Keybank National Association OH lowered its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 18.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,207 shares of the financial services provider’s stock after selling 11,837 shares during the quarter. Keybank National Association OH’s holdings in Marsh & McLennan Companies were worth $5,223,000 as of its most recent filing with the Securities and Exchange Commission.
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Other hedge funds also recently added to or reduced their stakes in the company. Lenox Wealth Advisors LLC acquired a new stake in shares of Marsh & McLennan Companies during the second quarter worth approximately $26,000. Coastal Capital Group Inc. bought a new position in Marsh & McLennan Companies during the second quarter worth $30,000. Meeder Asset Management Inc. bought a new position in Marsh & McLennan Companies during the second quarter worth $30,000. Capital Advisors Ltd. LLC bought a new position in Marsh & McLennan Companies during the second quarter worth $31,000. Finally, Gradient Investments LLC bought a new position in Marsh & McLennan Companies during the third quarter worth $34,000. 87.30% of the stock is owned by institutional investors and hedge funds.
NYSE:MMC opened at $106.93 on Tuesday. The business’s 50-day moving average price is $103.17 and its 200 day moving average price is $99.98. The firm has a market cap of $54.54 billion, a P/E ratio of 24.58, a PEG ratio of 1.89 and a beta of 0.75. Marsh & McLennan Companies, Inc. has a 52-week low of $74.30 and a 52-week high of $108.73. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.47.
Marsh & McLennan Companies (NYSE:MMC) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4 billion. Marsh & McLennan Companies had a return on equity of 29.40% and a net margin of 9.34%. Marsh & McLennan Companies’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. Sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 4.66 EPS for the current year.
Marsh & McLennan Companies declared that its board has authorized a stock buyback plan on Thursday, November 21st that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 11th were paid a $0.455 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.82 dividend on an annualized basis and a yield of 1.70%. Marsh & McLennan Companies’s dividend payout ratio is currently 41.84%.
In related news, SVP Laurie Ledford sold 4,305 shares of Marsh & McLennan Companies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $108.18, for a total value of $465,714.90. Company insiders own 1.16% of the company’s stock.
A number of equities research analysts have issued reports on MMC shares. Raymond James upgraded Marsh & McLennan Companies from an “underperform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research note on Monday, November 18th. Morgan Stanley lifted their price objective on shares of Marsh & McLennan Companies from $101.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Co restated a “hold” rating and set a $95.00 price objective on shares of Marsh & McLennan Companies in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $100.90.
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 in two segments, Risk and Insurance Services, and Consulting. 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, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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