New York State Common Retirement Fund Reduces Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

New York State Common Retirement Fund cut its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 670,888 shares of the financial services provider’s stock after selling 7,294 shares during the period. New York State Common Retirement Fund’s holdings in Marsh & McLennan Companies were worth $142,503,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Prossimo Advisors LLC raised its stake in Marsh & McLennan Companies by 4.5% during the 4th quarter. Prossimo Advisors LLC now owns 1,910 shares of the financial services provider’s stock worth $406,000 after acquiring an additional 83 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its stake in Marsh & McLennan Companies by 33.5% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 19,434 shares of the financial services provider’s stock worth $4,128,000 after buying an additional 4,874 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Marsh & McLennan Companies by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,008 shares of the financial services provider’s stock valued at $1,913,000 after acquiring an additional 425 shares in the last quarter. Citizens & Northern Corp grew its position in shares of Marsh & McLennan Companies by 5.1% during the fourth quarter. Citizens & Northern Corp now owns 8,282 shares of the financial services provider’s stock worth $1,759,000 after purchasing an additional 404 shares in the last quarter. Finally, Empower Advisory Group LLC boosted its stake in Marsh & McLennan Companies by 4.6% in the 4th quarter. Empower Advisory Group LLC now owns 3,487 shares of the financial services provider’s stock worth $741,000 after purchasing an additional 152 shares during the period. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

NYSE MMC opened at $230.04 on Wednesday. The company has a market cap of $112.98 billion, a PE ratio of 28.09, a P/E/G ratio of 2.36 and a beta of 0.96. The firm’s 50 day moving average price is $217.29 and its 200-day moving average price is $222.03. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. Marsh & McLennan Companies, Inc. has a 52-week low of $196.17 and a 52-week high of $235.50.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.12. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. Sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 9.6 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, January 30th were given a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, January 30th. Marsh & McLennan Companies’s payout ratio is currently 39.80%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Evercore ISI reissued an “outperform” rating and issued a $242.00 target price on shares of Marsh & McLennan Companies in a report on Monday, November 25th. Keefe, Bruyette & Woods decreased their price target on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating on the stock in a research note on Monday, February 3rd. UBS Group lifted their price objective on shares of Marsh & McLennan Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. BMO Capital Markets upped their target price on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price objective on Marsh & McLennan Companies from $212.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus target price of $230.44.

About Marsh & McLennan Companies

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.