Legacy Capital Wealth Partners LLC Sells 246 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Legacy Capital Wealth Partners LLC reduced its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.2% in the 3rd quarter, Holdings Channel reports. The firm owned 4,468 shares of the financial services provider’s stock after selling 246 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Marsh & McLennan Companies were worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of MMC. Fortitude Family Office LLC boosted its position in shares of Marsh & McLennan Companies by 18.8% during the 3rd quarter. Fortitude Family Office LLC now owns 285 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 45 shares in the last quarter. Kingfisher Capital LLC boosted its holdings in Marsh & McLennan Companies by 4.7% during the second quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 47 shares in the last quarter. Drive Wealth Management LLC grew its stake in shares of Marsh & McLennan Companies by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 49 shares during the period. Legacy Financial Advisors Inc. lifted its position in shares of Marsh & McLennan Companies by 2.3% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock worth $468,000 after buying an additional 49 shares during the period. Finally, Ritholtz Wealth Management boosted its stake in Marsh & McLennan Companies by 0.6% in the 2nd quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock valued at $1,887,000 after buying an additional 51 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.

Insider Buying and Selling

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total value of $553,875.00. Following the completion of the sale, the director now owns 48,549 shares of the company’s stock, valued at approximately $10,756,030.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on MMC shares. Barclays began coverage on Marsh & McLennan Companies in a report on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 price objective for the company. The Goldman Sachs Group set a $220.00 target price on Marsh & McLennan Companies and gave the stock a “sell” rating in a report on Friday, October 18th. Jefferies Financial Group raised their price target on Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. 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, Royal Bank of Canada lifted their price target on Marsh & McLennan Companies from $232.00 to $242.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Marsh & McLennan Companies currently has a consensus rating of “Hold” and an average target price of $225.33.

Marsh & McLennan Companies Stock Up 1.0 %

Shares of NYSE MMC opened at $225.36 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $110.68 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 3.32 and a beta of 0.94. The firm’s 50-day moving average is $224.83 and its 200-day moving average is $217.07. Marsh & McLennan Companies, Inc. has a 1 year low of $184.28 and a 1 year high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.71 billion. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $1.57 EPS. Equities analysts expect that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The business 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 of this dividend is Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.45%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 40.15%.

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.