SlateStone Wealth LLC Cuts Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

SlateStone Wealth LLC trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,531 shares of the financial services provider’s stock after selling 44 shares during the quarter. SlateStone Wealth LLC’s holdings in Marsh & McLennan Companies were worth $325,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Financial Life Planners purchased a new position in Marsh & McLennan Companies in the fourth quarter worth $33,000. Sierra Ocean LLC purchased a new position in Marsh & McLennan Companies in the fourth quarter worth $36,000. Albion Financial Group UT purchased a new position in Marsh & McLennan Companies in the fourth quarter worth $38,000. Golden State Wealth Management LLC purchased a new position in Marsh & McLennan Companies in the fourth quarter worth $41,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in Marsh & McLennan Companies in the fourth quarter worth $45,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marsh & McLennan Companies

In other news, VP Stacy Mills sold 1,317 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $234.97, for a total transaction of $309,455.49. Following the completion of the sale, the vice president now owns 2,923 shares of the company’s stock, valued at $686,817.31. The trade was a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas Mark Studer sold 49,390 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $230.16, for a total transaction of $11,367,602.40. Following the sale, the chief executive officer now directly owns 28,329 shares of the company’s stock, valued at approximately $6,520,202.64. This represents a 63.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,828 shares of company stock valued at $13,350,279 over the last 90 days. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Raymond James reaffirmed an “outperform” rating and issued a $250.00 price target (up from $240.00) on shares of Marsh & McLennan Companies in a report on Thursday, February 6th. Barclays lifted their price objective on shares of Marsh & McLennan Companies from $236.00 to $246.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Royal Bank of Canada upgraded shares of Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $242.00 to $250.00 in a research note on Thursday, December 12th. Wells Fargo & Company lifted their price objective on shares of Marsh & McLennan Companies from $212.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Evercore ISI reiterated an “outperform” rating and set a $242.00 price objective on shares of Marsh & McLennan Companies in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $230.44.

Marsh & McLennan Companies Stock Up 0.8 %

MMC opened at $231.71 on Monday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.17 and a fifty-two week high of $241.84. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. The company has a fifty day moving average of $224.84 and a two-hundred day moving average of $223.59. The stock has a market capitalization of $113.80 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 2.70 and a beta of 0.95.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings data 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%. On average, research analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.815 per share. The ex-dividend date is Thursday, April 3rd. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.41%. Marsh & McLennan Companies’s dividend payout ratio is currently 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.