Cassaday & Co Wealth Management LLC Has $468,000 Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Cassaday & Co Wealth Management LLC lowered its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,098 shares of the financial services provider’s stock after selling 77 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Marsh & McLennan Companies were worth $468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MMC. Carmichael Hill & Associates Inc. grew its stake in Marsh & McLennan Companies by 85.7% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 130 shares of the financial services provider’s stock valued at $29,000 after buying an additional 60 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Marsh & McLennan Companies in the third quarter worth about $31,000. Crewe Advisors LLC boosted its stake in Marsh & McLennan Companies by 100.0% during the 2nd 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 period. Iron Horse Wealth Management LLC grew its holdings 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 valued at $41,000 after buying an additional 171 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in Marsh & McLennan Companies in the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Marsh & McLennan Companies stock opened at $223.67 on Tuesday. The firm has a market capitalization of $109.85 billion, a P/E ratio of 27.55, a P/E/G ratio of 3.30 and a beta of 0.94. The stock has a fifty day moving average price of $224.17 and a two-hundred day moving average price of $218.32. Marsh & McLennan Companies, Inc. has a 52-week low of $184.28 and a 52-week high of $232.32. 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 (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, beating the consensus estimate of $1.61 by $0.02. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm posted $1.57 EPS. As a group, analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 4th were given a $0.815 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 annualized dividend and a yield of 1.46%. Marsh & McLennan Companies’s payout ratio is 40.15%.

Insiders Place Their Bets

In other news, Director Oscar Fanjul sold 2,500 shares of the company’s 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 transaction, the director now directly owns 48,549 shares in the company, valued at approximately $10,756,030.95. This represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MMC. Keefe, Bruyette & Woods raised their price objective on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price objective on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Bank of America lifted their target price on Marsh & McLennan Companies from $248.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. The Goldman Sachs Group set a $220.00 price target on Marsh & McLennan Companies and gave the company a “sell” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada lifted their price objective on Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus target price 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.