Kentucky Retirement Systems Sells 2,872 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Kentucky Retirement Systems reduced its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 7.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 34,258 shares of the financial services provider’s stock after selling 2,872 shares during the period. Kentucky Retirement Systems’ holdings in Marsh & McLennan Companies were worth $7,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC grew its holdings in Marsh & McLennan Companies by 18.8% during the 3rd quarter. Fortitude Family Office LLC now owns 285 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 45 shares in the last quarter. Kingfisher Capital LLC raised its position in Marsh & McLennan Companies by 4.7% during the second quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 47 shares in the last quarter. Drive Wealth Management LLC lifted its stake in shares of Marsh & McLennan Companies by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 49 shares during the period. Legacy Financial Advisors Inc. boosted its stake 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 worth $468,000 after acquiring an additional 49 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in Marsh & McLennan Companies by 0.6% during the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock worth $1,887,000 after purchasing an additional 51 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Trading Up 0.3 %

NYSE:MMC opened at $222.14 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.89. Marsh & McLennan Companies, Inc. has a 52-week low of $184.28 and a 52-week high of $232.32. The stock’s 50 day moving average price is $224.31 and its 200 day moving average price is $217.89. The company has a market capitalization of $109.10 billion, a PE ratio of 27.36, a P/E/G ratio of 3.36 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.57 EPS. On average, research analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were paid a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 40.15%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their price target 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. Jefferies Financial Group raised their price objective on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Barclays began coverage on Marsh & McLennan Companies in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets boosted their price target on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $225.33.

Insider Buying and Selling

In related news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were 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 document filed with the SEC, which is available at this link. Corporate insiders own 0.30% 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.