Envestnet Portfolio Solutions Inc. Cuts Position in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Marsh & McLennan Companies, Inc. by 11.3% in the second quarter, bringing its holdings to 21,725 shares worth approximately $4.75 million.
• Marsh & McLennan reported a quarterly earnings per share of $2.72, exceeding analyst expectations, with a revenue of $6.97 billion, marking a 12.1% year-over-year increase.
• The company announced a quarterly dividend of $0.90 per share, representing a 1.8% yield, with an ex-dividend date set for October 2nd.

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 11.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,725 shares of the financial services provider's stock after selling 2,757 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Marsh & McLennan Companies were worth $4,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Accent Capital Management LLC acquired a new stake in shares of Marsh & McLennan Companies during the 1st quarter worth about $25,000. Knuff & Co LLC acquired a new stake in shares of Marsh & McLennan Companies in the first quarter worth approximately $28,000. Activest Wealth Management lifted its position in Marsh & McLennan Companies by 2,775.0% during the first quarter. Activest Wealth Management now owns 115 shares of the financial services provider's stock valued at $28,000 after buying an additional 111 shares in the last quarter. Capital Analysts LLC lifted its position in Marsh & McLennan Companies by 61.0% during the first quarter. Capital Analysts LLC now owns 169 shares of the financial services provider's stock valued at $41,000 after buying an additional 64 shares in the last quarter. Finally, Garde Capital Inc. acquired a new position in Marsh & McLennan Companies during the first quarter valued at approximately $42,000. 87.99% of the stock is owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Performance

MMC stock opened at $204.05 on Thursday. The company has a market capitalization of $100.31 billion, a P/E ratio of 24.47, a PEG ratio of 2.61 and a beta of 0.81. The company has a 50-day simple moving average of $203.55 and a 200 day simple moving average of $214.98. Marsh & McLennan Companies, Inc. has a fifty-two week low of $195.01 and a fifty-two week high of $248.00. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.92 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The company'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 earnings per share. Sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The business also recently disclosed 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 of this dividend is Thursday, October 2nd. This represents a $3.60 annualized dividend and a yield of 1.8%. Marsh & McLennan Companies's dividend payout ratio is presently 43.17%.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 87,681 shares in the company, valued at approximately $18,031,597.65. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.35% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of Marsh & McLennan Companies from $233.00 to $221.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price objective on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a report on Monday, July 21st. Citigroup started coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price objective for the company. JPMorgan Chase & Co. raised shares of Marsh & McLennan Companies from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $248.00 to $242.00 in a report on Thursday, October 9th. Finally, Morgan Stanley reduced their price target on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an "equal weight" rating for the company in a report on Tuesday, October 7th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Marsh & McLennan Companies currently has an average rating of "Hold" and a consensus price target of $237.13.

Marsh & McLennan Companies Company 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.

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