Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC lessened its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,227 shares of the financial services provider’s stock after selling 261 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Marsh & McLennan Companies were worth $2,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MMC. Headlands Technologies LLC acquired a new stake in shares of Marsh & McLennan Companies during the first quarter worth $27,000. Carmichael Hill & Associates Inc. boosted its holdings in shares of 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 valued at $29,000 after acquiring an additional 60 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Marsh & McLennan Companies during the third quarter worth about $31,000. Crewe Advisors LLC raised its holdings in Marsh & McLennan Companies by 100.0% during 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. Finally, Iron Horse Wealth Management LLC boosted its holdings in Marsh & McLennan Companies by 712.5% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 195 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 171 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MMC. Jefferies Financial Group raised their price target on Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Royal Bank of Canada raised their price objective on shares of 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. Wells Fargo & Company dropped their target price on shares of 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. Finally, UBS Group boosted their price target on Marsh & McLennan Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Marsh & McLennan Companies presently has a consensus rating of “Hold” and an average price target of $225.33.

Marsh & McLennan Companies Price Performance

NYSE:MMC opened at $221.16 on Tuesday. The firm has a market cap of $108.62 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 3.26 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 12-month low of $184.28 and a 12-month high of $232.32. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average is $225.09 and its two-hundred day moving average is $216.68.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. Marsh & McLennan Companies’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.57 earnings per share. Research analysts expect 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 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 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, October 4th. Marsh & McLennan Companies’s payout ratio is 40.15%.

Insider Activity

In related news, Director Oscar Fanjul sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total value of $553,875.00. Following the completion of the sale, the director now directly owns 48,549 shares in the company, valued at approximately $10,756,030.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

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.