Penobscot Investment Management Company Inc. Sells 178 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Penobscot Investment Management Company Inc. lowered its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,732 shares of the financial services provider’s stock after selling 178 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Marsh & McLennan Companies were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MMC. Kestra Private Wealth Services LLC boosted its holdings in shares of Marsh & McLennan Companies by 23.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,537 shares of the financial services provider’s stock worth $1,807,000 after buying an additional 1,793 shares during the last quarter. Ledyard National Bank grew its position in shares of Marsh & McLennan Companies by 58.0% during the 4th quarter. Ledyard National Bank now owns 2,584 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 949 shares during the period. Van ECK Associates Corp raised its holdings in shares of Marsh & McLennan Companies by 4.4% in the 4th quarter. Van ECK Associates Corp now owns 85,834 shares of the financial services provider’s stock worth $16,263,000 after purchasing an additional 3,579 shares during the period. McAdam LLC lifted its stake in Marsh & McLennan Companies by 3.1% in the fourth quarter. McAdam LLC now owns 3,744 shares of the financial services provider’s stock valued at $709,000 after purchasing an additional 113 shares during the last quarter. Finally, Mather Group LLC. increased its position in Marsh & McLennan Companies by 4.2% in the fourth quarter. Mather Group LLC. now owns 1,854 shares of the financial services provider’s stock worth $351,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Trading Up 0.2 %

Shares of NYSE MMC opened at $199.73 on Thursday. The company has a market cap of $98.41 billion, a PE ratio of 25.35, a P/E/G ratio of 3.33 and a beta of 0.90. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14. The firm’s 50 day moving average price is $203.03 and its 200-day moving average price is $197.32. Marsh & McLennan Companies, Inc. has a 52-week low of $171.47 and a 52-week high of $209.20.

Marsh & McLennan Companies (NYSE:MMC) last issued its earnings results on Thursday, April 18th. The financial services provider reported $2.89 EPS for the quarter, beating the consensus estimate of $2.80 by $0.09. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.38 billion. Marsh & McLennan Companies had a return on equity of 34.14% and a net margin of 16.84%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $2.53 EPS. On average, equities research analysts expect that Marsh & McLennan Companies, Inc. will post 8.69 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 4th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $2.84 annualized dividend and a dividend yield of 1.42%. Marsh & McLennan Companies’s payout ratio is 36.04%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MMC shares. Royal Bank of Canada boosted their price objective on Marsh & McLennan Companies from $208.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, April 19th. Jefferies Financial Group lifted their price objective on shares of Marsh & McLennan Companies from $197.00 to $208.00 and gave the company a “hold” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. raised their price target on Marsh & McLennan Companies from $190.00 to $198.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. The Goldman Sachs Group cut Marsh & McLennan Companies from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $215.00 to $185.00 in a report on Monday, January 8th. Finally, Morgan Stanley lifted their target price on Marsh & McLennan Companies from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $207.69.

Insiders Place Their Bets

In other news, VP Stacy Mills sold 1,461 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $209.16, for a total value of $305,582.76. Following the transaction, the vice president now directly owns 2,923 shares in the company, valued at approximately $611,374.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Marsh & McLennan Companies news, CEO Dean Michael Klisura sold 9,994 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $205.00, for a total value of $2,048,770.00. Following the completion of the sale, the chief executive officer now owns 20,935 shares in the company, valued at $4,291,675. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Stacy Mills sold 1,461 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $209.16, for a total transaction of $305,582.76. Following the completion of the sale, the vice president now directly owns 2,923 shares of the company’s stock, valued at $611,374.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,751 shares of company stock valued at $7,448,163. Company insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.