First Citizens Bank & Trust Co. Sells 403 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

First Citizens Bank & Trust Co. cut its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,730 shares of the financial services provider’s stock after selling 403 shares during the period. First Citizens Bank & Trust Co.’s holdings in Marsh & McLennan Companies were worth $3,341,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in Marsh & McLennan Companies by 7,320.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,108,758 shares of the financial services provider’s stock worth $235,511,000 after acquiring an additional 1,093,817 shares during the last quarter. FMR LLC lifted its position in Marsh & McLennan Companies by 2.5% during the 3rd quarter. FMR LLC now owns 21,445,110 shares of the financial services provider’s stock worth $4,784,190,000 after acquiring an additional 518,185 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Marsh & McLennan Companies by 127.9% during the third quarter. The Manufacturers Life Insurance Company now owns 899,716 shares of the financial services provider’s stock valued at $200,718,000 after buying an additional 504,897 shares during the last quarter. International Assets Investment Management LLC raised its position 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 valued at $95,430,000 after buying an additional 426,425 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Marsh & McLennan Companies by 93.9% during the second quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock valued at $160,563,000 after buying an additional 368,970 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total transaction of $553,875.00. Following the sale, the director now directly owns 48,549 shares of the company’s stock, valued at $10,756,030.95. This represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Roth Mkm upped their price objective on shares of Marsh & McLennan Companies from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Barclays upped their price objective on shares of Marsh & McLennan Companies from $236.00 to $246.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. UBS Group increased their price target on shares of Marsh & McLennan Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods increased their price target on shares of Marsh & McLennan Companies from $212.00 to $214.00 and gave the stock an “underperform” rating in a research report on Friday, January 10th. Finally, BMO Capital Markets increased their price target 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, October 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Marsh & McLennan Companies presently has an average rating of “Hold” and an average target price of $228.60.

Marsh & McLennan Companies Price Performance

Shares of Marsh & McLennan Companies stock opened at $218.94 on Monday. 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 stock has a market capitalization of $107.53 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 2.27 and a beta of 0.96. Marsh & McLennan Companies, Inc. has a 1-year low of $188.31 and a 1-year high of $235.50. The firm’s 50-day moving average price is $218.00 and its two-hundred day moving average price is $221.30.

Marsh & McLennan Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 30th will be paid a dividend of $0.815 per share. The ex-dividend date is Thursday, January 30th. This represents a $3.26 annualized dividend and a dividend yield of 1.49%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 40.15%.

Marsh & McLennan Companies Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.