Truist Financial Corp Sells 22,730 Shares of Marsh & McLennan Companies, Inc. $MMC

Truist Financial Corp trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 338,416 shares of the financial services provider’s stock after selling 22,730 shares during the quarter. Truist Financial Corp owned 0.07% of Marsh & McLennan Companies worth $68,201,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MMC. Norges Bank purchased a new position in Marsh & McLennan Companies during the 2nd quarter valued at about $1,328,587,000. Valeo Financial Advisors LLC raised its stake in Marsh & McLennan Companies by 48,212.9% in the second quarter. Valeo Financial Advisors LLC now owns 2,629,187 shares of the financial services provider’s stock worth $574,845,000 after buying an additional 2,623,745 shares in the last quarter. Soundwatch Capital LLC purchased a new stake in Marsh & McLennan Companies during the second quarter worth $560,820,000. Mackenzie Financial Corp boosted its position in Marsh & McLennan Companies by 212.6% during the 2nd quarter. Mackenzie Financial Corp now owns 2,285,194 shares of the financial services provider’s stock valued at $499,635,000 after acquiring an additional 1,554,114 shares in the last quarter. Finally, Amundi raised its position in shares of Marsh & McLennan Companies by 89.2% in the 2nd quarter. Amundi now owns 2,892,576 shares of the financial services provider’s stock worth $615,309,000 after acquiring an additional 1,363,706 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the sale, the chief executive officer owned 87,681 shares in the company, valued at approximately $15,977,231.82. The trade was a 19.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Stock Down 1.7%

NYSE:MMC opened at $182.39 on Thursday. The company’s 50 day moving average is $183.87 and its two-hundred day moving average is $193.39. The company has a market cap of $89.35 billion, a PE ratio of 21.87, a P/E/G ratio of 2.87 and a beta of 0.76. Marsh & McLennan Companies, Inc. has a twelve month low of $174.18 and a twelve month high of $248.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 29th will be paid a $0.90 dividend. The ex-dividend date is Thursday, January 29th. This represents a $3.60 dividend on an annualized basis and a yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 43.17%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MMC. Bank of America reaffirmed an “underperform” rating and set a $181.00 price objective (down previously from $243.00) on shares of Marsh & McLennan Companies in a research report on Monday, November 3rd. UBS Group cut their price objective on shares of Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on shares of Marsh & McLennan Companies from $191.00 to $205.00 and gave the company a “market perform” rating in a research report on Tuesday, January 6th. TD Cowen cut their price target on shares of Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating on the stock in a report on Monday, November 3rd. Finally, Mizuho initiated coverage on Marsh & McLennan Companies in a report on Tuesday, December 16th. They set an “outperform” rating and a $212.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $218.82.

About Marsh & McLennan Companies

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.