Fort Pitt Capital Group LLC Lowers Holdings in Marsh & McLennan Companies, Inc. (MMC)

Fort Pitt Capital Group LLC lessened its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 241,329 shares of the financial services provider’s stock after selling 1,555 shares during the period. Marsh & McLennan Companies makes up 1.6% of Fort Pitt Capital Group LLC’s portfolio, making the stock its 27th biggest position. Fort Pitt Capital Group LLC’s holdings in Marsh & McLennan Companies were worth $19,642,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in shares of Marsh & McLennan Companies by 273.9% in the fourth quarter. Meeder Asset Management Inc. now owns 24,006 shares of the financial services provider’s stock worth $1,955,000 after acquiring an additional 17,586 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in Marsh & McLennan Companies by 4.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 95,553 shares of the financial services provider’s stock valued at $7,777,000 after buying an additional 4,502 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Marsh & McLennan Companies during the 4th quarter worth approximately $102,000. Aperio Group LLC raised its position in shares of Marsh & McLennan Companies by 4.7% during the 4th quarter. Aperio Group LLC now owns 234,725 shares of the financial services provider’s stock worth $19,104,000 after purchasing an additional 10,502 shares during the period. Finally, Harrington Investments INC raised its position in shares of Marsh & McLennan Companies by 1.8% during the 4th quarter. Harrington Investments INC now owns 32,886 shares of the financial services provider’s stock worth $2,677,000 after purchasing an additional 589 shares during the period. 85.89% of the stock is owned by institutional investors.

Marsh & McLennan Companies, Inc. (NYSE MMC) opened at $84.69 on Monday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $69.33 and a fifty-two week high of $86.54. The stock has a market capitalization of $43,107.21, a P/E ratio of 21.60, a P/E/G ratio of 1.53 and a beta of 1.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.30 and a quick ratio of 1.37.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. Marsh & McLennan Companies had a return on equity of 28.80% and a net margin of 10.64%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the company posted $0.89 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. analysts anticipate that Marsh & McLennan Companies, Inc. will post 4.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Tuesday, January 30th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 52.26%.

MMC has been the topic of a number of research reports. Barclays increased their price target on Marsh & McLennan Companies from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Wells Fargo & Co set a $91.00 price target on Marsh & McLennan Companies and gave the stock a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research cut Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Jefferies Group reiterated a “hold” rating on shares of Marsh & McLennan Companies in a research report on Sunday, October 29th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $88.00 price target on shares of Marsh & McLennan Companies in a research report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $87.09.

In related news, insider Daniel S. Glaser sold 618,557 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $82.80, for a total value of $51,216,519.60. Following the completion of the transaction, the insider now directly owns 279,367 shares of the company’s stock, valued at approximately $23,131,587.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.46% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Fort Pitt Capital Group LLC Lowers Holdings in Marsh & McLennan Companies, Inc. (MMC)” was posted by Stock Observer and is the property of of Stock Observer. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.thestockobserver.com/2018/02/05/fort-pitt-capital-group-llc-lowers-holdings-in-marsh-mclennan-companies-inc-mmc.html.

About Marsh & McLennan Companies

Marsh & McLennan Companies, Inc is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy.

Want to see what other hedge funds are holding MMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MMC).

Institutional Ownership by Quarter for Marsh & McLennan Companies (NYSE:MMC)

Receive News & Ratings for Marsh & McLennan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marsh & McLennan Companies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply