PNC Financial Services Group Inc. Has $131.06 Million Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

PNC Financial Services Group Inc. boosted its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587,472 shares of the financial services provider’s stock after buying an additional 21,181 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Marsh & McLennan Companies were worth $131,059,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MMC. Carmichael Hill & Associates Inc. boosted its stake in Marsh & McLennan Companies by 85.7% in the third quarter. Carmichael Hill & Associates Inc. now owns 130 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 60 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Marsh & McLennan Companies in the third quarter worth $31,000. Crewe Advisors LLC boosted its stake in Marsh & McLennan Companies by 100.0% in the second quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 80 shares in the last quarter. Iron Horse Wealth Management LLC boosted its stake in Marsh & McLennan Companies by 712.5% in the second quarter. Iron Horse Wealth Management LLC now owns 195 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 171 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Marsh & McLennan Companies in the second quarter worth $41,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Down 1.3 %

Shares of Marsh & McLennan Companies stock opened at $220.73 on Wednesday. Marsh & McLennan Companies, Inc. has a 1 year low of $184.28 and a 1 year high of $232.32. The business has a 50-day moving average of $223.95 and a two-hundred day moving average of $218.47. The company has a market capitalization of $108.41 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 3.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly 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 return on equity of 32.65% and a net margin of 16.82%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the company earned $1.57 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 4th were issued a $0.815 dividend. The ex-dividend date was Friday, October 4th. This represents a $3.26 annualized dividend and a dividend yield of 1.48%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 40.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Barclays assumed coverage on Marsh & McLennan Companies in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 price objective on the stock. Jefferies Financial Group upped their price target on Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada upped their price target on Marsh & McLennan Companies from $232.00 to $242.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Roth Mkm upped their price target on Marsh & McLennan Companies from $220.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America upped their price target on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Marsh & McLennan Companies presently has an average rating of “Hold” and an average target price of $225.33.

Insider Transactions at Marsh & McLennan Companies

In other news, Director Oscar Fanjul sold 2,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total transaction of $553,875.00. Following the completion of the transaction, the director now directly owns 48,549 shares of the company’s stock, valued at $10,756,030.95. This represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by insiders.

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.