JLB & Associates Inc. Sells 4,001 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• JLB & Associates Inc. reduced its stake in Marsh & McLennan Companies by 6.6%, selling 4,001 shares, and now holds 56,868 shares valued at approximately $12.4 million.
• CEO John Q. Doyle sold 21,079 shares for around $4.33 million, resulting in a 19.38% decrease in his ownership of the company's stock.
• Marsh & McLennan Companies announced a quarterly dividend of $0.90 per share, with a dividend yield of 1.8%, payable on November 14th.

JLB & Associates Inc. trimmed its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 6.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 56,868 shares of the financial services provider's stock after selling 4,001 shares during the quarter. Marsh & McLennan Companies comprises about 1.7% of JLB & Associates Inc.'s portfolio, making the stock its 24th biggest holding. JLB & Associates Inc.'s holdings in Marsh & McLennan Companies were worth $12,434,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Parisi Gray Wealth Management bought a new position in shares of Marsh & McLennan Companies in the 1st quarter valued at $947,000. Wealth Enhancement Advisory Services LLC raised its stake in Marsh & McLennan Companies by 101.7% during 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 boosted its stake in shares of Marsh & McLennan Companies by 9.9% in the 1st quarter. LPL Financial LLC now owns 324,035 shares of the financial services provider's stock valued at $78,662,000 after purchasing an additional 29,247 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of 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 purchasing an additional 3,593 shares during the last quarter. Finally, US Asset Management LLC boosted its position in Marsh & McLennan Companies by 23.1% in the first quarter. US Asset Management LLC now owns 6,847 shares of the financial services provider's stock valued at $1,671,000 after buying an additional 1,284 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company's stock.

Insider Activity at Marsh & McLennan Companies

In related 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 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 represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.35% of the company's stock.

Marsh & McLennan Companies Stock Performance

Shares of MMC opened at $199.99 on Tuesday. The stock has a 50 day moving average of $203.66 and a 200 day moving average of $217.40. The company has a market capitalization of $98.32 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.51 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a 12 month low of $195.01 and a 12 month high of $248.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.06. The firm 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 business's revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $2.41 EPS. As a group, sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current 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 given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MMC shares. UBS Group dropped their target price on Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating for the company in a research report on Monday, July 21st. Barclays cut their price target on shares of 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. Wells Fargo & Company cut 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 report on Friday, July 18th. Citigroup started coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price target on the stock. Finally, Wolfe Research began coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, September 16th. They set a "peer perform" rating for the company. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $238.76.

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.

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