DAVENPORT & Co LLC Trims Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

DAVENPORT & Co LLC reduced its stake in Marsh & McLennan Companies, Inc. (NYSE:MMCFree Report) by 19.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,111 shares of the financial services provider’s stock after selling 25,537 shares during the quarter. DAVENPORT & Co LLC’s holdings in Marsh & McLennan Companies were worth $19,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC lifted its position in Marsh & McLennan Companies by 105,777.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,772,516 shares of the financial services provider’s stock valued at $1,617,156,000 after purchasing an additional 9,763,286 shares during the last quarter. Norges Bank purchased a new position in Marsh & McLennan Companies during the 4th quarter valued at about $659,049,000. Morgan Stanley grew its stake in shares of Marsh & McLennan Companies by 49.2% in the 4th quarter. Morgan Stanley now owns 6,293,827 shares of the financial services provider’s stock worth $1,041,503,000 after buying an additional 2,075,928 shares during the last quarter. Capital Research Global Investors raised its position in shares of Marsh & McLennan Companies by 331.5% in the 1st quarter. Capital Research Global Investors now owns 1,830,548 shares of the financial services provider’s stock worth $311,962,000 after purchasing an additional 1,406,293 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Marsh & McLennan Companies by 133.1% during the first quarter. First Trust Advisors LP now owns 1,297,356 shares of the financial services provider’s stock valued at $221,095,000 after acquiring an additional 740,778 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Stock Performance

Marsh & McLennan Companies stock opened at $203.08 on Wednesday. The company has a market capitalization of $100.23 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 2.49 and a beta of 0.90. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a fifty day moving average of $201.04 and a two-hundred day moving average of $196.20. Marsh & McLennan Companies, Inc. has a fifty-two week low of $165.86 and a fifty-two week high of $209.20.

Marsh & McLennan Companies (NYSE:MMCGet Free Report) last issued its earnings results on Thursday, January 25th. The financial services provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.05. Marsh & McLennan Companies had a return on equity of 33.72% and a net margin of 16.52%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter last year, the firm earned $1.47 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.56 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 4th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Wednesday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio is currently 37.72%.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 12,494 shares of Marsh & McLennan Companies stock in a transaction on Monday, March 4th. The stock was sold at an average price of $200.79, for a total transaction of $2,508,670.26. Following the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at approximately $6,762,205.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Mark C. Mcgivney sold 12,494 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $200.79, for a total transaction of $2,508,670.26. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares of the company’s stock, valued at $6,762,205.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Martine Ferland sold 9,128 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $201.63, for a total transaction of $1,840,478.64. Following the transaction, the chief executive officer now owns 9,979 shares in the company, valued at $2,012,065.77. The disclosure for this sale can be found here. Insiders have sold a total of 36,751 shares of company stock worth $7,448,163 over the last quarter. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. TD Cowen assumed coverage on Marsh & McLennan Companies in a research note on Wednesday, January 10th. They set a “market perform” rating and a $189.00 price objective on the stock. The Goldman Sachs Group lowered shares of Marsh & McLennan Companies from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $215.00 to $185.00 in a research report on Monday, January 8th. Royal Bank of Canada lifted their target price on Marsh & McLennan Companies from $200.00 to $208.00 and gave the company a “sector perform” rating in a research report on Friday, January 26th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Marsh & McLennan Companies from $186.00 to $185.00 and set an “underperform” rating on the stock in a report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus price target of $202.71.

Check Out Our Latest Stock Analysis on Marsh & McLennan Companies

Marsh & McLennan Companies Company 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.

Further Reading

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Institutional Ownership by Quarter for Marsh & McLennan Companies (NYSE:MMC)

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