Curi RMB Capital LLC Sells 16,413 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• Curi RMB Capital LLC reduced its holdings in Marsh & McLennan Companies by 19.4% in the first quarter, owning 68,164 shares valued at approximately $16.63 million at the end of the reporting period.
• The company declared a quarterly dividend of $0.90, an increase from the previous $0.82, representing an annualized yield of 1.8% and a payout ratio of 43.17%.
• Analysts have a consensus rating of "Hold" on Marsh & McLennan Companies' stock, with an average price target of $238.76, while several brokerages recently downgraded their price objectives.

Curi RMB Capital LLC cut its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 19.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,164 shares of the financial services provider's stock after selling 16,413 shares during the quarter. Curi RMB Capital LLC's holdings in Marsh & McLennan Companies were worth $16,634,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Parisi Gray Wealth Management purchased a new position in shares of Marsh & McLennan Companies in the first quarter worth approximately $947,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Marsh & McLennan Companies by 101.7% in 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 increased its position in shares of Marsh & McLennan Companies by 9.9% in 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 grew its stake in Marsh & McLennan Companies by 101.4% during the 1st quarter. Penserra Capital Management LLC now owns 7,136 shares of the financial services provider's stock valued at $1,741,000 after acquiring an additional 3,593 shares in the last quarter. Finally, US Asset Management LLC grew its stake in Marsh & McLennan Companies by 23.1% during the 1st quarter. US Asset Management LLC now owns 6,847 shares of the financial services provider's stock valued at $1,671,000 after acquiring an additional 1,284 shares in the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MMC has been the topic of several research analyst reports. Barclays lowered their target price on Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Wells Fargo & Company lowered their target price on Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. UBS Group lowered their target price on Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Morgan Stanley lowered their target price on Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. Finally, 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 target for the company. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $238.76.

Marsh & McLennan Companies Stock Performance

MMC traded down $0.41 on Monday, hitting $203.33. The company had a trading volume of 1,833,441 shares, compared to its average volume of 2,251,201. The company's fifty day moving average price is $208.13 and its 200 day moving average price is $221.32. Marsh & McLennan Companies, Inc. has a 1-year low of $196.27 and a 1-year high of $248.00. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $99.96 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 2.56 and a beta of 0.81.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share 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 firm had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period in the previous year, the company earned $2.41 EPS. The company's revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 24th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date was Thursday, July 24th. Marsh & McLennan Companies's dividend payout ratio is presently 43.17%.

Insider Activity at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 21,079 shares of the company's 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.

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.