Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by TIAA Trust National Association

TIAA Trust National Association lessened its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,032 shares of the financial services provider’s stock after selling 306 shares during the quarter. TIAA Trust National Association’s holdings in Marsh & McLennan Companies were worth $2,272,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Valley National Advisers Inc. raised its stake in shares of Marsh & McLennan Companies by 343.3% during the fourth quarter. Valley National Advisers Inc. now owns 133 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Indiana Trust & Investment Management CO purchased a new position in Marsh & McLennan Companies during the 1st quarter worth $25,000. Private Wealth Management Group LLC acquired a new stake in shares of Marsh & McLennan Companies in the 4th quarter worth $26,000. Headlands Technologies LLC acquired a new position in shares of Marsh & McLennan Companies during the first quarter worth about $27,000. Finally, Cordant Inc. purchased a new position in Marsh & McLennan Companies during the fourth quarter worth about $28,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marsh & McLennan Companies

In other news, Director Oscar Fanjul sold 6,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $209.01, for a total value of $1,254,060.00. Following the completion of the transaction, the director now directly owns 53,393 shares in the company, valued at $11,159,670.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Marsh & McLennan Companies news, SVP Paul Beswick sold 2,169 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $477,180.00. Following the sale, the senior vice president now directly owns 11,861 shares of the company’s stock, valued at approximately $2,609,420. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Oscar Fanjul sold 6,000 shares of Marsh & McLennan Companies stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $209.01, for a total value of $1,254,060.00. Following the transaction, the director now owns 53,393 shares in the company, valued at approximately $11,159,670.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,338 shares of company stock worth $2,187,012. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

MMC has been the subject of several recent analyst reports. Morgan Stanley raised their price target on Marsh & McLennan Companies from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Jefferies Financial Group raised their price objective on shares of Marsh & McLennan Companies from $197.00 to $208.00 and gave the company a “hold” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. increased their target price on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Piper Sandler cut Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 price target on the stock. in a report on Wednesday, April 17th. Finally, Bank of America boosted their target price on Marsh & McLennan Companies from $223.00 to $233.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $214.25.

Marsh & McLennan Companies Stock Up 1.3 %

NYSE MMC traded up $2.71 during trading hours on Monday, reaching $219.46. 648,832 shares of the company traded hands, compared to its average volume of 1,687,476. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.91. Marsh & McLennan Companies, Inc. has a 12 month low of $184.02 and a 12 month high of $221.71. The company has a 50 day moving average of $211.10 and a two-hundred day moving average of $204.02. The stock has a market capitalization of $108.13 billion, a PE ratio of 27.51, a PEG ratio of 3.05 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.01. The business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.31 billion. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. The company’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 firm earned $2.20 EPS. As a group, equities analysts expect that Marsh & McLennan Companies, Inc. will post 8.72 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Thursday, July 25th. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. Marsh & McLennan Companies’s payout ratio is 36.04%.

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.