Assenagon Asset Management S.A. Trims Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Assenagon Asset Management S.A. cut its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 98.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,748 shares of the financial services provider's stock after selling 1,093,010 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Marsh & McLennan Companies were worth $3,843,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MMC. Modera Wealth Management LLC lifted its holdings in Marsh & McLennan Companies by 2.5% during the fourth quarter. Modera Wealth Management LLC now owns 1,885 shares of the financial services provider's stock worth $400,000 after acquiring an additional 46 shares during the period. DF Dent & Co. Inc. grew its position in Marsh & McLennan Companies by 0.9% during the fourth quarter. DF Dent & Co. Inc. now owns 5,762 shares of the financial services provider's stock valued at $1,224,000 after buying an additional 49 shares during the period. New England Professional Planning Group Inc. raised its position in Marsh & McLennan Companies by 4.1% in the fourth quarter. New England Professional Planning Group Inc. now owns 1,261 shares of the financial services provider's stock worth $268,000 after acquiring an additional 50 shares during the period. Gerber Kawasaki Wealth & Investment Management boosted its stake in Marsh & McLennan Companies by 4.1% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,260 shares of the financial services provider's stock valued at $268,000 after acquiring an additional 50 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Marsh & McLennan Companies by 29.1% during the 4th quarter. Covestor Ltd now owns 231 shares of the financial services provider's stock worth $49,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Price Performance

NYSE:MMC traded down $0.89 during trading hours on Monday, hitting $216.49. 2,524,837 shares of the company's stock traded hands, compared to its average volume of 1,941,302. Marsh & McLennan Companies, Inc. has a 52 week low of $207.21 and a 52 week high of $248.00. The business's fifty day simple moving average is $226.42 and its two-hundred day simple moving average is $225.29. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. The firm has a market cap of $106.67 billion, a P/E ratio of 26.43, a P/E/G ratio of 2.70 and a beta of 0.83.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $3.02 by $0.04. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.08 billion. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. During the same quarter in the previous year, the firm earned $2.89 earnings per share. On average, research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MMC shares. Jefferies Financial Group increased their price objective on Marsh & McLennan Companies from $237.00 to $244.00 and gave the company a "hold" rating in a report on Friday, April 11th. Redburn Atlantic assumed coverage on Marsh & McLennan Companies in a report on Tuesday, March 25th. They issued a "buy" rating and a $281.00 price objective for the company. Keefe, Bruyette & Woods dropped their price objective on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an "underperform" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company lifted their target price on shares of Marsh & McLennan Companies from $223.00 to $232.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 10th. Finally, UBS Group raised their price objective on shares of Marsh & McLennan Companies from $259.00 to $261.00 and gave the stock a "buy" rating in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Marsh & McLennan Companies presently has an average rating of "Hold" and an average price target of $241.93.

Insider Activity

In related news, CEO Dean Michael Klisura sold 9,569 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $245.00, for a total transaction of $2,344,405.00. Following the transaction, the chief executive officer now directly owns 20,935 shares in the company, valued at $5,129,075. This trade represents a 31.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul Beswick sold 2,237 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $246.00, for a total transaction of $550,302.00. Following the completion of the transaction, the senior vice president now owns 13,522 shares in the company, valued at $3,326,412. This represents a 14.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

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.