Peapack Gladstone Financial Corp Sells 145 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Peapack Gladstone Financial Corp decreased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,902 shares of the financial services provider’s stock after selling 145 shares during the period. Peapack Gladstone Financial Corp’s holdings in Marsh & McLennan Companies were worth $1,254,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MMC. Morse Asset Management Inc bought a new position in Marsh & McLennan Companies in the 3rd quarter worth about $75,000. Kovitz Investment Group Partners LLC lifted its stake in shares of Marsh & McLennan Companies by 197.5% in the third quarter. Kovitz Investment Group Partners LLC now owns 11,116 shares of the financial services provider’s stock worth $2,480,000 after buying an additional 7,380 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Marsh & McLennan Companies by 37.7% during the third quarter. EP Wealth Advisors LLC now owns 3,238 shares of the financial services provider’s stock valued at $722,000 after buying an additional 887 shares during the last quarter. MML Investors Services LLC increased its position in shares of Marsh & McLennan Companies by 2.8% during the third quarter. MML Investors Services LLC now owns 46,735 shares of the financial services provider’s stock valued at $10,426,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Continuum Advisory LLC raised its holdings in Marsh & McLennan Companies by 58.7% in the 3rd quarter. Continuum Advisory LLC now owns 1,271 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 470 shares during the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, SVP Paul Beswick sold 2,237 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $246.00, for a total transaction of $550,302.00. Following the completion of the transaction, the senior vice president now owns 13,522 shares of the company’s stock, valued at $3,326,412. This represents a 14.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dean Michael Klisura sold 7,121 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $234.97, for a total value of $1,673,221.37. Following the completion of the sale, the chief executive officer now owns 20,935 shares in the company, valued at $4,919,096.95. This represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,634 shares of company stock worth $16,244,986 in the last three months. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MMC has been the subject of several recent analyst reports. Raymond James restated an “outperform” rating and issued a $250.00 price target (up previously from $240.00) on shares of Marsh & McLennan Companies in a research note on Thursday, February 6th. Royal Bank of Canada upgraded shares of Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $242.00 to $250.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. lifted their price target on shares of Marsh & McLennan Companies from $230.00 to $235.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Redburn Atlantic initiated coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, March 25th. They set a “buy” rating and a $281.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Marsh & McLennan Companies from $212.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $233.41.

Marsh & McLennan Companies Price Performance

Shares of NYSE:MMC opened at $219.81 on Wednesday. The company has a market capitalization of $108.35 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.70 and a beta of 0.85. Marsh & McLennan Companies, Inc. has a 1-year low of $196.17 and a 1-year high of $248.00. The firm’s 50 day simple moving average is $232.00 and its two-hundred day simple moving average is $224.44. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13.

Marsh & McLennan Companies (NYSE:MMC) last released its earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.12. Marsh & McLennan Companies had a net margin of 16.60% and a return on equity of 32.60%. Research analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a yield of 1.48%. The ex-dividend date is Thursday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 39.80%.

Marsh & McLennan Companies 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.