Courier Capital LLC Sells 1,009 Shares of Marsh & McLennan Companies, Inc. $MMC

Courier Capital LLC trimmed its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 9.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,851 shares of the financial services provider’s stock after selling 1,009 shares during the quarter. Courier Capital LLC’s holdings in Marsh & McLennan Companies were worth $2,154,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Harbour Investments Inc. increased its stake in shares of Marsh & McLennan Companies by 3.6% in the first quarter. Harbour Investments Inc. now owns 1,253 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 44 shares during the period. IFP Advisors Inc boosted its position in shares of Marsh & McLennan Companies by 0.6% during the 1st quarter. IFP Advisors Inc now owns 7,479 shares of the financial services provider’s stock valued at $1,825,000 after acquiring an additional 47 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in Marsh & McLennan Companies by 1.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,517 shares of the financial services provider’s stock valued at $1,102,000 after acquiring an additional 47 shares during the period. E Fund Management Co. Ltd. lifted its stake in Marsh & McLennan Companies by 3.9% during the first quarter. E Fund Management Co. Ltd. now owns 1,263 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 47 shares during the period. Finally, McAdam LLC boosted its holdings in Marsh & McLennan Companies by 1.2% during the first quarter. McAdam LLC now owns 3,948 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 47 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the transaction, the chief executive officer directly owned 87,681 shares in the company, valued at approximately $18,031,597.65. This represents a 19.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on MMC. Wolfe Research initiated coverage on Marsh & McLennan Companies in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. UBS Group reduced their target price on shares of Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upgraded shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $248.00 to $242.00 in a research report on Thursday, October 9th. Wells Fargo & Company reduced their price target on shares of Marsh & McLennan Companies from $226.00 to $222.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Marsh & McLennan Companies in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus price target of $237.13.

Marsh & McLennan Companies Stock Up 0.8%

Shares of NYSE:MMC opened at $207.01 on Wednesday. Marsh & McLennan Companies, Inc. has a 12 month low of $195.01 and a 12 month high of $248.00. The firm has a market cap of $101.77 billion, a P/E ratio of 24.82, a P/E/G ratio of 2.59 and a beta of 0.81. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.19. The company’s 50-day moving average price is $203.54 and its two-hundred day moving average price is $215.05.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.66 by $0.06. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The business had revenue of $6.97 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the prior year, the firm earned $2.41 earnings per share. Marsh & McLennan Companies’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 2nd. Marsh & McLennan Companies’s dividend payout ratio is 43.17%.

About Marsh & McLennan Companies

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.