Phoenix Financial Ltd. Lowers Stock Position in Marsh & McLennan Companies, Inc. $MMC

Key Points

• Phoenix Financial Ltd. reduced its stake in Marsh & McLennan Companies by 3.9% during the 2nd quarter, bringing their total holdings to 43,283 shares worth approximately $9.46 million.
• Several institutions, such as Brighton Jones LLC and Bison Wealth LLC, have increased their positions in Marsh & McLennan, indicating growing interest among investors; overall, institutional investors own 87.99% of the company.
• Marsh & McLennan Companies plans to pay a quarterly dividend of $0.90 per share on November 14th, with a projected annual dividend yield of 1.9%.

Phoenix Financial Ltd. lowered its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,283 shares of the financial services provider's stock after selling 1,746 shares during the quarter. Phoenix Financial Ltd.'s holdings in Marsh & McLennan Companies were worth $9,463,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MMC. Brighton Jones LLC raised its position in shares of Marsh & McLennan Companies by 51.2% in the 4th quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider's stock worth $1,856,000 after purchasing an additional 2,960 shares during the last quarter. Bison Wealth LLC raised its position in shares of Marsh & McLennan Companies by 39.6% in the 4th quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider's stock worth $651,000 after purchasing an additional 869 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Marsh & McLennan Companies by 32.0% in the 1st quarter. GAMMA Investing LLC now owns 6,211 shares of the financial services provider's stock worth $1,516,000 after purchasing an additional 1,507 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Marsh & McLennan Companies in the 1st quarter worth about $223,000. Finally, PFG Investments LLC raised its position in shares of Marsh & McLennan Companies by 15.5% in the 1st quarter. PFG Investments LLC now owns 2,358 shares of the financial services provider's stock worth $575,000 after purchasing an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MMC. JPMorgan Chase & Co. raised Marsh & McLennan Companies from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $248.00 to $242.00 in a research report on Thursday, October 9th. Wells Fargo & Company reduced their price objective on Marsh & McLennan Companies from $222.00 to $212.00 and set an "equal weight" rating for the company in a report on Friday. Citigroup began coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price objective for the company. Barclays reduced their price objective on Marsh & McLennan Companies from $233.00 to $221.00 and set an "equal weight" rating for the company in a report on Wednesday, October 8th. Finally, Wolfe Research began coverage on Marsh & McLennan Companies in a report on Tuesday, September 16th. They issued a "peer perform" rating for the company. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $233.67.

Marsh & McLennan Companies Trading Up 0.2%

Marsh & McLennan Companies stock opened at $189.98 on Tuesday. The business has a 50-day simple moving average of $202.68 and a two-hundred day simple moving average of $213.51. The company has a market cap of $93.40 billion, a P/E ratio of 22.78, a P/E/G ratio of 2.39 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a 52-week low of $185.12 and a 52-week high of $248.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.19.

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

Marsh & McLennan Companies Dividend Announcement

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

Insider Activity

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 87,681 shares in the company, valued at $18,031,597.65. The trade was a 19.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

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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