Retirement Systems of Alabama Reduces Stock Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Retirement Systems of Alabama reduced its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,984 shares of the financial services provider’s stock after selling 1,707 shares during the quarter. Retirement Systems of Alabama’s holdings in Marsh & McLennan Companies were worth $23,867,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Fortitude Family Office LLC grew its stake in shares of Marsh & McLennan Companies by 18.8% in the third quarter. Fortitude Family Office LLC now owns 285 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 45 shares during the last quarter. Kingfisher Capital LLC lifted its holdings in Marsh & McLennan Companies by 4.7% in the second quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 47 shares during the period. Drive Wealth Management LLC boosted its holdings in shares of Marsh & McLennan Companies by 3.7% in the second quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock worth $291,000 after buying an additional 49 shares during the last quarter. Legacy Financial Advisors Inc. grew its position in shares of Marsh & McLennan Companies by 2.3% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock valued at $468,000 after acquiring an additional 49 shares during the period. Finally, Ritholtz Wealth Management grew its holdings in Marsh & McLennan Companies by 0.6% during the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock valued at $1,887,000 after purchasing an additional 51 shares during the period. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Price Performance

MMC stock opened at $215.07 on Friday. Marsh & McLennan Companies, Inc. has a 1 year low of $184.28 and a 1 year high of $235.50. The business’s 50-day moving average is $224.12 and its two-hundred day moving average is $220.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $105.63 billion, a P/E ratio of 26.49, a P/E/G ratio of 2.58 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm posted $1.57 EPS. Analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.68 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 4th were given a dividend of $0.815 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a yield of 1.52%. Marsh & McLennan Companies’s payout ratio is currently 40.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MMC shares. Bank of America increased their price target 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. Wells Fargo & Company lowered their price objective on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. Roth Mkm lifted their target price on Marsh & McLennan Companies from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Jefferies Financial Group upped their price target on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets upped their price objective on Marsh & McLennan Companies from $217.00 to $228.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marsh & McLennan Companies has an average rating of “Hold” and an average target price of $228.13.

Insider Activity at Marsh & McLennan Companies

In other news, Director Oscar Fanjul sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total transaction of $553,875.00. Following the sale, the director now owns 48,549 shares of the company’s stock, valued at $10,756,030.95. The trade was a 4.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by insiders.

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.