Harrington Investments INC Reduces Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Harrington Investments INC reduced its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,864 shares of the financial services provider’s stock after selling 735 shares during the period. Marsh & McLennan Companies accounts for 3.1% of Harrington Investments INC’s holdings, making the stock its 6th biggest holding. Harrington Investments INC’s holdings in Marsh & McLennan Companies were worth $5,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Marsh & McLennan Companies during the fourth quarter valued at approximately $1,048,077,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Marsh & McLennan Companies by 32.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,243,245 shares of the financial services provider’s stock valued at $1,940,789,000 after purchasing an additional 2,526,701 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Marsh & McLennan Companies by 4,991.4% during the second quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider’s stock valued at $146,047,000 after purchasing an additional 679,474 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Marsh & McLennan Companies by 229.6% during the first quarter. Jennison Associates LLC now owns 932,452 shares of the financial services provider’s stock valued at $192,066,000 after purchasing an additional 649,505 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Marsh & McLennan Companies by 322.7% in the fourth quarter. Corient Private Wealth LLC now owns 761,238 shares of the financial services provider’s stock valued at $144,232,000 after acquiring an additional 581,131 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 10,265 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $226.41, for a total value of $2,324,098.65. Following the completion of the transaction, the chief financial officer now owns 33,678 shares in the company, valued at $7,625,035.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Mark C. Mcgivney sold 10,265 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the completion of the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at $7,625,035.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Oscar Fanjul sold 6,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $209.01, for a total transaction of $1,254,060.00. Following the sale, the director now directly owns 53,393 shares of the company’s stock, valued at approximately $11,159,670.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,735 shares of company stock worth $6,151,377. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

MMC has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Roth Mkm raised their target price on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Barclays initiated coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 target price for the company. Bank of America raised their target price on shares of Marsh & McLennan Companies from $223.00 to $233.00 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd. Finally, Royal Bank of Canada raised their target price on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $215.53.

Marsh & McLennan Companies Trading Down 0.3 %

NYSE MMC opened at $227.85 on Monday. The company has a market capitalization of $112.05 billion, a PE ratio of 28.91, a P/E/G ratio of 3.18 and a beta of 0.94. The company has a fifty day moving average of $220.38 and a 200 day moving average of $210.65. Marsh & McLennan Companies, Inc. has a 1 year low of $184.02 and a 1 year high of $232.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.17 and a quick ratio of 1.17.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.01. The business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.31 billion. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.20 earnings per share. Research analysts forecast that Marsh & McLennan Companies, Inc. will post 8.74 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were given a $0.815 dividend. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. Marsh & McLennan Companies’s dividend payout ratio is 41.37%.

About Marsh & McLennan Companies

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.