Pensionfund Sabic Cuts Holdings in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Pensionfund Sabic has reduced its holdings in Marsh & McLennan Companies by 15.0%, selling 1,500 shares and now owning a total of 8,500 shares valued at approximately $2,074,000.
• Several analysts have adjusted their price targets for Marsh & McLennan, resulting in a consensus price target of $238.76 and mixed ratings with six Buy, nine Hold, and two Sell ratings.
• The company recently increased its quarterly dividend from $0.82 to $0.90 per share, reflecting a positive change in its dividend policy and a yield of 1.8%.

Pensionfund Sabic lowered its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 15.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,500 shares of the financial services provider's stock after selling 1,500 shares during the quarter. Pensionfund Sabic's holdings in Marsh & McLennan Companies were worth $2,074,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MMC. Accent Capital Management LLC purchased a new position in shares of Marsh & McLennan Companies in the 1st quarter valued at about $25,000. Knuff & Co LLC purchased a new position in shares of Marsh & McLennan Companies in the 1st quarter valued at about $28,000. Activest Wealth Management increased its holdings in shares of Marsh & McLennan Companies by 2,775.0% in the 1st quarter. Activest Wealth Management now owns 115 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter valued at about $37,000. Finally, City Holding Co. acquired a new stake in shares of Marsh & McLennan Companies in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 87.99% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MMC shares. Cantor Fitzgerald started coverage on Marsh & McLennan Companies in a research report on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 target price for the company. UBS Group decreased 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. Wells Fargo & Company decreased their target price on Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Keefe, Bruyette & Woods decreased their target price on Marsh & McLennan Companies from $214.00 to $210.00 and set an "underperform" rating for the company in a research report on Monday, July 21st. Finally, Barclays decreased their target price on Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. 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 company presently has an average rating of "Hold" and a consensus price target of $238.76.

Insider Activity

In other news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 87,681 shares of the company's stock, valued at approximately $18,031,597.65. This represents a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.35% of the company's stock.

Marsh & McLennan Companies Stock Down 0.2%

Marsh & McLennan Companies stock opened at $202.97 on Friday. Marsh & McLennan Companies, Inc. has a twelve month low of $196.27 and a twelve month high of $248.00. The stock has a 50 day moving average of $206.85 and a two-hundred day moving average of $220.43. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $99.78 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 2.56 and a beta of 0.81.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.06. The company had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.92 billion. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%.The firm's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $2.41 EPS. As a group, research analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 24th were paid a dividend of $0.90 per share. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Thursday, July 24th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.8%. Marsh & McLennan Companies's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.