New York State Common Retirement Fund Sells 2,690 Shares of Marsh & McLennan Companies, Inc. $MMC

New York State Common Retirement Fund reduced its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 626,229 shares of the financial services provider’s stock after selling 2,690 shares during the quarter. New York State Common Retirement Fund owned 0.13% of Marsh & McLennan Companies worth $136,919,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MMC. Accent Capital Management LLC acquired a new stake in shares of Marsh & McLennan Companies in the 1st quarter valued at approximately $25,000. Knuff & Co LLC bought a new position in Marsh & McLennan Companies in the 1st quarter valued at approximately $28,000. Activest Wealth Management grew its stake in shares of Marsh & McLennan Companies by 2,775.0% during the first quarter. Activest Wealth Management now owns 115 shares of the financial services provider’s stock worth $28,000 after buying an additional 111 shares during the last quarter. Westside Investment Management Inc. increased its holdings in shares of Marsh & McLennan Companies by 363.3% during the second quarter. Westside Investment Management Inc. now owns 139 shares of the financial services provider’s stock worth $30,000 after buying an additional 109 shares in the last quarter. Finally, Access Investment Management LLC bought a new stake in Marsh & McLennan Companies during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Up 0.4%

Marsh & McLennan Companies stock opened at $183.51 on Friday. The company has a market capitalization of $89.90 billion, a PE ratio of 22.00, a PEG ratio of 2.25 and a beta of 0.78. Marsh & McLennan Companies, Inc. has a 12-month low of $174.18 and a 12-month high of $248.00. The firm’s fifty day moving average is $189.42 and its 200 day moving average is $204.88. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.07. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.34 billion. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 earnings per share. As a group, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, October 2nd were issued a $0.90 dividend. The ex-dividend date was Thursday, October 2nd. This represents a $3.60 annualized dividend and a yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio is presently 43.17%.

Insider Activity at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the completion of the sale, the chief executive officer owned 87,681 shares in the company, valued at $18,031,597.65. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MMC has been the topic of several research reports. The Goldman Sachs Group upgraded Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $200.00 to $195.00 in a report on Monday, October 20th. Keefe, Bruyette & Woods raised shares of Marsh & McLennan Companies from an “underperform” rating to a “market perform” rating and dropped their price target for the company from $209.00 to $191.00 in a research note on Friday, October 17th. JPMorgan Chase & Co. raised shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $248.00 to $242.00 in a research note on Thursday, October 9th. Royal Bank Of Canada began coverage on Marsh & McLennan Companies in a report on Tuesday. They set a “sector perform” rating and a $200.00 target price on the stock. Finally, Morgan Stanley lowered their price objective on Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $224.56.

About Marsh & McLennan Companies

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.