NewEdge Wealth LLC Sells 3,265 Shares of Marsh & McLennan Companies, Inc. $MMC

NewEdge Wealth LLC lessened its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 19.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,620 shares of the financial services provider’s stock after selling 3,265 shares during the quarter. NewEdge Wealth LLC’s holdings in Marsh & McLennan Companies were worth $2,745,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Rockland Trust Co. boosted its stake in Marsh & McLennan Companies by 801.6% in the third quarter. Rockland Trust Co. now owns 12,073 shares of the financial services provider’s stock valued at $2,433,000 after acquiring an additional 10,734 shares in the last quarter. Jennison Associates LLC boosted its holdings in Marsh & McLennan Companies by 225.1% in the second quarter. Jennison Associates LLC now owns 1,051,055 shares of the financial services provider’s stock worth $229,803,000 after acquiring an additional 727,714 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Marsh & McLennan Companies by 1.8% during the second quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock valued at $10,092,108,000 after acquiring an additional 837,117 shares in the last quarter. Navera Investment Management Ltd. boosted its stake in Marsh & McLennan Companies by 7.0% in the 3rd quarter. Navera Investment Management Ltd. now owns 1,623,960 shares of the financial services provider’s stock worth $327,303,000 after purchasing an additional 105,954 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Marsh & McLennan Companies by 18.7% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 218,131 shares of the financial services provider’s stock valued at $47,692,000 after purchasing an additional 34,400 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MMC shares. Wells Fargo & Company reduced their target price on Marsh & McLennan Companies from $212.00 to $199.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. Royal Bank Of Canada assumed coverage on shares of Marsh & McLennan Companies in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $200.00 target price for the company. Keefe, Bruyette & Woods upped 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. JPMorgan Chase & Co. dropped their target price on shares of Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Finally, Cantor Fitzgerald decreased their target price on Marsh & McLennan Companies from $226.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Marsh & McLennan Companies has an average rating of “Hold” and a consensus price target of $216.88.

Insider Activity

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $182.22, for a total value of $3,841,015.38. Following the transaction, the chief executive officer directly owned 87,681 shares of the company’s stock, valued at approximately $15,977,231.82. The trade was a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Price Performance

Marsh & McLennan Companies stock opened at $182.39 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.19. The firm has a market cap 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 company’s 50 day moving average is $183.90 and its two-hundred day moving average is $190.57. Marsh & McLennan Companies, Inc. has a 52-week low of $174.18 and a 52-week high of $248.00.

Marsh & McLennan Companies Dividend Announcement

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

Marsh & McLennan Companies 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.