Sawgrass Asset Management LLC Cuts Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Sawgrass Asset Management LLC cut its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 4.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,165 shares of the financial services provider's stock after selling 1,747 shares during the period. Marsh & McLennan Companies accounts for 1.2% of Sawgrass Asset Management LLC's holdings, making the stock its 27th biggest holding. Sawgrass Asset Management LLC's holdings in Marsh & McLennan Companies were worth $9,801,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Marsh & McLennan Companies in the 4th quarter worth $1,236,186,000. Stifel Financial Corp grew its stake in Marsh & McLennan Companies by 551.0% in the fourth quarter. Stifel Financial Corp now owns 2,224,932 shares of the financial services provider's stock valued at $472,599,000 after purchasing an additional 1,883,146 shares during the last quarter. Amundi lifted its position in shares of Marsh & McLennan Companies by 81.1% during the fourth quarter. Amundi now owns 4,072,976 shares of the financial services provider's stock valued at $860,824,000 after buying an additional 1,823,807 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Marsh & McLennan Companies by 32,120.9% in the 1st quarter. GAMMA Investing LLC now owns 1,515,670 shares of the financial services provider's stock worth $369,869,000 after buying an additional 1,510,966 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Marsh & McLennan Companies during the 4th quarter worth approximately $207,278,000. Institutional investors own 87.99% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Marsh & McLennan Companies from $223.00 to $232.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. Jefferies Financial Group upped their target price on Marsh & McLennan Companies from $237.00 to $244.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods lowered their price target on Marsh & McLennan Companies from $220.00 to $215.00 and set an "underperform" rating for the company in a report on Monday, April 21st. Barclays upped their price objective on shares of Marsh & McLennan Companies from $246.00 to $249.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. Finally, UBS Group lifted their target price on shares of Marsh & McLennan Companies from $259.00 to $261.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $241.93.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO Dean Michael Klisura sold 9,569 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $245.00, for a total value of $2,344,405.00. Following the transaction, the chief executive officer now owns 20,935 shares in the company, valued at approximately $5,129,075. This trade represents a 31.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Paul Beswick sold 2,237 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $246.00, for a total transaction of $550,302.00. Following the sale, the senior vice president now directly owns 13,522 shares of the company's stock, valued at $3,326,412. The trade was a 14.20% decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Marsh & McLennan Companies Stock Up 1.0%

NYSE:MMC opened at $216.41 on Monday. Marsh & McLennan Companies, Inc. has a 1-year low of $207.21 and a 1-year high of $248.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $106.63 billion, a P/E ratio of 26.52, a PEG ratio of 2.65 and a beta of 0.83. The company's fifty day moving average price is $225.13 and its 200-day moving average price is $224.75.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.04. Marsh & McLennan Companies had a net margin of 16.13% and a return on equity of 32.19%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.08 billion. During the same period in the prior year, the company posted $2.89 EPS. As a group, equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

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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