Acadian Asset Management LLC Sells 363,518 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• Acadian Asset Management LLC reduced its stake in Marsh & McLennan Companies by 23.2% in the first quarter, owning approximately 1.2 million shares post-sale, valued at $294 million.
• CEO John Q. Doyle sold 21,079 shares at $205.65 each, decreasing his holdings by 19.38% to about $18 million.
• Marsh & McLennan recently declared a quarterly dividend of $0.90 per share, marking a raise from the previous $0.82, with an annualized payout of $3.60.

Acadian Asset Management LLC cut its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 23.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,205,122 shares of the financial services provider's stock after selling 363,518 shares during the quarter. Marsh & McLennan Companies accounts for about 0.8% of Acadian Asset Management LLC's holdings, making the stock its 28th biggest holding. Acadian Asset Management LLC owned approximately 0.24% of Marsh & McLennan Companies worth $294,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of Marsh & McLennan Companies by 51.2% in the 4th quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider's stock worth $1,856,000 after acquiring an additional 2,960 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in shares of Marsh & McLennan Companies in the 4th quarter worth approximately $37,178,000. Bison Wealth LLC lifted its holdings in shares of Marsh & McLennan Companies by 39.6% in the 4th quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider's stock worth $651,000 after acquiring an additional 869 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Marsh & McLennan Companies by 212.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 10,674 shares of the financial services provider's stock worth $2,267,000 after buying an additional 7,254 shares during the period. Finally, Focus Partners Wealth increased its stake in shares of Marsh & McLennan Companies by 26.8% in the fourth quarter. Focus Partners Wealth now owns 28,317 shares of the financial services provider's stock worth $6,015,000 after buying an additional 5,990 shares during the period. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Stock Down 0.2%

Shares of NYSE:MMC traded down $0.49 during midday trading on Friday, reaching $202.97. The company's stock had a trading volume of 2,652,548 shares, compared to its average volume of 1,856,531. The firm has a 50 day moving average of $206.85 and a 200-day moving average of $220.43. The firm has a market capitalization of $99.78 billion, a P/E ratio of 24.34, a PEG ratio of 2.56 and a beta of 0.81. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.19. Marsh & McLennan Companies, Inc. has a 12-month low of $196.27 and a 12-month high of $248.00.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.06. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The firm had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the prior year, the firm earned $2.41 EPS. The company's revenue was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 24th were given a dividend of $0.90 per share. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Thursday, July 24th. This represents a $3.60 annualized dividend and a yield of 1.8%. Marsh & McLennan Companies's payout ratio is currently 43.17%.

Analyst Ratings Changes

Several research analysts recently commented on MMC shares. Wells Fargo & Company decreased their target price on shares of Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. Citigroup started coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 target price on the stock. Barclays decreased their target price on shares of Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Cantor Fitzgerald started coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set an "overweight" rating and a $256.00 price objective on the stock. Finally, UBS Group reduced their price objective on shares of Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $238.76.

Insider Buying and Selling

In related news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the sale, the chief executive officer directly owned 87,681 shares of the company's stock, valued at approximately $18,031,597.65. This represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.35% of the company's stock.

About Marsh & McLennan Companies

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.