Federated Hermes Inc. Sells 8,453 Shares of Marsh & McLennan Companies, Inc. $MMC

Federated Hermes Inc. decreased its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 62.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,065 shares of the financial services provider’s stock after selling 8,453 shares during the period. Federated Hermes Inc.’s holdings in Marsh & McLennan Companies were worth $1,021,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Marsh & McLennan Companies by 1.8% in the second quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock worth $10,092,108,000 after purchasing an additional 837,117 shares during the last quarter. Geode Capital Management LLC raised its position in Marsh & McLennan Companies by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 12,684,210 shares of the financial services provider’s stock worth $2,762,513,000 after buying an additional 196,475 shares during the last quarter. Norges Bank bought a new position in Marsh & McLennan Companies during the 2nd quarter valued at about $1,328,587,000. Artisan Partners Limited Partnership grew its stake in shares of Marsh & McLennan Companies by 0.9% in the second quarter. Artisan Partners Limited Partnership now owns 3,443,454 shares of the financial services provider’s stock worth $752,877,000 after acquiring an additional 32,118 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Marsh & McLennan Companies by 1.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,901,598 shares of the financial services provider’s stock valued at $634,405,000 after purchasing an additional 43,462 shares during the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of the 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 completion of the sale, the chief executive officer owned 87,681 shares in the company, valued at approximately $15,977,231.82. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Stock Performance

Shares of NYSE MMC opened at $182.39 on Friday. The stock has a market cap of $89.35 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. Marsh & McLennan Companies, Inc. has a 1 year low of $174.18 and a 1 year high of $248.00. The firm has a fifty day moving average price of $184.00 and a 200-day moving average price of $192.10. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12.

Marsh & McLennan Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 29th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, January 29th. Marsh & McLennan Companies’s payout ratio is presently 43.17%.

Analysts Set New Price Targets

A number of research firms have commented on MMC. Bank of America reaffirmed an “underperform” rating and issued a $181.00 target price (down previously from $243.00) on shares of Marsh & McLennan Companies in a research report on Monday, November 3rd. Keefe, Bruyette & Woods increased their target price on Marsh & McLennan Companies from $191.00 to $205.00 and gave the company a “market perform” rating in a report on Tuesday, January 6th. Royal Bank Of Canada started coverage on Marsh & McLennan Companies in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $200.00 price target for the company. Cantor Fitzgerald lowered their price objective on shares of Marsh & McLennan Companies from $226.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Finally, Mizuho began coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, December 16th. They set an “outperform” rating and a $212.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $216.88.

Marsh & McLennan Companies Profile

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.