Patron Partners LLC Decreases Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Patron Partners LLC decreased its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 15.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,051 shares of the financial services provider’s stock after selling 199 shares during the period. Patron Partners LLC’s holdings in Marsh & McLennan Companies were worth $234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Marsh & McLennan Companies during the first quarter worth approximately $27,000. Carmichael Hill & Associates Inc. raised its holdings in shares of Marsh & McLennan Companies by 85.7% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 130 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 60 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Marsh & McLennan Companies in the third quarter valued at about $31,000. Crewe Advisors LLC increased its position in Marsh & McLennan Companies by 100.0% during the second quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 80 shares during the last quarter. Finally, Iron Horse Wealth Management LLC raised its stake in Marsh & McLennan Companies by 712.5% during the second 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 during the period. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MMC. BMO Capital Markets raised their price target on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Bank of America raised their target price on Marsh & McLennan Companies from $248.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. 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, October 18th. Finally, UBS Group lifted 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 analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Marsh & McLennan Companies currently has an average rating of “Hold” and an average price target of $225.33.

Marsh & McLennan Companies Stock Down 0.7 %

Shares of NYSE MMC opened at $223.79 on Tuesday. Marsh & McLennan Companies, Inc. has a 12-month low of $184.28 and a 12-month high of $232.32. The stock has a market cap of $109.91 billion, a P/E ratio of 27.56, a PEG ratio of 3.35 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.89. The business’s fifty day simple moving average is $224.75 and its 200-day simple moving average is $217.45.

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, beating the consensus estimate of $1.61 by $0.02. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.57 EPS. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 4th will be issued a $0.815 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.46%. Marsh & McLennan Companies’s payout ratio is 40.15%.

Insider Buying and Selling

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 48,549 shares in the company, valued at $10,756,030.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

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.