Marsh & McLennan Companies, Inc. $MMC Shares Purchased by Glenview Trust Co

Glenview Trust Co raised its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2,554.0% during the third quarter, HoldingsChannel.com reports. The firm owned 103,427 shares of the financial services provider’s stock after buying an additional 99,530 shares during the quarter. Glenview Trust Co’s holdings in Marsh & McLennan Companies were worth $20,844,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Marsh & McLennan Companies in the second quarter worth $1,328,587,000. Soundwatch Capital LLC purchased a new stake in Marsh & McLennan Companies during the 2nd quarter worth $560,820,000. Mackenzie Financial Corp increased its holdings in Marsh & McLennan Companies by 212.6% in the 2nd quarter. Mackenzie Financial Corp now owns 2,285,194 shares of the financial services provider’s stock valued at $499,635,000 after purchasing an additional 1,554,114 shares in the last quarter. Amundi lifted its stake in shares of Marsh & McLennan Companies by 89.2% during the second quarter. Amundi now owns 2,892,576 shares of the financial services provider’s stock worth $615,309,000 after purchasing an additional 1,363,706 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Marsh & McLennan Companies by 1.8% in the second quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock worth $10,092,108,000 after buying an additional 837,117 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

Shares of MMC stock opened at $182.39 on Tuesday. The firm has a fifty day moving average of $183.94 and a two-hundred day moving average of $190.91. The firm has a market cap of $89.35 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.87 and a beta of 0.76. Marsh & McLennan Companies, Inc. has a 1-year low of $174.18 and a 1-year high of $248.00. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12.

Marsh & McLennan Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Thursday, January 29th were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, January 29th. This represents a $3.60 annualized dividend and a yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio is presently 43.17%.

Insider Buying and Selling

In other news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $182.22, for a total value of $3,841,015.38. Following the completion of the transaction, the chief executive officer owned 87,681 shares in the company, valued at approximately $15,977,231.82. 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 the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MMC shares. Cantor Fitzgerald reduced their price target on Marsh & McLennan Companies from $226.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. JPMorgan Chase & Co. reduced their target price on shares of Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Evercore dropped their price target on shares of Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 7th. Mizuho initiated coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $212.00 price objective for the company. Finally, Barclays lifted their target price on Marsh & McLennan Companies from $206.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $216.88.

Marsh & McLennan Companies Profile

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.