Exchange Traded Concepts LLC Lowers Holdings in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Exchange Traded Concepts LLC decreased its holdings in Marsh & McLennan Companies, Inc. by 32.6% in the second quarter, ending with 15,341 shares valued at $3.35 million.
• Notable institutional investors such as Wellington Management and GAMMA Investing significantly increased their stakes, with Wellington's position growing by 54.2% in the first quarter.
• Marsh & McLennan recently announced a quarterly dividend of $0.90 per share, reflecting an annualized dividend of $3.60 and a yield of 1.8%.

Exchange Traded Concepts LLC decreased its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 32.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,341 shares of the financial services provider's stock after selling 7,425 shares during the quarter. Exchange Traded Concepts LLC's holdings in Marsh & McLennan Companies were worth $3,354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Marsh & McLennan Companies by 54.2% in the 1st quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider's stock valued at $3,127,193,000 after purchasing an additional 4,505,548 shares in the last quarter. Nuveen LLC acquired a new position in shares of Marsh & McLennan Companies in the 1st quarter valued at about $1,038,594,000. GAMMA Investing LLC lifted its stake in shares of Marsh & McLennan Companies by 32,120.9% in the 1st quarter. GAMMA Investing LLC now owns 1,515,670 shares of the financial services provider's stock valued at $369,869,000 after purchasing an additional 1,510,966 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of Marsh & McLennan Companies by 153.6% in the 1st quarter. Ninety One UK Ltd now owns 2,370,678 shares of the financial services provider's stock valued at $578,517,000 after purchasing an additional 1,436,044 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in 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 acquiring an additional 581,930 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

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 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 sale, the chief executive officer directly owned 87,681 shares of the company's stock, valued at $18,031,597.65. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays reduced their price target on Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Morgan Stanley cut 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 report on Monday, August 18th. Citigroup started coverage on Marsh & McLennan Companies in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 target price on the stock. Keefe, Bruyette & Woods cut their target price on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating on the stock in a research report on Monday, July 21st. Finally, UBS Group lowered their price target on Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating for the company in a report on Monday, July 21st. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $238.76.

Marsh & McLennan Companies Trading Up 0.3%

Shares of Marsh & McLennan Companies stock opened at $196.82 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.19. The firm has a market cap of $96.76 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 2.47 and a beta of 0.81. The business has a fifty day simple moving average of $205.22 and a 200-day simple moving average of $218.95. Marsh & McLennan Companies, Inc. has a fifty-two week low of $195.01 and a fifty-two week high of $248.00.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 earnings per share for the quarter, beating the consensus estimate 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%.The company's revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.41 earnings per share. On average, equities analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 2nd. Marsh & McLennan Companies's dividend payout ratio is currently 43.17%.

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.

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