Bank of New York Mellon Corp Sells 190,012 Shares of Marsh & McLennan Companies, Inc. $MMC

Bank of New York Mellon Corp reduced its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,076,874 shares of the financial services provider’s stock after selling 190,012 shares during the period. Bank of New York Mellon Corp’s holdings in Marsh & McLennan Companies were worth $672,728,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MMC. Accent Capital Management LLC bought a new position in Marsh & McLennan Companies in the first quarter worth about $25,000. Knuff & Co LLC bought a new position in Marsh & McLennan Companies in the first quarter worth about $28,000. Activest Wealth Management raised its stake in Marsh & McLennan Companies by 2,775.0% in 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 in the last quarter. Westside Investment Management Inc. raised its stake in Marsh & McLennan Companies by 363.3% in 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 position in Marsh & McLennan Companies in the second quarter worth about $39,000. 87.99% of the stock is owned by institutional investors.

Insider Transactions at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total value of $4,334,896.35. Following the sale, the chief executive officer owned 87,681 shares in the company, valued at approximately $18,031,597.65. This trade represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Trading Down 0.5%

NYSE:MMC opened at $177.22 on Tuesday. The company’s 50 day moving average price is $197.69 and its 200-day moving average price is $210.31. Marsh & McLennan Companies, Inc. has a 52 week low of $174.18 and a 52 week high of $248.00. 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 stock has a market cap of $86.82 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.25 and a beta of 0.81.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on MMC. Morgan Stanley cut their price objective on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Barclays cut their price objective on shares of Marsh & McLennan Companies from $233.00 to $221.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upgraded shares of Marsh & McLennan Companies from an “underperform” rating to a “market perform” rating and cut their price objective for the stock from $209.00 to $191.00 in a report on Friday, October 17th. Evercore ISI cut their price objective on shares of Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Finally, Bank of America restated an “underperform” rating and issued a $181.00 price objective (down previously from $243.00) on shares of Marsh & McLennan Companies in a report on Monday. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $228.63.

Marsh & McLennan Companies Company Profile

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.