New York State Teachers Retirement System Sells 15,563 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

New York State Teachers Retirement System cut its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 375,738 shares of the financial services provider’s stock after selling 15,563 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Marsh & McLennan Companies worth $83,823,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in Marsh & McLennan Companies during the 1st quarter worth approximately $27,000. Crewe Advisors LLC raised its holdings in shares of Marsh & McLennan Companies by 100.0% in the second quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 80 shares during the last quarter. Iron Horse Wealth Management LLC grew its position in Marsh & McLennan Companies by 712.5% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 195 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 171 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of Marsh & McLennan Companies in the 2nd quarter worth approximately $41,000. Finally, Bangor Savings Bank purchased a new position in Marsh & McLennan Companies in the 3rd quarter valued at approximately $46,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marsh & McLennan Companies

In related news, VP Stacy Mills sold 4,101 shares of Marsh & McLennan Companies stock in a transaction that occurred on 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 transaction, the vice president now owns 2,923 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. In related 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 transaction of $925,882.77. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark C. Mcgivney sold 10,265 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the sale, the chief financial officer now directly owns 33,678 shares in the company, valued at approximately $7,625,035.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,566 shares of company stock valued at $4,420,137. Corporate insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Stock Up 0.0 %

NYSE MMC traded up $0.05 on Wednesday, hitting $221.74. The stock had a trading volume of 63,881 shares, compared to its average volume of 1,671,932. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $109.26 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 3.33 and a beta of 0.94. The business’s fifty day moving average price is $225.45 and its 200 day moving average price is $216.07. Marsh & McLennan Companies, Inc. has a 52-week low of $184.28 and a 52-week high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data 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 return on equity of 32.65% and a net margin of 16.82%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period last year, the business posted $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 anticipate that Marsh & McLennan Companies, Inc. will post 8.7 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

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 $0.815 dividend. This represents a $3.26 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio is currently 41.37%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MMC. Keefe, Bruyette & Woods upped their price objective on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the company an “underperform” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada upped their price target on shares of Marsh & McLennan Companies from $232.00 to $242.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Wells Fargo & Company cut 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 report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, UBS Group boosted their price target on shares of Marsh & McLennan Companies from $255.00 to $259.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $225.33.

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.