Nordea Investment Management AB Sells 120,623 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• Nordea Investment Management AB reduced its holdings in Marsh & McLennan Companies by 15.5%, selling 120,623 shares, and now owns approximately 0.13% of the company valued at $142.83 million.
• CEO John Q. Doyle sold 21,079 shares at around $205.65 each, resulting in a significant decrease of 19.38% in his ownership.
• Marsh & McLennan Companies reported earnings of $1.85 per share for the quarter, surpassing analysts' expectations, and the company declared a quarterly dividend of $0.90 scheduled for payment on November 14th.

Nordea Investment Management AB trimmed its position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 15.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 658,140 shares of the financial services provider's stock after selling 120,623 shares during the period. Nordea Investment Management AB owned approximately 0.13% of Marsh & McLennan Companies worth $142,830,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in Marsh & McLennan Companies by 101.7% in 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 buying an additional 52,218 shares in the last quarter. LPL Financial LLC increased its position in 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 buying an additional 29,247 shares in the last quarter. Penserra Capital Management LLC increased its position in Marsh & McLennan Companies by 101.4% in 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 buying an additional 3,593 shares in the last quarter. US Asset Management LLC increased its position in Marsh & McLennan Companies by 23.1% in 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 buying an additional 1,284 shares in the last quarter. Finally, Geneva Partners LLC bought a new stake in Marsh & McLennan Companies in the 1st quarter valued at about $4,673,000. 87.99% of the stock is owned by institutional investors.

Insider Buying and Selling

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. Insiders own 0.35% of the company's stock.

Marsh & McLennan Companies Price Performance

Shares of NYSE MMC opened at $189.85 on Friday. Marsh & McLennan Companies, Inc. has a twelve month low of $185.12 and a twelve month high of $248.00. The stock's 50 day moving average price is $202.94 and its 200-day moving average price is $214.21. The company has a market capitalization of $93.34 billion, a PE ratio of 22.76, a PEG ratio of 2.35 and a beta of 0.81. The company has a quick ratio of 1.20, a current ratio of 1.12 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.07. Marsh & McLennan Companies had a return on equity of 31.79% and a net margin of 15.60%.The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter in the previous year, the business earned $1.63 EPS. The company's revenue was up 11.5% compared to the same quarter last year. On average, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 2nd will be paid a $0.90 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $3.60 annualized dividend and a yield of 1.9%. Marsh & McLennan Companies's dividend payout ratio is presently 43.17%.

Wall Street Analyst Weigh In

MMC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upgraded Marsh & McLennan Companies from an "underperform" rating to a "market perform" rating and cut their price target for the company from $209.00 to $191.00 in a research note on Friday. Cantor Fitzgerald initiated coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set an "overweight" rating and a $256.00 price target for the company. Citigroup initiated coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They set a "neutral" rating and a $226.00 price target for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Marsh & McLennan Companies in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price target on Marsh & McLennan Companies from $222.00 to $212.00 and set an "equal weight" rating for the company in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $236.43.

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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