B +0.2%
Capital International Investors 21.8M $2.55B +0.2%
Wellington Management 18.86M $2.21B +9.0%
Capital World Investors 16.41M $1.92B -0.7%
Massachusetts Financial Services 16.2M $1.9B -0.5%
FMR 12.45M $1.46B +2.6%
Geode Capital Management 8.37M $976.71M +12.5%
Largest transactions
Shares Bought/sold Change
MCQEF Macquarie 164.83K -5.36M -97.0%
Norges Bank 2.42M +2.42M NEW
AustralianSuper Pty 0 -1.99M EXIT
TROW T. Rowe Price 33.05M +1.7M +5.4%
JPM JPMorgan Chase & Co. 6.61M -1.64M -19.9%
Wellington Management 18.86M +1.55M +9.0%
Nippon Life Insurance 2.62M -1.48M -36.1%
Polar Capital 1.41M +1.41M NEW
POLR Polar Capital 0 -1.34M EXIT
Canada Pension Plan Investment Board 3.36M +1.33M +65.7%

Financial report summary

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Risks
  • RISKS RELATING TO THE COMPANY GENERALLY
  • The COVID-19 pandemic could have a material adverse effect on our business operations, results of operations, cash flows and financial position.
  • Our results of operations and investments could be adversely affected by macroeconomic conditions, political events and market conditions.
  • Our business performance and growth plans could be negatively affected if we are not able to develop and implement improvements in technology or respond effectively to the threat of digital disruption and other technological change.
  • We could incur significant liability or our reputation could be damaged if our information systems are breached or we otherwise fail to protect client or Company data or information systems.
  • The costs to comply with, or our failure to comply with, U.S. and foreign laws related to privacy, data security and data protection, such as the E.U. General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), could adversely affect our financial condition, operating results and our reputation.
  • We are subject to significant uninsured exposures arising from errors and omissions, breach of fiduciary duty and other claims.
  • We cannot guarantee that we are or will be in compliance with all current and potentially applicable U.S. federal and state or foreign laws and regulations, and actions by regulatory authorities or changes in legislation and regulation in the jurisdictions in which we operate could have a material adverse effect on our business.
  • Our business or reputation could be harmed by our reliance on third-party providers or introducers.
  • The loss of members of our senior management team or other key colleagues could have a material adverse effect on our business.
  • Failure to maintain our corporate culture could damage our reputation.
  • We face significant competitive pressures in each of our businesses, including from disintermediation, as our competitive landscape continues to evolve.
  • We rely on a large number of vendors and other third parties to perform key functions of our business operations and to provide services to our clients. These vendors and third parties may act in ways that could harm our business.
  • Our inability to successfully recover should we experience a disaster or other business continuity or data recovery problem could cause material financial loss, loss of human capital, regulatory actions, reputational harm or legal liability.
  • We face risks when we acquire businesses.
  • If we are unable to collect our receivables, our results of operations and cash flows could be adversely affected.
  • We may not be able to obtain sufficient financing on favorable terms.
  • Our defined benefit pension plan obligations could cause the Company's financial position, earnings and cash flows to fluctuate.
  • Our significant non-U.S. operations expose us to exchange rate fluctuations and various risks that could impact our business.
  • Our quarterly revenues and profitability may fluctuate significantly.
  • Credit rating downgrades would increase our financing costs and could subject us to operational risk.
  • We have significantly increased our debt as a result of the JLT acquisition, which could adversely affect our financial flexibility.
  • The current U.S. tax regime makes our results more difficult to predict.
  • We are exposed to multiple risks associated with the global nature of our operations.
  • RISKS RELATING TO OUR RISK AND INSURANCE SERVICES SEGMENT
  • Results in our Risk and Insurance Services segment may be adversely affected by a general decline in economic activity.
  • Volatility or declines in premiums and other market trends may significantly impede our ability to grow revenues and profitability.
  • Adverse legal developments and future regulations concerning how intermediaries are compensated by insurers or clients, as well as allegations of anti-competitive behavior or conflicts of interest more broadly, could have a material adverse effect on our business, results of operations and financial condition.
  • RISKS RELATING TO OUR CONSULTING SEGMENT
  • Mercer’s Investments business is subject to a number of risks, including risks related to third-party investment managers, operational risk, conflicts of interest, asset performance and regulatory compliance, that, if realized, could result in significant damage to our business.
  • Revenues for the services provided by our Consulting segment may decline for various reasons, including as a result of changes in economic conditions, the value of equity, debt and other asset classes, our clients’ or an industry's financial condition or government regulation or an accelerated trend away from actively managed investments to passively managed investments.
  • Factors affecting defined benefit pension plans and the services we provide relating to those plans could adversely affect Mercer.
  • The profitability of our Consulting segment may decline if we are unable to achieve or maintain adequate utilization and pricing rates for our consultants.
Content analysis
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