Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 27.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 352,656 shares of the financial services provider's stock after selling 133,885 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Marsh & McLennan Companies worth $74,908,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC increased its position in Marsh & McLennan Companies by 2.5% during the 3rd quarter. FMR LLC now owns 21,445,110 shares of the financial services provider's stock valued at $4,784,190,000 after purchasing an additional 518,185 shares during the period. Geode Capital Management LLC increased its position in Marsh & McLennan Companies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 11,905,431 shares of the financial services provider's stock valued at $2,648,304,000 after purchasing an additional 251,361 shares during the period. Parnassus Investments LLC increased its position in Marsh & McLennan Companies by 2.0% during the 3rd quarter. Parnassus Investments LLC now owns 4,274,880 shares of the financial services provider's stock valued at $953,683,000 after purchasing an additional 85,754 shares during the period. Amundi increased its position in Marsh & McLennan Companies by 81.1% during the 4th quarter. Amundi now owns 4,072,976 shares of the financial services provider's stock valued at $860,824,000 after purchasing an additional 1,823,807 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Marsh & McLennan Companies by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,999,771 shares of the financial services provider's stock valued at $892,309,000 after purchasing an additional 184,239 shares during the period. Hedge funds and other institutional investors own 87.99% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of research analysts have commented on MMC shares. Keefe, Bruyette & Woods cut their target price on shares of 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. Wells Fargo & Company raised their price target on shares of Marsh & McLennan Companies from $212.00 to $223.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Barclays raised their price target on shares of Marsh & McLennan Companies from $236.00 to $246.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. Royal Bank of Canada upgraded shares of Marsh & McLennan Companies from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $242.00 to $250.00 in a report on Thursday, December 12th. Finally, Evercore ISI restated an "outperform" rating and issued a $242.00 price target on shares of Marsh & McLennan Companies in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Marsh & McLennan Companies currently has a consensus rating of "Hold" and an average target price of $230.44.

Marsh & McLennan Companies Stock Performance

NYSE MMC traded down $3.33 on Wednesday, hitting $229.78. 1,828,823 shares of the company's stock traded hands, compared to its average volume of 1,640,175. The company has a current ratio of 1.13, a quick 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 firm's 50-day moving average price is $224.07 and its two-hundred day moving average price is $223.53. The firm has a market capitalization of $112.85 billion, a PE 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 announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.75 by $0.12. Marsh & McLennan Companies had a net margin of 16.60% and a return on equity of 32.60%. As a group, analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 1.42%. Marsh & McLennan Companies's dividend payout ratio (DPR) is 39.80%.

Insider Activity

In related news, CEO Dean Michael Klisura sold 7,121 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $234.97, for a total value of $1,673,221.37. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stacy Mills sold 1,317 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $234.97, for a total transaction of $309,455.49. Following the completion of the sale, the vice president now directly owns 2,923 shares of the company's stock, valued at approximately $686,817.31. The trade was a 31.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

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.