Parnassus Investments LLC Sells 705,739 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Parnassus Investments LLC lessened its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 16.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,569,141 shares of the financial services provider's stock after selling 705,739 shares during the quarter. Marsh & McLennan Companies accounts for about 1.7% of Parnassus Investments LLC's investment portfolio, making the stock its 20th biggest holding. Parnassus Investments LLC owned about 0.73% of Marsh & McLennan Companies worth $758,121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in MMC. Modera Wealth Management LLC boosted its position in Marsh & McLennan Companies by 2.5% during the 4th quarter. Modera Wealth Management LLC now owns 1,885 shares of the financial services provider's stock worth $400,000 after acquiring an additional 46 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Marsh & McLennan Companies by 3.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,324 shares of the financial services provider's stock valued at $281,000 after buying an additional 47 shares in the last quarter. Hemington Wealth Management raised its position in Marsh & McLennan Companies by 6.7% during the fourth quarter. Hemington Wealth Management now owns 768 shares of the financial services provider's stock worth $163,000 after acquiring an additional 48 shares in the last quarter. New England Professional Planning Group Inc. increased its position in Marsh & McLennan Companies by 4.1% during the fourth quarter. New England Professional Planning Group Inc. now owns 1,261 shares of the financial services provider's stock worth $268,000 after buying an additional 50 shares during the last quarter. Finally, TFB Advisors LLC boosted its position in Marsh & McLennan Companies by 2.0% during the fourth quarter. TFB Advisors LLC now owns 2,576 shares of the financial services provider's stock worth $547,000 after purchasing an additional 51 shares during the period. Institutional investors own 87.99% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other news, CEO Nicholas Mark Studer sold 49,390 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $230.16, for a total value of $11,367,602.40. Following the completion of the transaction, the chief executive officer now directly owns 28,329 shares of the company's stock, valued at $6,520,202.64. This trade represents a 63.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stacy Mills sold 1,317 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $234.97, for a total value of $309,455.49. Following the sale, the vice president now directly owns 2,923 shares in the company, valued at $686,817.31. This trade represents a 31.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,828 shares of company stock worth $13,350,279 over the last quarter. 0.30% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Stock Performance

NYSE MMC traded down $0.90 during trading hours on Tuesday, reaching $232.01. 1,510,769 shares of the company were exchanged, compared to its average volume of 1,638,038. The business's 50 day simple moving average is $225.34 and its 200-day simple moving average is $223.63. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. Marsh & McLennan Companies, Inc. has a 1 year low of $196.17 and a 1 year high of $241.84. The stock has a market capitalization of $113.95 billion, a P/E ratio of 28.33, a P/E/G ratio of 2.70 and a beta of 0.95.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.12. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. On average, equities research analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, April 3rd. Marsh & McLennan Companies's dividend payout ratio (DPR) is presently 39.80%.

Analysts Set New Price Targets

Several equities analysts have weighed in on MMC shares. Keefe, Bruyette & Woods dropped their price objective on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a report on Monday, February 3rd. Raymond James reissued an "outperform" rating and set a $250.00 price target (up previously from $240.00) on shares of Marsh & McLennan Companies in a report on Thursday, February 6th. Wells Fargo & Company lifted their target price on Marsh & McLennan Companies from $212.00 to $223.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Barclays boosted their target price on Marsh & McLennan Companies from $236.00 to $246.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Marsh & McLennan Companies from $230.00 to $235.00 and gave the company a "neutral" rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $230.44.

Marsh & McLennan Companies Company 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.