Park Place Capital Corp Sells 188 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Park Place Capital Corp trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 13.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,217 shares of the financial services provider’s stock after selling 188 shares during the period. Park Place Capital Corp’s holdings in Marsh & McLennan Companies were worth $272,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kingfisher Capital LLC lifted its holdings in shares of Marsh & McLennan Companies by 4.7% during the 2nd quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 47 shares during the period. Drive Wealth Management LLC boosted its position in Marsh & McLennan Companies by 3.7% in the second quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after buying an additional 49 shares in the last quarter. Legacy Financial Advisors Inc. boosted its position in Marsh & McLennan Companies by 2.3% in the second quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock valued at $468,000 after buying an additional 49 shares in the last quarter. Ritholtz Wealth Management boosted its position in Marsh & McLennan Companies by 0.6% in the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock valued at $1,887,000 after buying an additional 51 shares in the last quarter. Finally, X Square Capital LLC boosted its position in Marsh & McLennan Companies by 1.8% in the second quarter. X Square Capital LLC now owns 2,957 shares of the financial services provider’s stock valued at $623,000 after buying an additional 51 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Trading Up 1.9 %

MMC opened at $223.97 on Wednesday. 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 company has a market cap of $110.36 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 3.13 and a beta of 0.94. The firm has a 50 day simple moving average of $224.32 and a 200 day simple moving average of $213.71. Marsh & McLennan Companies, Inc. has a fifty-two week low of $184.02 and a fifty-two week high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results 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%. Marsh & McLennan Companies’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. On average, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.74 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 4th will be paid a $0.815 dividend. This represents a $3.26 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, October 4th. Marsh & McLennan Companies’s payout ratio is presently 41.37%.

Insider Buying and Selling at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, SVP Paul Beswick sold 2,169 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 owns 11,861 shares of the company’s stock, valued at approximately $2,609,420. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mark C. Mcgivney sold 5,200 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $225.03, for a total transaction of $1,170,156.00. Following the completion of the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at $7,578,560.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Paul Beswick sold 2,169 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $477,180.00. Following the sale, the senior vice president now directly owns 11,861 shares of the company’s stock, valued at $2,609,420. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,735 shares of company stock valued at $4,897,317. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MMC. Roth Mkm boosted their price target on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Barclays began coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 price target on the stock. Bank of America boosted their price target on shares of Marsh & McLennan Companies from $235.00 to $248.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Royal Bank of Canada boosted their price target on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus target price of $215.81.

Marsh & McLennan Companies Profile

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.