Kestra Investment Management LLC Lowers Stake in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Kestra Investment Management LLC drastically reduced its holdings in Marsh & McLennan Companies, Inc. by 85.1% during Q1, now owning only 310 shares, valued at $76,000.
• CEO John Q. Doyle sold 21,079 shares at an average price of $205.65, leading to a 19.38% decrease in his total ownership.
• Marsh & McLennan recently increased its quarterly dividend to $0.90, representing a yield of 1.8% and reflecting a positive change from the previous dividend of $0.82.

Kestra Investment Management LLC decreased its position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 85.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 310 shares of the financial services provider's stock after selling 1,772 shares during the period. Kestra Investment Management LLC's holdings in Marsh & McLennan Companies were worth $76,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parisi Gray Wealth Management purchased a new stake in Marsh & McLennan Companies in the 1st quarter valued at about $947,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Marsh & McLennan Companies by 101.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 103,551 shares of the financial services provider's stock valued at $25,270,000 after acquiring an additional 52,218 shares during the period. LPL Financial LLC grew its position in shares of Marsh & McLennan Companies by 9.9% during the 1st quarter. LPL Financial LLC now owns 324,035 shares of the financial services provider's stock valued at $78,662,000 after acquiring an additional 29,247 shares during the period. Penserra Capital Management LLC grew its position 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 acquiring an additional 3,593 shares during the period. Finally, US Asset Management LLC grew its position in shares of 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 during the period. Hedge funds and other institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Price Performance

NYSE MMC traded down $0.49 on Friday, hitting $202.97. The stock had a trading volume of 2,652,548 shares, compared to its average volume of 1,856,531. Marsh & McLennan Companies, Inc. has a 52-week low of $196.27 and a 52-week high of $248.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $99.78 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 2.56 and a beta of 0.81. The firm has a 50-day moving average of $206.85 and a 200-day moving average of $220.43.

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 (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 in the prior year, the company posted $2.41 EPS. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 24th were paid a $0.90 dividend. The ex-dividend date was Thursday, July 24th. This represents a $3.60 annualized dividend and a yield of 1.8%. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. Marsh & McLennan Companies's dividend payout ratio is currently 43.17%.

Wall Street Analysts Forecast Growth

MMC has been the subject of a number of research reports. Cantor Fitzgerald initiated coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set an "overweight" rating and a $256.00 target price for the company. Morgan Stanley reduced their target price on shares of Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. UBS Group cut their price objective on shares of Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating for the company in a report on Monday, July 21st. Citigroup assumed 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. Finally, Keefe, Bruyette & Woods cut 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. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $238.76.

Insider Transactions at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 21,079 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by corporate 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.