New York State Teachers Retirement System Cuts Stock Holdings in Marsh & McLennan Companies, Inc. $MMC

Key Points

• The New York State Teachers Retirement System reduced its stake in Marsh & McLennan Companies by 0.8%, owning approximately 0.07% of the company, valued at $74,754,000 after selling 2,686 shares in the second quarter.
• CEO John Q. Doyle sold 21,079 shares for approximately $4.33 million, resulting in a 19.38% decrease in his ownership position.
• Marsh & McLennan's quarterly earnings exceeded expectations, reporting $2.72 earnings per share and a revenue of $6.97 billion, showing a 12.1% increase compared to the same quarter last year.

New York State Teachers Retirement System lowered its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 341,903 shares of the financial services provider's stock after selling 2,686 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Marsh & McLennan Companies worth $74,754,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Mutual Advisors LLC raised its stake in shares of Marsh & McLennan Companies by 3.3% in the 2nd quarter. Mutual Advisors LLC now owns 3,687 shares of the financial services provider's stock valued at $776,000 after acquiring an additional 118 shares during the period. Generali Asset Management SPA SGR raised its stake in shares of Marsh & McLennan Companies by 6.6% in the 2nd quarter. Generali Asset Management SPA SGR now owns 58,048 shares of the financial services provider's stock valued at $12,692,000 after acquiring an additional 3,583 shares during the period. Twin Tree Management LP purchased a new position in shares of Marsh & McLennan Companies in the 2nd quarter valued at $1,090,000. Ritholtz Wealth Management raised its stake in shares of Marsh & McLennan Companies by 3.2% in the 2nd quarter. Ritholtz Wealth Management now owns 10,634 shares of the financial services provider's stock valued at $2,325,000 after acquiring an additional 329 shares during the period. Finally, Private Wealth Asset Management LLC raised its stake in shares of Marsh & McLennan Companies by 4.3% in the 2nd quarter. Private Wealth Asset Management LLC now owns 1,668 shares of the financial services provider's stock valued at $365,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 87.99% of the company's stock.

Insiders Place Their Bets

In other Marsh & McLennan Companies 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 completion of the transaction, the chief executive officer directly owned 87,681 shares of the company's stock, valued at $18,031,597.65. This trade represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Marsh & McLennan Companies Price Performance

Shares of MMC stock opened at $204.05 on Thursday. The firm has a market cap of $100.31 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.61 and a beta of 0.81. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.20 and a quick 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 firm has a fifty day moving average of $203.55 and a two-hundred day moving average of $214.98.

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, topping the consensus estimate of $2.66 by $0.06. The company had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.92 billion. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $2.41 EPS. As a group, research analysts anticipate 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. Shareholders 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 yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 2nd. Marsh & McLennan Companies's dividend payout ratio (DPR) is currently 43.17%.

Analysts Set New Price Targets

MMC has been the topic of a number of research reports. Morgan Stanley cut their target price 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. Barclays dropped their price target 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. Wells Fargo & Company dropped 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. UBS Group dropped 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. Finally, Wolfe Research started 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. According to data from MarketBeat.com, Marsh & McLennan Companies has a consensus 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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