Harbour Trust & Investment Management Co Boosts Position in Marsh & McLennan Companies, Inc. $MMC

Harbour Trust & Investment Management Co increased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,184 shares of the financial services provider’s stock after purchasing an additional 2,249 shares during the quarter. Marsh & McLennan Companies makes up approximately 1.5% of Harbour Trust & Investment Management Co’s portfolio, making the stock its 19th biggest position. Harbour Trust & Investment Management Co’s holdings in Marsh & McLennan Companies were worth $13,815,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Marsh & McLennan Companies by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,321,445 shares of the financial services provider’s stock worth $11,059,792,000 after purchasing an additional 581,930 shares during the last quarter. Wellington Management Group LLP lifted its stake in Marsh & McLennan Companies by 54.2% during the first quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider’s stock worth $3,127,193,000 after purchasing an additional 4,505,548 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Marsh & McLennan Companies by 8.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,345,211 shares of the financial services provider’s stock worth $1,060,362,000 after purchasing an additional 340,907 shares during the last quarter. Nuveen LLC purchased a new stake in Marsh & McLennan Companies during the first quarter worth approximately $1,038,594,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Marsh & McLennan Companies by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,858,136 shares of the financial services provider’s stock valued at $697,471,000 after buying an additional 65,778 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Insiders Place Their Bets

In related news, CEO John Q. Doyle sold 21,079 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 87,681 shares of the company’s stock, valued at $18,031,597.65. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MMC shares. JPMorgan Chase & Co. upgraded Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $248.00 to $242.00 in a research note on Thursday, October 9th. Barclays reduced their price objective on Marsh & McLennan Companies from $233.00 to $221.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Cantor Fitzgerald started coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $256.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective on Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating for the company in a research note on Monday, July 21st. Finally, Wells Fargo & Company dropped their target price on Marsh & McLennan Companies from $226.00 to $222.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $237.13.

Marsh & McLennan Companies Trading Down 1.0%

NYSE:MMC opened at $205.03 on Tuesday. The firm has a market cap of $100.80 billion, a P/E ratio of 24.58, a PEG ratio of 2.60 and a beta of 0.81. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. The stock’s 50 day simple moving average is $203.41 and its 200-day simple moving average is $215.11. Marsh & McLennan Companies, Inc. has a 12-month low of $195.01 and a 12-month high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last released its earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.06. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%.The business had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the previous year, the company posted $2.41 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 2nd. Marsh & McLennan Companies’s dividend payout ratio is currently 43.17%.

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.