Teachers Retirement System of The State of Kentucky Sells 7,612 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Teachers Retirement System of The State of Kentucky lessened its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,659 shares of the financial services provider’s stock after selling 7,612 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Marsh & McLennan Companies were worth $29,218,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MMC. Advisory Alpha LLC purchased a new stake in Marsh & McLennan Companies during the second quarter valued at $209,000. Truist Financial Corp grew its position in Marsh & McLennan Companies by 93.9% in the second quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock worth $160,563,000 after acquiring an additional 368,970 shares in the last quarter. EP Wealth Advisors LLC increased its stake in Marsh & McLennan Companies by 41.8% during the second quarter. EP Wealth Advisors LLC now owns 2,351 shares of the financial services provider’s stock worth $495,000 after acquiring an additional 693 shares during the last quarter. Kimelman & Baird LLC bought a new stake in shares of Marsh & McLennan Companies in the 2nd quarter valued at approximately $2,717,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Marsh & McLennan Companies by 40.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 4,489 shares of the financial services provider’s stock worth $946,000 after purchasing an additional 1,288 shares during the period. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $223.09 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.17 and a quick ratio of 1.17. The business has a fifty day moving average of $223.93 and a 200 day moving average of $213.16. The firm has a market capitalization of $109.92 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 3.13 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 1 year low of $184.02 and a 1 year high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last issued its earnings results on Thursday, July 18th. The financial services provider reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.01. The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.31 billion. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. Marsh & McLennan Companies’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 earnings per share. As a group, research analysts expect that Marsh & McLennan Companies, Inc. will post 8.74 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 Friday, November 15th. Stockholders of record on Friday, October 4th will be paid a $0.815 dividend. The ex-dividend date is Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.46%. Marsh & McLennan Companies’s payout ratio is 41.37%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, VP Stacy Mills sold 4,101 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $225.77, for a total value of $925,882.77. Following the completion of the transaction, the vice president now directly owns 2,923 shares in the company, valued at approximately $659,925.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Paul Beswick sold 2,169 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $477,180.00. Following the completion of the sale, the senior vice president now directly owns 11,861 shares in the company, valued at $2,609,420. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stacy Mills sold 4,101 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $225.77, for a total value of $925,882.77. Following the transaction, the vice president now owns 2,923 shares in the company, valued at approximately $659,925.71. The disclosure for this sale can be found here. Insiders have sold a total of 21,735 shares of company stock valued at $4,897,317 over the last ninety days. Company insiders own 0.30% of the company’s stock.

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.