Grove Bank & Trust Buys 105 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Grove Bank & Trust increased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 10.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,117 shares of the financial services provider’s stock after purchasing an additional 105 shares during the period. Grove Bank & Trust’s holdings in Marsh & McLennan Companies were worth $249,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MMC. Assenagon Asset Management S.A. increased its holdings in Marsh & McLennan Companies by 4,991.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider’s stock worth $146,047,000 after acquiring an additional 679,474 shares during the period. Jennison Associates LLC increased its holdings in shares of Marsh & McLennan Companies by 229.6% in the first quarter. Jennison Associates LLC now owns 932,452 shares of the financial services provider’s stock worth $192,066,000 after purchasing an additional 649,505 shares during the period. M&G Plc purchased a new stake in shares of Marsh & McLennan Companies in the first quarter worth $118,353,000. Bristol Gate Capital Partners Inc. bought a new stake in Marsh & McLennan Companies during the first quarter valued at $95,139,000. Finally, SG Americas Securities LLC increased its stake in Marsh & McLennan Companies by 2,623.1% in the 1st quarter. SG Americas Securities LLC now owns 467,891 shares of the financial services provider’s stock worth $96,376,000 after acquiring an additional 450,709 shares during the last quarter. Institutional investors own 87.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on MMC shares. Royal Bank of Canada boosted their price objective on Marsh & McLennan Companies from $228.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, July 19th. Roth Mkm raised their price objective on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their target price on Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Barclays initiated coverage on Marsh & McLennan Companies in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 price target for the company. Finally, Bank of America increased their price objective on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus price target of $216.69.

Marsh & McLennan Companies Trading Up 1.1 %

NYSE:MMC opened at $227.52 on Tuesday. The firm has a market capitalization of $112.10 billion, a P/E ratio of 28.87, a P/E/G ratio of 3.58 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 52 week low of $184.02 and a 52 week high of $232.32. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.91. The company has a fifty day moving average of $224.66 and a 200 day moving average of $214.45.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, July 18th. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.01. The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.31 billion. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. Marsh & McLennan Companies’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $2.20 earnings per share. On average, research analysts predict that Marsh & McLennan Companies, Inc. will post 8.73 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. Investors of record on Friday, October 4th will be paid a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, October 4th. Marsh & McLennan Companies’s payout ratio is 41.37%.

Insider Buying and Selling at Marsh & McLennan Companies

In other 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 value of $1,170,156.00. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. In other Marsh & McLennan Companies news, VP Stacy Mills sold 4,101 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 2,923 shares of the company’s stock, valued at approximately $659,925.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the chief financial officer now directly owns 33,678 shares in the company, valued at $7,578,560.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,566 shares of company stock valued at $4,420,137. 0.30% of the stock is currently owned by company insiders.

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.