Fort Pitt Capital Group LLC Decreases Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Fort Pitt Capital Group LLC reduced its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.5% in the third quarter, HoldingsChannel reports. The firm owned 77,890 shares of the financial services provider’s stock after selling 2,025 shares during the period. Fort Pitt Capital Group LLC’s holdings in Marsh & McLennan Companies were worth $17,376,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MMC. Norden Group LLC purchased a new stake in shares of Marsh & McLennan Companies during the 1st quarter worth $918,000. Ashton Thomas Private Wealth LLC lifted its stake in shares of Marsh & McLennan Companies by 10.3% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 3,116 shares of the financial services provider’s stock worth $642,000 after purchasing an additional 290 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Marsh & McLennan Companies during the 1st quarter worth $237,000. Private Advisor Group LLC raised its stake in Marsh & McLennan Companies by 0.9% in the first quarter. Private Advisor Group LLC now owns 14,691 shares of the financial services provider’s stock valued at $3,026,000 after buying an additional 126 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Marsh & McLennan Companies by 1.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 104,036 shares of the financial services provider’s stock valued at $21,429,000 after buying an additional 1,658 shares during the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Mark C. Mcgivney sold 5,200 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $225.03, for a total value of $1,170,156.00. Following the transaction, the chief financial officer now owns 33,678 shares in the company, valued at $7,578,560.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Mark C. Mcgivney sold 5,200 shares of Marsh & McLennan Companies stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Oscar Fanjul sold 2,500 shares of Marsh & McLennan Companies stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total value of $553,875.00. Following the transaction, the director now owns 48,549 shares in the company, valued at approximately $10,756,030.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

MMC has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on Marsh & McLennan Companies from $232.00 to $242.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Bank of America increased their price target on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Jefferies Financial Group increased their price target on Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. UBS Group increased their price objective on Marsh & McLennan Companies from $255.00 to $259.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company cut their price objective on 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. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $225.33.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $219.10 on Friday. The company has a market capitalization of $107.60 billion, a P/E ratio of 26.98, a P/E/G ratio of 3.24 and a beta of 0.94. The business’s 50 day moving average is $225.16 and its two-hundred day moving average is $216.41. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.89. Marsh & McLennan Companies, Inc. has a 12-month low of $184.28 and a 12-month high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.71 billion. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. Marsh & McLennan Companies’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.57 earnings per share. Analysts expect that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 4th will be given a $0.815 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $3.26 annualized dividend and a dividend yield of 1.49%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 40.15%.

About Marsh & McLennan Companies

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.