C.V. Starr & Co. Inc. Trust decreased its position in Marsh & McLennan Cos. (NYSE:MMC) by 25.8% during the third quarter, Holdings Channel reports. The fund owned 60,000 shares of the company’s stock after selling 20,900 shares during the period. Marsh & McLennan Cos. accounts for 1.8% of C.V. Starr & Co. Inc. Trust’s holdings, making the stock its 26th largest position. C.V. Starr & Co. Inc. Trust’s holdings in Marsh & McLennan Cos. were worth $4,035,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in MMC. Seven Bridges Advisors LLC increased its position in shares of Marsh & McLennan Cos. by 21.0% in the third quarter. Seven Bridges Advisors LLC now owns 1,524 shares of the company’s stock worth $102,000 after buying an additional 264 shares during the last quarter. Coconut Grove Bank increased its position in shares of Marsh & McLennan Cos. by 15.7% in the third quarter. Coconut Grove Bank now owns 1,628 shares of the company’s stock worth $109,000 after buying an additional 221 shares during the last quarter. Washington Trust Bank increased its position in shares of Marsh & McLennan Cos. by 2.9% in the second quarter. Washington Trust Bank now owns 1,685 shares of the company’s stock worth $115,000 after buying an additional 48 shares during the last quarter. BlueMountain Capital Management LLC bought a new position in shares of Marsh & McLennan Cos. during the first quarter worth approximately $121,000. Finally, Financial Architects Inc increased its position in shares of Marsh & McLennan Cos. by 326.2% in the second quarter. Financial Architects Inc now owns 2,144 shares of the company’s stock worth $146,000 after buying an additional 1,641 shares during the last quarter. Hedge funds and other institutional investors own 87.80% of the company’s stock.
Marsh & McLennan Cos. (NYSE:MMC) opened at 69.46 on Friday. The company’s 50-day moving average price is $65.90 and its 200 day moving average price is $66.32. Marsh & McLennan Cos. has a 1-year low of $50.81 and a 1-year high of $69.69. The firm has a market capitalization of $35.81 billion, a PE ratio of 21.37 and a beta of 0.85.
Marsh & McLennan Cos. (NYSE:MMC) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Marsh & McLennan Cos. had a return on equity of 25.27% and a net margin of 12.95%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the company posted $0.63 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Marsh & McLennan Cos. will post $3.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, October 11th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, October 6th. Marsh & McLennan Cos.’s dividend payout ratio is presently 41.85%.
Several equities research analysts have issued reports on MMC shares. BMO Capital Markets raised Marsh & McLennan Cos. from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $75.00 to $76.00 in a research note on Friday, November 4th. They noted that the move was a valuation call. Zacks Investment Research cut Marsh & McLennan Cos. from a “hold” rating to a “sell” rating in a research note on Monday, October 17th. Credit Suisse Group AG set a $55.00 target price on Marsh & McLennan Cos. and gave the stock a “hold” rating in a research note on Monday, September 12th. Barclays PLC reissued a “buy” rating and set a $77.00 target price on shares of Marsh & McLennan Cos. in a research note on Friday, September 30th. Finally, Citigroup Inc. cut their target price on Marsh & McLennan Cos. from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday, October 11th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Marsh & McLennan Cos. presently has an average rating of “Buy” and an average target price of $69.25.
In other Marsh & McLennan Cos. news, SVP Robert J. Rapport sold 10,000 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $69.00, for a total transaction of $690,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Peter Zaffino sold 21,087 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $63.16, for a total value of $1,331,854.92. Following the transaction, the chairman now directly owns 150,736 shares in the company, valued at approximately $9,520,485.76. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.
Marsh & McLennan Cos. Company Profile
Marsh & McLennan Companies, Inc is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various specialty consultants, including Marsh, an insurance broker, intermediary and risk advisor; Guy Carpenter, a risk and reinsurance specialist; Mercer, a provider of human resource (HR) and related financial advice and services, and Oliver Wyman Group, a management, economic and brand consultancy.
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