Apollon Wealth Management LLC Trims Position in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Apollon Wealth Management LLC reduced its stake in Marsh & McLennan Companies by 2.5%, holding 59,094 shares worth approximately $12.92 million after the sale.
• CEO John Q. Doyle sold 21,079 shares at an average price of $205.65, decreasing his position by 19.38% and retaining 87,681 shares valued at over $18 million.
• Marsh & McLennan Companies announced a quarterly dividend of $0.90 per share, representing a yield of 1.7% and reflecting a payout ratio of 43.17%.

Apollon Wealth Management LLC cut its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,094 shares of the financial services provider's stock after selling 1,486 shares during the quarter. Apollon Wealth Management LLC's holdings in Marsh & McLennan Companies were worth $12,920,000 at the end of the most recent reporting period.

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

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 on 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 owned 87,681 shares of the company's stock, valued at $18,031,597.65. The trade was a 19.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Price Performance

Marsh & McLennan Companies stock opened at $207.12 on Friday. The company's fifty day moving average price is $203.29 and its 200 day moving average price is $215.73. Marsh & McLennan Companies, Inc. has a 1 year low of $195.01 and a 1 year high of $248.00. The stock has a market capitalization of $101.82 billion, a P/E ratio of 24.83, a P/E/G ratio of 2.60 and a beta of 0.81. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.20 and a current ratio of 1.20.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $6.92 billion. During the same quarter last year, the company earned $2.41 EPS. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 2nd. Marsh & McLennan Companies's payout ratio is 43.17%.

Wall Street Analyst Weigh In

MMC has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an "equal weight" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. raised shares of Marsh & McLennan Companies from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $248.00 to $242.00 in a research note on Thursday. Cantor Fitzgerald initiated coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set an "overweight" rating and a $256.00 price objective on the stock. Citigroup initiated coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set a "neutral" rating and a $226.00 price objective on the stock. Finally, UBS Group dropped 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 note on Wednesday. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $237.13.

Marsh & McLennan Companies Profile

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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