Kingfisher Capital LLC Sells 47 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Kingfisher Capital LLC trimmed its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 995 shares of the financial services provider’s stock after selling 47 shares during the period. Kingfisher Capital LLC’s holdings in Marsh & McLennan Companies were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MMC. Assenagon Asset Management S.A. raised its holdings in Marsh & McLennan Companies by 4,991.4% in 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 acquiring an additional 679,474 shares during the period. FMR LLC boosted its stake in Marsh & McLennan Companies by 2.5% in the 3rd quarter. FMR LLC now owns 21,445,110 shares of the financial services provider’s stock valued at $4,784,190,000 after purchasing an additional 518,185 shares during the period. The Manufacturers Life Insurance Company increased its position in Marsh & McLennan Companies by 127.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 899,716 shares of the financial services provider’s stock worth $200,718,000 after buying an additional 504,897 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Marsh & McLennan Companies by 31,846.5% during the third quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider’s stock worth $95,430,000 after buying an additional 426,425 shares in the last quarter. Finally, Truist Financial Corp grew its stake in shares of Marsh & McLennan Companies by 93.9% in the second quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock valued at $160,563,000 after acquiring an additional 368,970 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MMC. Roth Mkm lifted their price objective on shares of Marsh & McLennan Companies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company reduced their price target on Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 10th. Bank of America lifted their price objective on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods increased their target price on Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. Finally, UBS Group increased their price objective on shares of Marsh & McLennan Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $227.60.

Insiders Place Their Bets

In related news, Director Oscar Fanjul sold 2,500 shares of Marsh & McLennan Companies stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total value of $553,875.00. Following the transaction, the director now directly owns 48,549 shares of the company’s stock, valued at $10,756,030.95. The trade was a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Stock Up 0.2 %

Shares of NYSE:MMC opened at $233.24 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a 52-week low of $184.28 and a 52-week high of $235.21. The company has a market capitalization of $114.55 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 2.81 and a beta of 0.94. The company has a fifty day moving average of $224.06 and a 200-day moving average of $219.50.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, beating the consensus estimate of $1.61 by $0.02. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.71 billion. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $1.57 earnings per share. On average, equities analysts predict that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 4th were issued a $0.815 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a yield of 1.40%. Marsh & McLennan Companies’s payout ratio is 40.15%.

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.