Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 123,450 shares of the financial services provider’s stock after selling 6,575 shares during the period. Amalgamated Bank’s holdings in Marsh & McLennan Companies were worth $23,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Marsh & McLennan Companies by 0.3% during the 3rd quarter. FMR LLC now owns 19,423,136 shares of the financial services provider’s stock worth $3,696,223,000 after purchasing an additional 61,408 shares during the period. Ameriprise Financial Inc. increased its position in Marsh & McLennan Companies by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,278,659 shares of the financial services provider’s stock worth $1,575,881,000 after purchasing an additional 31,821 shares during the period. Morgan Stanley increased its position in Marsh & McLennan Companies by 2.5% during the 3rd quarter. Morgan Stanley now owns 6,145,046 shares of the financial services provider’s stock worth $1,169,403,000 after purchasing an additional 150,655 shares during the period. Northern Trust Corp increased its position in Marsh & McLennan Companies by 4.8% during the 3rd quarter. Northern Trust Corp now owns 5,979,821 shares of the financial services provider’s stock worth $1,137,960,000 after purchasing an additional 271,408 shares during the period. Finally, California Public Employees Retirement System increased its position in Marsh & McLennan Companies by 2.6% during the 3rd quarter. California Public Employees Retirement System now owns 3,277,576 shares of the financial services provider’s stock worth $623,723,000 after purchasing an additional 83,785 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Cowen boosted their price target on Marsh & McLennan Companies from $189.00 to $201.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Keefe, Bruyette & Woods upped their price objective on Marsh & McLennan Companies from $185.00 to $188.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. The Goldman Sachs Group downgraded Marsh & McLennan Companies from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $215.00 to $185.00 in a report on Monday, January 8th. Piper Sandler downgraded Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 price objective for the company. in a report on Wednesday, April 17th. Finally, Royal Bank of Canada upped their price objective on Marsh & McLennan Companies from $208.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Marsh & McLennan Companies presently has a consensus rating of “Hold” and an average target price of $207.69.

Marsh & McLennan Companies Stock Performance

NYSE MMC traded down $0.10 during trading hours on Friday, reaching $199.26. The company’s stock had a trading volume of 1,039,890 shares, compared to its average volume of 1,735,866. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The business has a 50-day simple moving average of $202.93 and a 200 day simple moving average of $197.34. Marsh & McLennan Companies, Inc. has a 52 week low of $171.47 and a 52 week high of $209.20. The stock has a market cap of $98.18 billion, a PE ratio of 25.29, a PEG ratio of 3.33 and a beta of 0.90.

Marsh & McLennan Companies (NYSE:MMC) last issued its earnings results on Thursday, April 18th. The financial services provider reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.09. Marsh & McLennan Companies had a net margin of 16.84% and a return on equity of 34.14%. The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter last year, the company posted $2.53 earnings per share. Marsh & McLennan Companies’s revenue was up 9.7% on a year-over-year basis. Equities research analysts predict that Marsh & McLennan Companies, Inc. will post 8.69 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 4th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio is currently 36.04%.

Insider Activity at Marsh & McLennan Companies

In related news, VP Stacy Mills sold 1,461 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $209.16, for a total value of $305,582.76. Following the sale, the vice president now directly owns 2,923 shares in the company, valued at approximately $611,374.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Mark C. Mcgivney sold 12,494 shares of Marsh & McLennan Companies stock in a transaction on Monday, March 4th. The stock was sold at an average price of $200.79, for a total transaction of $2,508,670.26. Following the transaction, the chief financial officer now directly owns 33,678 shares in the company, valued at approximately $6,762,205.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Stacy Mills sold 1,461 shares of Marsh & McLennan Companies stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $209.16, for a total value of $305,582.76. Following the transaction, the vice president now owns 2,923 shares in the company, valued at $611,374.68. The disclosure for this sale can be found here. Insiders have sold a total of 36,751 shares of company stock worth $7,448,163 in the last three months. 0.30% of the stock is owned by company insiders.

About Marsh & McLennan Companies

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.