Harbour Trust & Investment Management Co Sells 236 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Harbour Trust & Investment Management Co cut its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,296 shares of the financial services provider’s stock after selling 236 shares during the quarter. Marsh & McLennan Companies accounts for about 1.5% of Harbour Trust & Investment Management Co’s portfolio, making the stock its 18th biggest holding. Harbour Trust & Investment Management Co’s holdings in Marsh & McLennan Companies were worth $13,451,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in Marsh & McLennan Companies in the second quarter valued at approximately $3,710,000. Czech National Bank grew its stake in Marsh & McLennan Companies by 6.7% in the third quarter. Czech National Bank now owns 100,175 shares of the financial services provider’s stock valued at $22,348,000 after purchasing an additional 6,282 shares in the last quarter. Raymond James & Associates grew its stake in Marsh & McLennan Companies by 2.6% in the second quarter. Raymond James & Associates now owns 925,411 shares of the financial services provider’s stock valued at $195,003,000 after purchasing an additional 23,133 shares in the last quarter. Nordea Investment Management AB grew its stake in Marsh & McLennan Companies by 12.4% in the first quarter. Nordea Investment Management AB now owns 906,976 shares of the financial services provider’s stock valued at $187,218,000 after purchasing an additional 100,378 shares in the last quarter. Finally, Kinsale Capital Group Inc. grew its stake in Marsh & McLennan Companies by 26.8% in the first quarter. Kinsale Capital Group Inc. now owns 18,845 shares of the financial services provider’s stock valued at $3,882,000 after purchasing an additional 3,984 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MMC shares. JPMorgan Chase & Co. raised their price objective on Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Roth Mkm raised their price objective on Marsh & McLennan Companies from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods raised their price objective on Marsh & McLennan Companies from $209.00 to $212.00 and gave the company an “underperform” rating in a research report on Tuesday. UBS Group raised their price objective on Marsh & McLennan Companies from $255.00 to $259.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Bank of America raised their price objective on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $225.33.

Insider Activity

In other news, CFO Mark C. Mcgivney sold 10,265 shares of Marsh & McLennan Companies stock in a transaction on 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 transaction, the chief financial officer now owns 33,678 shares in the company, valued at approximately $7,625,035.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Mark C. Mcgivney sold 10,265 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the sale, the chief financial officer now owns 33,678 shares in the company, valued at $7,625,035.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark C. Mcgivney sold 5,200 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $225.03, for a total value of $1,170,156.00. Following the sale, the chief financial officer now owns 33,678 shares in the company, valued at $7,578,560.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,566 shares of company stock worth $4,420,137. Insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Price Performance

Marsh & McLennan Companies stock opened at $222.48 on Friday. The stock’s fifty day moving average price is $225.51 and its two-hundred day moving average price is $215.39. Marsh & McLennan Companies, Inc. has a one year low of $184.02 and a one year high of $232.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market cap of $109.62 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 3.58 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the company posted $1.57 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts expect that Marsh & McLennan Companies, Inc. will post 8.73 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 4th will be paid a $0.815 dividend. The ex-dividend date is Friday, October 4th. This represents a $3.26 annualized dividend and a dividend yield of 1.47%. Marsh & McLennan Companies’s payout ratio is 41.37%.

About Marsh & McLennan Companies

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.