Kentucky Retirement Systems Insurance Trust Fund Sells 1,332 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,560 shares of the financial services provider’s stock after selling 1,332 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Marsh & McLennan Companies were worth $3,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MMC. Assenagon Asset Management S.A. lifted its position in shares of Marsh & McLennan Companies by 4,991.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider’s stock worth $146,047,000 after buying an additional 679,474 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Marsh & McLennan Companies by 31,846.5% during the third quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider’s stock valued at $95,430,000 after acquiring an additional 426,425 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Marsh & McLennan Companies by 3.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,624,073 shares of the financial services provider’s stock worth $2,188,348,000 after purchasing an additional 380,828 shares during the last quarter. Truist Financial Corp increased its position in shares of Marsh & McLennan Companies by 93.9% during the 2nd quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock worth $160,563,000 after purchasing an additional 368,970 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in Marsh & McLennan Companies by 219.5% in the third quarter. Los Angeles Capital Management LLC now owns 529,239 shares of the financial services provider’s stock valued at $118,068,000 after buying an additional 363,569 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Stock Up 0.3 %

Shares of MMC stock opened at $222.14 on Friday. The company has a market capitalization of $109.10 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 3.36 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 12-month low of $184.28 and a 12-month high of $232.32. The firm has a fifty day moving average of $224.31 and a 200-day moving average of $217.89. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.89.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data 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. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the firm posted $1.57 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts predict that Marsh & McLennan Companies, Inc. will post 8.7 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were paid a dividend of $0.815 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 annualized dividend and a dividend yield of 1.47%. Marsh & McLennan Companies’s dividend payout ratio is currently 40.15%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MMC. Royal Bank of Canada lifted their target price on shares of 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. Jefferies Financial Group raised their target price on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group set a $220.00 price target on shares of Marsh & McLennan Companies and gave the stock a “sell” rating in a research note on Friday, October 18th. Barclays started coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 price objective on the stock. Finally, UBS Group upped their target price 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 assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $225.33.

Insider Buying and Selling

In other news, Director Oscar Fanjul sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total transaction of $553,875.00. Following the completion of the sale, the director now owns 48,549 shares in the company, valued at approximately $10,756,030.95. This trade represents a 4.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.