Swiss National Bank cut its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,389,300 shares of the financial services provider's stock after selling 75,600 shares during the period. Swiss National Bank owned about 0.28% of Marsh & McLennan Companies worth $295,101,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of MMC. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Marsh & McLennan Companies by 82.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 168,493 shares of the financial services provider's stock valued at $35,790,000 after acquiring an additional 76,336 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Marsh & McLennan Companies by 5.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 28,788 shares of the financial services provider's stock valued at $6,115,000 after purchasing an additional 1,612 shares during the last quarter. Great Lakes Advisors LLC boosted its position in Marsh & McLennan Companies by 80.6% in the fourth quarter. Great Lakes Advisors LLC now owns 2,184 shares of the financial services provider's stock valued at $464,000 after buying an additional 975 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Marsh & McLennan Companies by 7.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,042 shares of the financial services provider's stock worth $1,071,000 after buying an additional 335 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Marsh & McLennan Companies by 13.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 130,509 shares of the financial services provider's stock valued at $27,721,000 after acquiring an additional 15,079 shares during the last quarter. Institutional investors own 87.99% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on MMC. Wells Fargo & Company increased their price target 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. JPMorgan Chase & Co. raised their target price on Marsh & McLennan Companies from $230.00 to $235.00 and gave the company a "neutral" rating in a research note on Friday, January 3rd. Royal Bank of Canada upgraded shares of Marsh & McLennan Companies from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $242.00 to $250.00 in a research report on Thursday, December 12th. Raymond James reissued an "outperform" rating and set a $250.00 price target (up from $240.00) on shares of Marsh & McLennan Companies in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods decreased their price objective on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of "Hold" and a consensus target price of $230.44.
Check Out Our Latest Research Report on MMC
Insider Activity
In other news, VP Stacy Mills sold 1,317 shares of the business's 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. The trade was a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dean Michael Klisura sold 7,121 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 $1,673,221.37. Following the transaction, the chief executive officer now owns 20,935 shares of the company's stock, valued at approximately $4,919,096.95. The trade was a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.
Marsh & McLennan Companies Trading Down 1.4 %
Shares of NYSE MMC opened at $229.78 on Thursday. 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 twelve month low of $196.17 and a twelve month high of $241.84. The company's fifty day moving average is $224.07 and its 200-day moving average is $223.53. The stock has a market cap of $112.85 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 2.70 and a beta of 0.95.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share (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%. Equities 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 declared 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. This represents a $3.26 dividend on an annualized basis and a yield of 1.42%. Marsh & McLennan Companies's payout ratio is currently 39.80%.
About Marsh & McLennan Companies
(
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.
Further Reading
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