Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership reduced its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 125,241 shares of the financial services provider’s stock after selling 2,070 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Marsh & McLennan Companies were worth $27,940,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingfisher Capital LLC raised its position in Marsh & McLennan Companies by 4.7% in the 2nd quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 47 shares during the last quarter. Drive Wealth Management LLC raised its position in shares of Marsh & McLennan Companies by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 49 shares during the last quarter. Legacy Financial Advisors Inc. raised its position in shares of Marsh & McLennan Companies by 2.3% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock valued at $468,000 after acquiring an additional 49 shares during the last quarter. Ritholtz Wealth Management raised its position in shares of Marsh & McLennan Companies by 0.6% during the 2nd quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock valued at $1,887,000 after acquiring an additional 51 shares during the last quarter. Finally, X Square Capital LLC raised its position in shares of Marsh & McLennan Companies by 1.8% during the 2nd quarter. X Square Capital LLC now owns 2,957 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 51 shares during the last quarter. 87.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MMC has been the subject of several recent research reports. Royal Bank of Canada upped their target price on shares of Marsh & McLennan Companies from $232.00 to $242.00 and gave the company a “sector perform” rating in a research report on Friday. The Goldman Sachs Group set a $220.00 target price on shares of Marsh & McLennan Companies and gave the stock a “sell” rating in a research note on Friday. Wells Fargo & Company decreased their price objective on Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their price objective on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus price target of $221.93.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock traded down $2.61 during trading on Monday, reaching $222.05. 227,522 shares of the company’s stock traded hands, compared to its average volume of 1,664,157. The company has a market capitalization of $109.41 billion, a P/E ratio of 28.51, a PEG ratio of 3.58 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.91. The firm’s 50-day moving average is $225.28 and its 200 day moving average is $215.07. Marsh & McLennan Companies, Inc. has a 1 year low of $184.02 and a 1 year high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.02. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the prior year, the company posted $1.57 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts expect that Marsh & McLennan Companies, Inc. will post 8.73 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 4th will be paid a $0.815 dividend. This represents a $3.26 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio is presently 41.37%.

Insiders Place Their Bets

In other news, VP Stacy Mills sold 4,101 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $225.77, for a total transaction of $925,882.77. Following the sale, the vice president now owns 2,923 shares in the company, valued at approximately $659,925.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Mark C. Mcgivney sold 10,265 shares of Marsh & McLennan Companies stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the completion of the transaction, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at $7,625,035.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Stacy Mills sold 4,101 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $225.77, for a total transaction of $925,882.77. Following the sale, the vice president now owns 2,923 shares of the company’s stock, valued at $659,925.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,566 shares of company stock worth $4,420,137 in the last three months. 0.30% of the stock is currently owned by corporate insiders.

About Marsh & McLennan Companies

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.