SVB Wealth LLC lowered its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,963 shares of the financial services provider’s stock after selling 18,761 shares during the period. SVB Wealth LLC’s holdings in Marsh & McLennan Companies were worth $31,805,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Longview Partners Guernsey LTD grew its stake in Marsh & McLennan Companies by 8.6% in the first quarter. Longview Partners Guernsey LTD now owns 3,396,810 shares of the financial services provider’s stock valued at $565,739,000 after purchasing an additional 268,561 shares during the last quarter. Wetherby Asset Management Inc. grew its stake in Marsh & McLennan Companies by 7.5% in the first quarter. Wetherby Asset Management Inc. now owns 11,026 shares of the financial services provider’s stock valued at $1,836,000 after purchasing an additional 768 shares during the last quarter. State of Tennessee Treasury Department grew its stake in Marsh & McLennan Companies by 4.1% in the first quarter. State of Tennessee Treasury Department now owns 330,576 shares of the financial services provider’s stock valued at $55,057,000 after purchasing an additional 12,909 shares during the last quarter. Gabelli Funds LLC grew its stake in Marsh & McLennan Companies by 7.4% in the first quarter. Gabelli Funds LLC now owns 133,400 shares of the financial services provider’s stock valued at $22,218,000 after purchasing an additional 9,200 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Marsh & McLennan Companies by 15.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,165,979 shares of the financial services provider’s stock worth $194,194,000 after acquiring an additional 159,646 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.
Insider Activity
In related news, CFO Mark C. Mcgivney sold 70,106 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $185.53, for a total transaction of $13,006,766.18. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares in the company, valued at $6,248,279.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 70,106 shares of the business’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $185.53, for a total transaction of $13,006,766.18. Following the transaction, the chief financial officer now owns 33,678 shares of the company’s stock, valued at $6,248,279.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Oscar Fanjul sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $194.90, for a total value of $584,700.00. Following the transaction, the director now directly owns 63,012 shares in the company, valued at approximately $12,281,038.80. The disclosure for this sale can be found here. Insiders sold 86,082 shares of company stock worth $16,085,453 over the last three months. 0.30% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on MMC. Evercore ISI raised Marsh & McLennan Companies from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $195.00 to $199.00 in a report on Thursday, June 8th. Citigroup raised their price target on Marsh & McLennan Companies from $197.00 to $201.00 and gave the stock a “neutral” rating in a report on Monday, July 24th. Bank of America raised Marsh & McLennan Companies from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $189.00 to $210.00 in a report on Friday, July 21st. BMO Capital Markets lifted their target price on Marsh & McLennan Companies from $168.00 to $192.00 in a report on Monday, May 15th. Finally, JPMorgan Chase & Co. lifted their target price on Marsh & McLennan Companies from $182.00 to $197.00 in a report on Thursday, July 6th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $193.23.
Get Our Latest Analysis on Marsh & McLennan Companies
Marsh & McLennan Companies Stock Performance
NYSE:MMC traded down $0.61 during trading hours on Friday, reaching $195.09. The company had a trading volume of 346,402 shares, compared to its average volume of 1,597,436. The firm has a market cap of $96.36 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.40 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 1-year low of $148.11 and a 1-year high of $197.79. The business’s 50 day moving average price is $190.31 and its 200-day moving average price is $178.39. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 1.05.
Marsh & McLennan Companies (NYSE:MMC – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.08. The business had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Marsh & McLennan Companies had a return on equity of 33.69% and a net margin of 15.20%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 earnings per share. Research analysts forecast that Marsh & McLennan Companies, Inc. will post 7.71 EPS for the current year.
Marsh & McLennan Companies Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Thursday, July 27th were given a $0.71 dividend. The ex-dividend date of this dividend was Wednesday, July 26th. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.59. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.46%. Marsh & McLennan Companies’s payout ratio is 43.36%.
Marsh & McLennan Companies Profile
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 in two segments, Risk and Insurance Services, and Consulting. 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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