Cwm LLC cut its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 13.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,665 shares of the financial services provider's stock after selling 3,484 shares during the quarter. Cwm LLC's holdings in Marsh & McLennan Companies were worth $4,956,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 581,930 shares during the period. Wellington Management Group LLP grew its stake in shares of 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 purchasing an additional 4,505,548 shares during the period. 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 position in shares of Marsh & McLennan Companies during the 1st quarter worth $1,038,594,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Marsh & McLennan Companies by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,858,136 shares of the financial services provider's stock valued at $697,471,000 after acquiring an additional 65,778 shares during the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related 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 value of $4,334,896.35. Following the transaction, the chief executive officer owned 87,681 shares in the company, valued at approximately $18,031,597.65. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company's stock.
Marsh & McLennan Companies Price Performance
MMC opened at $204.05 on Thursday. The company's 50 day simple moving average is $203.55 and its 200 day simple moving average is $214.98. 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, Inc. has a 1 year low of $195.01 and a 1 year high of $248.00. The stock has a market capitalization of $100.31 billion, a PE ratio of 24.47, a P/E/G ratio of 2.61 and a beta of 0.81.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $6.97 billion for the quarter, compared to analysts' expectations of $6.92 billion. During the same period last year, the company earned $2.41 earnings per share. The company's quarterly revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.
Marsh & McLennan Companies Announces Dividend
The firm also recently declared 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 1.8%. Marsh & McLennan Companies's dividend payout ratio (DPR) is presently 43.17%.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. Cantor Fitzgerald initiated coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 price objective on the stock. Morgan Stanley decreased their price target 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, October 7th. UBS Group decreased their price target 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, October 8th. Wells Fargo & Company decreased their price target on shares of Marsh & McLennan Companies from $226.00 to $222.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 8th. Finally, Wolfe Research initiated coverage on shares of Marsh & McLennan Companies in a research note on Tuesday, September 16th. They set a "peer perform" rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $237.13.
View Our Latest Stock Analysis on MMC
About Marsh & McLennan Companies
(
Free Report)
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.
Further Reading
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