Citizens & Northern Corp Reduces Stock Position in Marsh & McLennan Companies, Inc. $MMC

Citizens & Northern Corp trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 19.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,705 shares of the financial services provider’s stock after selling 1,628 shares during the quarter. Citizens & Northern Corp’s holdings in Marsh & McLennan Companies were worth $1,466,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MMC. Harbour Investments Inc. boosted its holdings in shares of Marsh & McLennan Companies by 3.6% in the 1st 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 raised its holdings in 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 buying an additional 47 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its stake in Marsh & McLennan Companies by 1.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,517 shares of the financial services provider’s stock worth $1,102,000 after buying an additional 47 shares during the period. E Fund Management Co. Ltd. increased its position 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 valued at $308,000 after acquiring an additional 47 shares during the last quarter. Finally, McAdam LLC raised its stake in shares of Marsh & McLennan Companies by 1.2% in the first quarter. McAdam LLC now owns 3,948 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 47 shares during the period. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Stock Performance

Shares of Marsh & McLennan Companies stock opened at $188.99 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19. The stock’s fifty day moving average price is $202.36 and its 200-day moving average price is $213.34. The firm has a market cap of $92.59 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.39 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a 12 month low of $185.12 and a 12 month high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.07. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.34 billion. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. On average, equities research analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 1.9%. Marsh & McLennan Companies’s payout ratio is 43.17%.

Analyst Ratings Changes

A number of research firms recently weighed in on MMC. Cantor Fitzgerald assumed coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $256.00 price objective on the stock. The Goldman Sachs Group raised Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and cut their target price for the company from $200.00 to $195.00 in a research note on Monday. Evercore ISI decreased their price target on Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Marsh & McLennan Companies in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upgraded Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $248.00 to $242.00 in a research note on Thursday, October 9th. Seven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $234.07.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the sale, the chief executive officer owned 87,681 shares of the company’s stock, valued at approximately $18,031,597.65. This trade represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

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.