Keybank National Association OH lowered its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 18.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,207 shares of the financial services provider’s stock after selling 11,837 shares during the quarter. Keybank National Association OH’s holdings in Marsh & McLennan Companies were worth $5,223,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of MMC. Lenox Wealth Advisors LLC acquired a new position in Marsh & McLennan Companies in the second quarter valued at $26,000. Coastal Capital Group Inc. acquired a new position in shares of Marsh & McLennan Companies during the second quarter worth about $30,000. Meeder Asset Management Inc. acquired a new position in shares of Marsh & McLennan Companies during the second quarter worth about $30,000. Capital Advisors Ltd. LLC acquired a new position in shares of Marsh & McLennan Companies during the second quarter worth about $31,000. Finally, Gradient Investments LLC acquired a new position in shares of Marsh & McLennan Companies during the third quarter worth about $34,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.
A number of research analysts have commented on MMC shares. ValuEngine cut Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Co reaffirmed a “hold” rating and set a $95.00 target price on shares of Marsh & McLennan Companies in a research report on Tuesday, October 29th. Finally, Morgan Stanley lifted their target price on Marsh & McLennan Companies from $101.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Marsh & McLennan Companies currently has an average rating of “Hold” and an average price target of $99.33.
Shares of NYSE MMC traded up $0.12 during midday trading on Friday, reaching $103.31. 1,418,139 shares of the company’s stock were exchanged, compared to its average volume of 1,676,807. Marsh & McLennan Companies, Inc. has a 52-week low of $74.30 and a 52-week high of $104.86. The stock has a market capitalization of $51.32 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 1.78 and a beta of 0.75. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.14. The business’s fifty day moving average price is $99.57 and its two-hundred day moving average price is $98.54.
Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.07. Marsh & McLennan Companies had a return on equity of 29.40% and a net margin of 9.34%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. Analysts predict that Marsh & McLennan Companies, Inc. will post 4.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, October 10th. Marsh & McLennan Companies’s payout ratio is 41.84%.
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 in two segments, Risk and Insurance Services, and Consulting. 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, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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