Icon Wealth Advisors LLC Sells 9,817 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Icon Wealth Advisors LLC lowered its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 83.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,942 shares of the financial services provider’s stock after selling 9,817 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Marsh & McLennan Companies were worth $433,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Carmichael Hill & Associates Inc. grew its holdings in Marsh & McLennan Companies by 85.7% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 130 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 60 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Marsh & McLennan Companies during the third quarter valued at approximately $31,000. Crewe Advisors LLC increased its holdings in shares of Marsh & McLennan Companies by 100.0% in the second quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 80 shares in the last quarter. Iron Horse Wealth Management LLC lifted its holdings in Marsh & McLennan Companies by 712.5% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 195 shares of the financial services provider’s stock worth $41,000 after buying an additional 171 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Marsh & McLennan Companies in the 2nd quarter valued at $41,000. Institutional investors own 87.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MMC. The Goldman Sachs Group set a $220.00 price target on Marsh & McLennan Companies and gave the company a “sell” rating in a research note on Friday, October 18th. Roth Mkm raised their target price on shares of Marsh & McLennan Companies from $220.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods increased their price objective on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. Barclays lifted their target price on shares of Marsh & McLennan Companies from $236.00 to $246.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Bank of America increased their price target on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $226.00.

Marsh & McLennan Companies Trading Up 1.5 %

NYSE:MMC opened at $227.82 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50-day simple moving average is $223.67 and its 200-day simple moving average is $218.82. Marsh & McLennan Companies, Inc. has a fifty-two week low of $184.28 and a fifty-two week high of $232.32. The stock has a market capitalization of $111.89 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 3.34 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.02. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the company earned $1.57 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 8.69 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were issued a $0.815 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.43%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 40.15%.

Insider Transactions at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total transaction of $553,875.00. Following the completion of the transaction, the director now owns 48,549 shares in the company, valued at approximately $10,756,030.95. This represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by insiders.

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.