Raymond James Trust N.A. Decreases Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Raymond James Trust N.A. trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,651 shares of the financial services provider’s stock after selling 921 shares during the period. Raymond James Trust N.A.’s holdings in Marsh & McLennan Companies were worth $2,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMC. Norges Bank bought a new position in Marsh & McLennan Companies during the 4th quarter worth approximately $1,048,077,000. Price T Rowe Associates Inc. MD increased its stake in shares of Marsh & McLennan Companies by 32.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,243,245 shares of the financial services provider’s stock worth $1,940,789,000 after buying an additional 2,526,701 shares during the period. Assenagon Asset Management S.A. raised its holdings in Marsh & McLennan Companies by 4,991.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider’s stock valued at $146,047,000 after buying an additional 679,474 shares during the last quarter. Jennison Associates LLC boosted its position in Marsh & McLennan Companies by 229.6% during the 1st quarter. Jennison Associates LLC now owns 932,452 shares of the financial services provider’s stock valued at $192,066,000 after buying an additional 649,505 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of Marsh & McLennan Companies by 322.7% in the fourth quarter. Corient Private Wealth LLC now owns 761,238 shares of the financial services provider’s stock valued at $144,232,000 after acquiring an additional 581,131 shares during the period. 87.99% of the stock is owned by institutional investors.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 10,265 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares in the company, valued at approximately $7,625,035.98. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Stacy Mills sold 4,101 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $225.77, for a total transaction of $925,882.77. Following the completion of the sale, the vice president now owns 2,923 shares of the company’s stock, valued at approximately $659,925.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark C. Mcgivney sold 10,265 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $226.41, for a total value of $2,324,098.65. Following the completion of the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at approximately $7,625,035.98. The disclosure for this sale can be found here. Insiders sold 27,735 shares of company stock worth $6,151,377 over the last three months. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MMC has been the topic of several recent analyst reports. Bank of America raised their target price on Marsh & McLennan Companies from $223.00 to $233.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Royal Bank of Canada raised their price target on Marsh & McLennan Companies from $228.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. boosted their price objective on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, Roth Mkm raised their target price on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $214.25.

Marsh & McLennan Companies Stock Down 1.0 %

Shares of NYSE MMC traded down $2.15 during midday trading on Friday, hitting $223.32. The stock had a trading volume of 1,051,957 shares, compared to its average volume of 1,672,724. The company has a market cap of $110.04 billion, a P/E ratio of 28.34, a PEG ratio of 3.20 and a beta of 0.94. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $217.41 and its 200-day moving average is $208.63. Marsh & McLennan Companies, Inc. has a 52 week low of $184.02 and a 52 week high of $227.63.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, July 18th. The financial services provider reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.01. The business had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.31 billion. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 EPS. As a group, analysts predict that Marsh & McLennan Companies, Inc. will post 8.73 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a dividend of $0.815 per share. The ex-dividend date was Thursday, July 25th. This represents a $3.26 annualized dividend and a yield of 1.46%. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. Marsh & McLennan Companies’s dividend payout ratio is currently 41.37%.

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 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.