Cyndeo Wealth Partners LLC Has $4.06 Million Stock Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Cyndeo Wealth Partners LLC lessened its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 30.4% in the third quarter, HoldingsChannel reports. The firm owned 18,213 shares of the financial services provider’s stock after selling 7,949 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Marsh & McLennan Companies were worth $4,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kingfisher Capital LLC increased its holdings in shares of 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 worth $220,000 after acquiring an additional 47 shares during the last quarter. Drive Wealth Management LLC raised its position 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 valued at $291,000 after purchasing an additional 49 shares during the period. Legacy Financial Advisors Inc. boosted 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 buying an additional 49 shares during the period. Ritholtz Wealth Management grew 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 during the last quarter. Finally, X Square Capital LLC raised its holdings in Marsh & McLennan Companies by 1.8% in the 2nd quarter. X Square Capital LLC now owns 2,957 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 51 shares during the period. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Trading Down 1.0 %

Shares of Marsh & McLennan Companies stock opened at $224.66 on Friday. The firm has a market capitalization of $110.70 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.58 and a beta of 0.94. 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 firm’s 50 day moving average is $225.28 and its 200 day moving average is $214.99. Marsh & McLennan Companies, Inc. has a 1 year low of $184.02 and a 1 year high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last announced 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 company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the business earned $1.57 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 8.73 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The firm 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 dividend of $0.815 per share. This represents a $3.26 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, October 4th. Marsh & McLennan Companies’s payout ratio is currently 41.37%.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 5,200 shares of the firm’s stock in a transaction that occurred on 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 approximately $7,578,560.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mark C. Mcgivney sold 5,200 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 33,678 shares in the company, valued at $7,578,560.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stacy Mills sold 4,101 shares of Marsh & McLennan Companies 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 completion of the sale, the vice president now owns 2,923 shares of the company’s stock, valued at $659,925.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,566 shares of company stock valued at $4,420,137 in the last three months. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Jefferies Financial Group increased their price objective on Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Roth Mkm boosted their target price 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. Wells Fargo & Company lowered their price target 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. Finally, The Goldman Sachs Group set a $220.00 price objective on shares of Marsh & McLennan Companies and gave the company a “sell” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $220.13.

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.