Prospector Partners LLC lowered its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 85,700 shares of the financial services provider’s stock after selling 2,700 shares during the period. Prospector Partners LLC’s holdings in Marsh & McLennan Companies were worth $7,183,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Great Lakes Advisors LLC grew its holdings in Marsh & McLennan Companies by 2.6% during the second quarter. Great Lakes Advisors LLC now owns 8,677 shares of the financial services provider’s stock worth $676,000 after purchasing an additional 217 shares during the period. PICTET BANK & TRUST Ltd bought a new stake in shares of Marsh & McLennan Companies during the second quarter worth approximately $1,454,000. Whittier Trust Co. boosted its holdings in shares of Marsh & McLennan Companies by 17.7% during the third quarter. Whittier Trust Co. now owns 10,655 shares of the financial services provider’s stock worth $893,000 after acquiring an additional 1,600 shares during the period. Delta Lloyd Asset Management N.V. bought a new stake in shares of Marsh & McLennan Companies during the second quarter worth approximately $4,338,000. Finally, Rothschild Investment Corp IL bought a new stake in shares of Marsh & McLennan Companies during the third quarter worth approximately $1,713,000. Institutional investors and hedge funds own 85.99% of the company’s stock.
Marsh & McLennan Companies, Inc. (NYSE:MMC) traded down $0.61 during midday trading on Thursday, hitting $84.40. 1,398,800 shares of the stock were exchanged, compared to its average volume of 1,772,207. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.77. Marsh & McLennan Companies, Inc. has a 52 week low of $66.75 and a 52 week high of $86.54. The firm has a market capitalization of $43,385.43, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 1.81 and a beta of 1.01.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 10th were given a $0.375 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.78%. Marsh & McLennan Companies’s payout ratio is 41.10%.
In other Marsh & McLennan Companies news, Director Marc D. Oken purchased 1,235 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was bought at an average cost of $80.89 per share, for a total transaction of $99,899.15. Following the completion of the transaction, the director now owns 40,120 shares in the company, valued at $3,245,306.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.46% of the stock is currently owned by insiders.
A number of brokerages have recently issued reports on MMC. Keefe, Bruyette & Woods restated a “buy” rating and set a $83.00 price objective on shares of Marsh & McLennan Companies in a report on Friday, August 18th. Zacks Investment Research cut Marsh & McLennan Companies from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. BidaskClub cut Marsh & McLennan Companies from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Deutsche Bank cut Marsh & McLennan Companies from a “buy” rating to a “hold” rating and set a $83.00 price objective for the company. in a report on Wednesday, October 4th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $85.00 price objective on shares of Marsh & McLennan Companies in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus target price of $85.75.
About Marsh & McLennan Companies
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 risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy.
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