Burke & Herbert Bank & Trust Co. Reduces Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Burke & Herbert Bank & Trust Co. trimmed its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 6.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 928 shares of the financial services provider’s stock after selling 65 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Marsh & McLennan Companies were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MMC. Kingfisher Capital LLC raised its stake in Marsh & McLennan Companies by 4.7% during the 2nd 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 during the period. Drive Wealth Management LLC increased its stake in shares of Marsh & McLennan Companies by 3.7% in the second quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 49 shares during the last quarter. Legacy Financial Advisors Inc. increased its stake in shares of Marsh & McLennan Companies by 2.3% in the second 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 last quarter. Ritholtz Wealth Management increased its stake in shares of Marsh & McLennan Companies by 0.6% in the second 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 during the last quarter. Finally, X Square Capital LLC increased its stake in shares of Marsh & McLennan Companies by 1.8% in the second quarter. X Square Capital LLC now owns 2,957 shares of the financial services provider’s stock worth $623,000 after acquiring an additional 51 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Wells Fargo & Company lowered 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 report on Thursday, October 10th. Barclays initiated coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a research report on Tuesday. Finally, BMO Capital Markets increased their target price on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the stock a “market perform” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $225.33.

Marsh & McLennan Companies Stock Down 0.5 %

MMC stock opened at $221.31 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. Marsh & McLennan Companies, Inc. has a 52-week low of $184.02 and a 52-week high of $232.32. The company has a 50-day moving average of $225.54 and a two-hundred day moving average of $215.44. The stock has a market capitalization of $108.69 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 3.33 and a beta of 0.94.

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

Marsh & McLennan Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 4th will be paid a $0.815 dividend. This represents a $3.26 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, October 4th. Marsh & McLennan Companies’s payout ratio is presently 40.15%.

Insider Activity at Marsh & McLennan Companies

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

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.