First Citizens Bank & Trust Co. Sells 574 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

First Citizens Bank & Trust Co. cut its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,133 shares of the financial services provider’s stock after selling 574 shares during the period. First Citizens Bank & Trust Co.’s holdings in Marsh & McLennan Companies were worth $3,599,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MMC. Kingfisher Capital LLC raised its stake in Marsh & McLennan Companies by 4.7% in 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 increased its holdings in 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 buying an additional 49 shares during the period. Legacy Financial Advisors Inc. lifted its holdings 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 acquiring an additional 49 shares during the period. Ritholtz Wealth Management boosted its position in shares of Marsh & McLennan Companies by 0.6% during the 2nd quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock worth $1,887,000 after acquiring an additional 51 shares in the last quarter. Finally, X Square Capital LLC raised its position in Marsh & McLennan Companies by 1.8% during the second quarter. X Square Capital LLC now owns 2,957 shares of the financial services provider’s stock valued at $623,000 after purchasing an additional 51 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MMC shares. 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 research note on Friday. Barclays initiated coverage on Marsh & McLennan Companies in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 target price for the company. Jefferies Financial Group raised their price target on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group set a $220.00 price objective on shares of Marsh & McLennan Companies and gave the stock a “sell” rating in a research report on Friday. Finally, Wells Fargo & Company decreased their target price on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Marsh & McLennan Companies has a consensus rating of “Hold” and an average target price of $220.13.

Marsh & McLennan Companies Stock Down 1.0 %

Shares of MMC opened at $224.66 on Friday. Marsh & McLennan Companies, Inc. has a 12 month low of $184.02 and a 12 month high of $232.32. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $110.70 billion, a PE ratio of 28.51, a PEG ratio of 3.58 and a beta of 0.94. The stock’s 50-day moving average price is $225.28 and its two-hundred day moving average price is $214.99.

Marsh & McLennan Companies (NYSE:MMC) last released 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. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the business earned $1.57 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. On average, analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.73 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed 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. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio is 41.37%.

Insider Buying and Selling

In other Marsh & McLennan Companies news, VP Stacy Mills sold 4,101 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $225.77, for a total value of $925,882.77. Following the transaction, the vice president now directly owns 2,923 shares of the company’s stock, valued at approximately $659,925.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 transaction, the vice president now owns 2,923 shares in the company, valued at $659,925.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark C. Mcgivney sold 5,200 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $225.03, for a total transaction of $1,170,156.00. Following the completion of the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at $7,578,560.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,566 shares of company stock valued at $4,420,137 over the last 90 days. Company insiders own 0.30% of the company’s stock.

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.