United Services Automobile Association lowered its position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 20.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,302 shares of the financial services provider's stock after selling 2,826 shares during the period. United Services Automobile Association's holdings in Marsh & McLennan Companies were worth $2,521,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of MMC. Kovitz Investment Group Partners LLC lifted its position in Marsh & McLennan Companies by 197.5% during the third quarter. Kovitz Investment Group Partners LLC now owns 11,116 shares of the financial services provider's stock valued at $2,480,000 after purchasing an additional 7,380 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in shares of Marsh & McLennan Companies by 1.2% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 120,099 shares of the financial services provider's stock valued at $26,793,000 after buying an additional 1,366 shares during the period. Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Marsh & McLennan Companies by 1.4% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,863 shares of the financial services provider's stock worth $862,000 after buying an additional 55 shares during the last quarter. Swmg LLC acquired a new stake in Marsh & McLennan Companies during the third quarter worth about $614,000. Finally, Quantinno Capital Management LP raised its position in Marsh & McLennan Companies by 48.7% during the third quarter. Quantinno Capital Management LP now owns 31,460 shares of the financial services provider's stock valued at $7,018,000 after acquiring an additional 10,298 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 48,549 shares in the company, valued at $10,756,030.95. This represents a 4.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by corporate insiders.
Marsh & McLennan Companies Trading Down 1.4 %
Shares of Marsh & McLennan Companies stock traded down $3.10 during trading hours on Friday, hitting $225.16. The company's stock had a trading volume of 1,311,267 shares, compared to its average volume of 1,767,823. The firm has a fifty day moving average of $224.80 and a 200-day moving average of $220.57. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $110.58 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 2.76 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a twelve month low of $184.28 and a twelve month high of $235.50.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, topping 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 analyst estimates of $5.71 billion. During the same quarter last year, the firm posted $1.57 earnings per share. Marsh & McLennan Companies's revenue was up 5.9% compared to the same quarter last year. Research analysts forecast that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current year.
Marsh & McLennan Companies Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were given a dividend of $0.815 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 annualized dividend and a dividend yield of 1.45%. Marsh & McLennan Companies's dividend payout ratio is currently 40.15%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on MMC shares. Wells Fargo & Company lowered their price target on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an "equal weight" rating on the stock in a report on Thursday, October 10th. Bank of America raised their price objective on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Evercore ISI reiterated an "outperform" rating and set a $242.00 target price on shares of Marsh & McLennan Companies in a research report on Monday, November 25th. Keefe, Bruyette & Woods upped their price objective on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an "underperform" rating in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group set a $220.00 target price on shares of Marsh & McLennan Companies and gave the company a "sell" rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $227.60.
Check Out Our Latest Analysis on MMC
Marsh & McLennan Companies Profile
(
Free Report)
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.
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