Glenview Trust Co Raises Stake in Marsh & McLennan Companies, Inc. $MMC

Glenview Trust Co grew its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2,554.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 103,427 shares of the financial services provider’s stock after buying an additional 99,530 shares during the period. Glenview Trust Co’s holdings in Marsh & McLennan Companies were worth $20,844,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MMC. JPMorgan Chase & Co. lifted its position in Marsh & McLennan Companies by 10.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,872,982 shares of the financial services provider’s stock worth $982,071,000 after acquiring an additional 441,029 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of Marsh & McLennan Companies by 4.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 172,637 shares of the financial services provider’s stock worth $34,792,000 after purchasing an additional 7,809 shares during the period. PNC Financial Services Group Inc. increased its stake in Marsh & McLennan Companies by 12.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 671,907 shares of the financial services provider’s stock valued at $135,409,000 after buying an additional 73,526 shares during the period. NorthStar Asset Management LLC NJ raised its position in Marsh & McLennan Companies by 3.2% during the 3rd quarter. NorthStar Asset Management LLC NJ now owns 7,301 shares of the financial services provider’s stock worth $1,471,000 after buying an additional 223 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Marsh & McLennan Companies by 0.6% in the 3rd quarter. Assetmark Inc. now owns 688,583 shares of the financial services provider’s stock worth $138,770,000 after acquiring an additional 4,071 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Insider Activity at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the transaction, the chief executive officer directly owned 87,681 shares in the company, valued at $15,977,231.82. This represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MMC. JPMorgan Chase & Co. cut their price target on shares of Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Keefe, Bruyette & Woods increased their target price on Marsh & McLennan Companies from $191.00 to $205.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 6th. Mizuho initiated coverage on Marsh & McLennan Companies in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $212.00 price target on the stock. Citigroup cut their price objective on Marsh & McLennan Companies from $211.00 to $201.00 and set a “neutral” rating for the company in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada began coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $200.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus price target of $216.88.

Marsh & McLennan Companies Trading Down 1.7%

Shares of MMC opened at $182.39 on Tuesday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $174.18 and a fifty-two week high of $248.00. The company has a market capitalization of $89.35 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. The stock has a fifty day moving average of $183.94 and a two-hundred day moving average of $190.91. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12.

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Thursday, January 29th were issued a $0.90 dividend. The ex-dividend date was Thursday, January 29th. This represents a $3.60 annualized dividend and a yield of 2.0%. Marsh & McLennan Companies’s payout ratio is 43.17%.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.