Xponance Inc. reduced its position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 16.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,441 shares of the financial services provider's stock after selling 15,594 shares during the period. Xponance Inc.'s holdings in Marsh & McLennan Companies were worth $16,449,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of MMC. Oppenheimer & Co. Inc. increased its stake in Marsh & McLennan Companies by 2.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,526 shares of the financial services provider's stock valued at $1,233,000 after purchasing an additional 122 shares in the last quarter. Empowered Funds LLC increased its position in Marsh & McLennan Companies by 5.4% during the third quarter. Empowered Funds LLC now owns 13,937 shares of the financial services provider's stock worth $3,109,000 after buying an additional 717 shares in the last quarter. Tower Bridge Advisors increased its position in Marsh & McLennan Companies by 4.2% during the third quarter. Tower Bridge Advisors now owns 2,218 shares of the financial services provider's stock worth $495,000 after buying an additional 89 shares in the last quarter. Claro Advisors LLC purchased a new position in Marsh & McLennan Companies during the third quarter worth $292,000. Finally, Thrivent Financial for Lutherans increased its position in Marsh & McLennan Companies by 102.3% during the third quarter. Thrivent Financial for Lutherans now owns 342,190 shares of the financial services provider's stock worth $76,339,000 after buying an additional 173,039 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on MMC shares. Evercore ISI restated an "outperform" rating and set a $242.00 price objective on shares of Marsh & McLennan Companies in a report on Monday, November 25th. Keefe, Bruyette & Woods reduced their target price on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on Marsh & McLennan Companies from $230.00 to $235.00 and gave the stock a "neutral" rating in a research note on Friday, January 3rd. Raymond James restated an "outperform" rating and set a $250.00 price objective (up previously from $240.00) on shares of Marsh & McLennan Companies in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lifted their target price on Marsh & McLennan Companies from $212.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $230.44.
Read Our Latest Research Report on Marsh & McLennan Companies
Marsh & McLennan Companies Stock Down 0.6 %
Marsh & McLennan Companies stock traded down $1.32 during midday trading on Friday, hitting $232.05. The stock had a trading volume of 3,067,065 shares, compared to its average volume of 1,638,107. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. The stock has a market cap of $113.97 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, Inc. has a 12 month low of $196.17 and a 12 month high of $241.84. The business has a fifty day moving average price of $227.10 and a 200 day moving average price of $223.82.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.12. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. Research analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.
Marsh & McLennan Companies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 3rd will be paid a $0.815 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $3.26 dividend on an annualized basis and a yield of 1.40%. Marsh & McLennan Companies's payout ratio is currently 39.80%.
Insider Transactions at Marsh & McLennan Companies
In other news, CEO Dean Michael Klisura sold 7,121 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $234.97, for a total transaction of $1,673,221.37. Following the completion of the transaction, the chief executive officer now directly owns 20,935 shares in the company, valued at approximately $4,919,096.95. The trade was a 25.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nicholas Mark Studer sold 49,390 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 28,329 shares of the company's stock, valued at approximately $6,520,202.64. This represents a 63.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,828 shares of company stock worth $13,350,279. Company insiders own 0.30% of the company's stock.
Marsh & McLennan Companies Company Profile
(
Free Report)
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.
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