Banque Pictet & Cie SA Trims Stake in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Banque Pictet & Cie SA reduced its stake in Marsh & McLennan Companies by 1.6%, resulting in ownership of 227,968 shares valued at approximately $49.84 million.
• CEO John Q. Doyle executed a substantial sale of 21,079 shares, translating to a 19.38% decrease in his holdings, which are now valued at around $18.03 million.
• Marsh & McLennan Companies announced a quarterly dividend of $0.90 per share to be paid on November 14th, representing a 1.8% dividend yield.

Banque Pictet & Cie SA trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 227,968 shares of the financial services provider's stock after selling 3,618 shares during the quarter. Banque Pictet & Cie SA's holdings in Marsh & McLennan Companies were worth $49,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MMC. Brighton Jones LLC boosted 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 purchasing an additional 2,960 shares in the last quarter. Bison Wealth LLC boosted 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 purchasing an additional 869 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter worth about $37,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Marsh & McLennan Companies by 5.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,333 shares of the financial services provider's stock worth $10,904,000 after purchasing an additional 2,690 shares in the last quarter. Finally, 111 Capital purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter worth about $459,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total value of $4,334,896.35. Following the completion of the transaction, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wolfe Research began coverage on Marsh & McLennan Companies in a report on Tuesday, September 16th. They issued a "peer perform" rating for the company. Citigroup began coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued 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 target price for the company. Barclays lowered their target price on Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. Finally, Keefe, Bruyette & Woods lowered their target price 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. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Marsh & McLennan Companies presently has an average rating of "Hold" and an average target price of $238.76.

Marsh & McLennan Companies Trading Down 0.9%

MMC opened at $197.86 on Friday. The business has a 50 day simple moving average of $204.11 and a two-hundred day simple moving average of $218.02. The firm has a market capitalization of $97.27 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.51 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, Inc. has a one year low of $195.01 and a one year high of $248.00.

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 EPS for the quarter, beating analysts' consensus estimates of $2.66 by $0.06. The business had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.92 billion. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%.Marsh & McLennan Companies's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.41 EPS. Analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 annualized dividend and a dividend yield of 1.8%. Marsh & McLennan Companies's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding MMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.