Prestige Wealth Management Group LLC Reduces Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Prestige Wealth Management Group LLC lessened its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 47.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,369 shares of the financial services provider’s stock after selling 1,244 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Marsh & McLennan Companies were worth $305,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MMC. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Marsh & McLennan Companies during the 2nd quarter valued at $3,710,000. Czech National Bank lifted its holdings in Marsh & McLennan Companies by 6.7% during the third quarter. Czech National Bank now owns 100,175 shares of the financial services provider’s stock valued at $22,348,000 after purchasing an additional 6,282 shares during the last quarter. Raymond James & Associates increased its stake in shares of Marsh & McLennan Companies by 2.6% in the second quarter. Raymond James & Associates now owns 925,411 shares of the financial services provider’s stock worth $195,003,000 after purchasing an additional 23,133 shares in the last quarter. Kinsale Capital Group Inc. raised its position in shares of Marsh & McLennan Companies by 16.8% in the third quarter. Kinsale Capital Group Inc. now owns 27,004 shares of the financial services provider’s stock valued at $6,024,000 after purchasing an additional 3,880 shares during the period. Finally, Citigroup Inc. boosted its holdings in Marsh & McLennan Companies by 4.8% in the 3rd quarter. Citigroup Inc. now owns 508,245 shares of the financial services provider’s stock worth $113,384,000 after buying an additional 23,445 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

Shares of NYSE:MMC opened at $218.17 on Tuesday. The company’s fifty day moving average is $224.70 and its 200 day moving average is $220.65. Marsh & McLennan Companies, Inc. has a 52 week low of $184.28 and a 52 week high of $235.50. The stock has a market cap of $107.15 billion, a PE ratio of 26.87, a PEG ratio of 2.71 and a beta of 0.94. 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 (NYSE:MMC) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.02. The business had revenue of $5.70 billion during 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 firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.57 EPS. Research analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.68 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 4th were issued a $0.815 dividend. This represents a $3.26 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 40.15%.

Insider Transactions at Marsh & McLennan Companies

In other news, Director Oscar Fanjul sold 2,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,756,030.95. This trade represents a 4.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BMO Capital Markets boosted 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 report on Tuesday, October 22nd. Royal Bank of Canada raised their target price on Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. UBS Group raised their price objective on shares of Marsh & McLennan Companies from $255.00 to $259.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group set a $220.00 target price on shares of Marsh & McLennan Companies and gave the stock a “sell” rating in a report on Friday, October 18th. Finally, Barclays boosted their price target on shares of Marsh & McLennan Companies from $236.00 to $246.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Two equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $227.60.

Marsh & McLennan Companies 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.