Allspring Global Investments Holdings LLC Reduces Stock Position in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Marsh & McLennan Companies, Inc. by 7.5%, selling 14,476 shares during the second quarter, bringing its total holdings to 177,903 shares worth approximately $38.75 million.
• Several major institutional investors, including Vanguard Group Inc. and Wellington Management Group LLP, increased their positions in Marsh & McLennan in the first quarter, highlighting ongoing institutional interest in the company.
• Marsh & McLennan announced a quarterly dividend of $0.90 per share, with a payout ratio of 43.17%, reflecting its solid financial performance and shareholder return strategy.

Allspring Global Investments Holdings LLC decreased its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,903 shares of the financial services provider's stock after selling 14,476 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Marsh & McLennan Companies were worth $38,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Marsh & McLennan Companies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,321,445 shares of the financial services provider's stock valued at $11,059,792,000 after buying an additional 581,930 shares during the period. Wellington Management Group LLP grew its holdings in Marsh & McLennan Companies by 54.2% in the 1st quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider's stock valued at $3,127,193,000 after buying an additional 4,505,548 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Marsh & McLennan Companies by 8.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,345,211 shares of the financial services provider's stock valued at $1,060,362,000 after purchasing an additional 340,907 shares in the last quarter. Nuveen LLC acquired a new position in shares of Marsh & McLennan Companies in the 1st quarter valued at about $1,038,594,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Marsh & McLennan Companies by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,858,136 shares of the financial services provider's stock valued at $697,471,000 after purchasing an additional 65,778 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company's stock.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 in the company, valued at $18,031,597.65. The trade was a 19.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by corporate insiders.

Marsh & McLennan Companies Price Performance

MMC stock opened at $204.05 on Thursday. 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 52-week low of $195.01 and a 52-week high of $248.00. The stock's 50 day moving average is $203.55 and its two-hundred day moving average is $214.98. The company has a market capitalization of $100.31 billion, a PE ratio of 24.47, a P/E/G ratio of 2.61 and a beta of 0.81.

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

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, October 2nd. 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 firms have recently weighed in on MMC. Cantor Fitzgerald began coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 price objective on the stock. Citigroup began coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price objective on the stock. Morgan Stanley reduced their price objective on Marsh & McLennan Companies from $220.00 to $215.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 7th. UBS Group reduced their price objective on Marsh & McLennan Companies from $258.00 to $257.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods reduced their price target on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a research report on Monday, July 21st. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $237.13.

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.

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