Citizens & Northern Corp Sells 1,628 Shares of Marsh & McLennan Companies, Inc. $MMC

Citizens & Northern Corp lessened its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 19.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,705 shares of the financial services provider’s stock after selling 1,628 shares during the quarter. Citizens & Northern Corp’s holdings in Marsh & McLennan Companies were worth $1,466,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MMC. Wellington Management Group LLP lifted its holdings in shares of Marsh & McLennan Companies by 54.2% during the 1st quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider’s stock valued at $3,127,193,000 after purchasing an additional 4,505,548 shares during the last quarter. Nuveen LLC acquired a new position in Marsh & McLennan Companies during the 1st quarter valued at about $1,038,594,000. Valeo Financial Advisors LLC raised its stake in Marsh & McLennan Companies by 48,212.9% in the second quarter. Valeo Financial Advisors LLC now owns 2,629,187 shares of the financial services provider’s stock valued at $574,845,000 after buying an additional 2,623,745 shares during the last quarter. Ninety One UK Ltd boosted its holdings in Marsh & McLennan Companies by 153.6% in the first quarter. Ninety One UK Ltd now owns 2,370,678 shares of the financial services provider’s stock worth $578,517,000 after acquiring an additional 1,436,044 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Marsh & McLennan Companies by 5,035.9% during the second quarter. Assenagon Asset Management S.A. now owns 808,800 shares of the financial services provider’s stock worth $176,836,000 after acquiring an additional 793,052 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the sale, the chief executive officer owned 87,681 shares in the company, valued at approximately $18,031,597.65. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Stock Performance

NYSE MMC opened at $188.99 on Wednesday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $185.12 and a fifty-two week high of $248.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $92.59 billion, a P/E ratio of 22.66, a PEG ratio of 2.39 and a beta of 0.81. The stock has a 50-day simple moving average of $202.36 and a two-hundred day simple moving average of $213.34.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.07. Marsh & McLennan Companies had a return on equity of 31.79% and a net margin of 15.60%.The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same period last year, the business earned $1.63 earnings per share. Marsh & McLennan Companies’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, October 2nd. Marsh & McLennan Companies’s payout ratio is currently 43.17%.

Analysts Set New Price Targets

MMC has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Morgan Stanley lowered their price objective on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. UBS Group cut their target price on Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $248.00 to $242.00 in a research report on Thursday, October 9th. Finally, Evercore ISI cut their price objective on Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $234.07.

Marsh & McLennan Companies Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.