Axxcess Wealth Management LLC Sells 1,448 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• Axxcess Wealth Management LLC reduced its stake in Marsh & McLennan Companies, Inc. by 9.2%, selling 1,448 shares and holding 14,308 shares valued at approximately $3.1 million.
• Several institutional investors increased their positions in Marsh & McLennan, with Wealth Enhancement Advisory Services raising its stake by 101.7% during the first quarter.
• Marsh & McLennan's recent earnings report showed a 12.1% year-over-year revenue increase, with the company expected to post $9.61 EPS for the current year.

Axxcess Wealth Management LLC decreased its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,308 shares of the financial services provider's stock after selling 1,448 shares during the quarter. Axxcess Wealth Management LLC's holdings in Marsh & McLennan Companies were worth $3,128,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MMC. Wealth Enhancement Advisory Services LLC raised its stake in Marsh & McLennan Companies by 101.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 103,551 shares of the financial services provider's stock worth $25,270,000 after acquiring an additional 52,218 shares in the last quarter. LPL Financial LLC raised its stake in Marsh & McLennan Companies by 9.9% during the first quarter. LPL Financial LLC now owns 324,035 shares of the financial services provider's stock worth $78,662,000 after acquiring an additional 29,247 shares in the last quarter. Penserra Capital Management LLC raised its stake in Marsh & McLennan Companies by 101.4% during the first quarter. Penserra Capital Management LLC now owns 7,136 shares of the financial services provider's stock worth $1,741,000 after acquiring an additional 3,593 shares in the last quarter. US Asset Management LLC raised its stake in Marsh & McLennan Companies by 23.1% during the first quarter. US Asset Management LLC now owns 6,847 shares of the financial services provider's stock worth $1,671,000 after acquiring an additional 1,284 shares in the last quarter. Finally, Geneva Partners LLC acquired a new position in Marsh & McLennan Companies during the first quarter worth about $4,673,000. Institutional investors own 87.99% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup began coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set a "neutral" rating and a $226.00 target price for the company. 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 for the company. Keefe, Bruyette & Woods lowered their price objective on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a research note on Monday, July 21st. JPMorgan Chase & Co. raised Marsh & McLennan Companies from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $248.00 to $242.00 in a research note on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Marsh & McLennan Companies in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $237.13.

Insider Activity

In other news, CEO John Q. Doyle sold 21,079 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 87,681 shares of the company's stock, valued at $18,031,597.65. This trade represents a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.35% of the company's stock.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $207.01 on Wednesday. The business's 50 day simple moving average is $203.54 and its 200 day simple moving average is $215.05. Marsh & McLennan Companies, Inc. has a one year low of $195.01 and a one year high of $248.00. The stock has a market capitalization of $101.77 billion, a PE ratio of 24.82, a PEG ratio of 2.59 and a beta of 0.81. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.20 and a quick ratio of 1.20.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $2.72 EPS for the quarter, beating 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 business had revenue of $6.97 billion for the quarter, compared to analysts' expectations of $6.92 billion. During the same period in the prior year, the business posted $2.41 earnings per share. The firm's revenue was up 12.1% on a year-over-year basis. As a group, research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

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

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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