M&T Bank Corp lowered its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 11.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,334 shares of the financial services provider’s stock after selling 5,910 shares during the period. M&T Bank Corp’s holdings in Marsh & McLennan Companies were worth $5,084,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of MMC. Jackson Wealth Management LLC increased its holdings in Marsh & McLennan Companies by 8.7% during the 2nd quarter. Jackson Wealth Management LLC now owns 15,090 shares of the financial services provider’s stock valued at $1,620,000 after acquiring an additional 1,210 shares in the last quarter. Toronto Dominion Bank increased its holdings in Marsh & McLennan Companies by 0.3% during the 2nd quarter. Toronto Dominion Bank now owns 280,965 shares of the financial services provider’s stock valued at $30,173,000 after acquiring an additional 963 shares in the last quarter. Ativo Capital Management LLC bought a new stake in Marsh & McLennan Companies during the second quarter valued at $1,351,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Marsh & McLennan Companies during the second quarter valued at $1,347,000. Finally, River Wealth Advisors LLC bought a new stake in Marsh & McLennan Companies during the second quarter valued at $501,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.
In other Marsh & McLennan Companies news, CEO Martine Ferland sold 2,940 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $112.90, for a total value of $331,926.00. Following the completion of the sale, the chief executive officer now directly owns 2,763 shares of the company’s stock, valued at approximately $311,942.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.
MMC stock opened at $115.66 on Tuesday. The company has a market capitalization of $58.66 billion, a P/E ratio of 29.06, a PEG ratio of 4.74 and a beta of 0.86. The company has a 50-day simple moving average of $112.14 and a 200 day simple moving average of $110.97. Marsh & McLennan Companies, Inc. has a fifty-two week low of $74.33 and a fifty-two week high of $120.97. The company has a quick ratio of 1.37, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.
Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, October 29th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.09. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.84 billion. Marsh & McLennan Companies had a net margin of 11.91% and a return on equity of 31.20%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. Equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 4.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 13th. Investors of record on Friday, October 9th were issued a $0.465 dividend. This represents a $1.86 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Thursday, October 8th. Marsh & McLennan Companies’s payout ratio is currently 39.91%.
Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Marsh & McLennan Companies from $120.00 to $122.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Bank of America lowered shares of Marsh & McLennan Companies from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $115.00 to $113.00 in a research note on Friday, August 21st. Royal Bank of Canada reiterated a “buy” rating and set a $115.00 target price on shares of Marsh & McLennan Companies in a research note on Monday, July 20th. Credit Suisse Group upped their price target on shares of Marsh & McLennan Companies from $117.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, November 6th. Finally, Piper Sandler lowered shares of Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $130.00 to $103.00 in a research report on Monday, November 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Marsh & McLennan Companies has an average rating of “Hold” and an average price target of $113.67.
Marsh & McLennan Companies Company 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 in two segments, Risk and Insurance Services, and Consulting. 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, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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