Marsh & McLennan Companies, Inc. $MMC Position Trimmed by Teza Capital Management LLC

Key Points

• Teza Capital Management LLC significantly reduced its stake in Marsh & McLennan Companies, selling 5,421 shares to hold 897 shares valued at $219,000.
• CEO John Q. Doyle sold 21,079 shares of the company, reflecting a 19.38% decrease in his position, now owning shares valued at approximately $18 million.
• Marsh & McLennan recently raised its quarterly dividend to $0.90 per share, resulting in an annualized yield of 1.8%, up from the previous dividend of $0.82.

Teza Capital Management LLC trimmed its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 85.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 897 shares of the financial services provider's stock after selling 5,421 shares during the period. Teza Capital Management LLC's holdings in Marsh & McLennan Companies were worth $219,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. UniSuper Management Pty Ltd raised its position in shares of Marsh & McLennan Companies by 3.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 32,891 shares of the financial services provider's stock valued at $8,026,000 after buying an additional 1,091 shares in the last quarter. Plancorp LLC purchased a new position in Marsh & McLennan Companies during the first quarter valued at approximately $234,000. Nissay Asset Management Corp Japan ADV increased its holdings in Marsh & McLennan Companies by 1.1% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 61,723 shares of the financial services provider's stock valued at $15,062,000 after buying an additional 674 shares during the period. National Wealth Management Group LLC acquired a new stake in Marsh & McLennan Companies in the first quarter valued at approximately $558,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Marsh & McLennan Companies by 13.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,851 shares of the financial services provider's stock valued at $20,217,000 after acquiring an additional 9,882 shares in the last quarter. Institutional investors own 87.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MMC shares. Keefe, Bruyette & Woods decreased their target price on shares of 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. UBS Group dropped their price objective on shares of Marsh & McLennan Companies from $261.00 to $258.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Morgan Stanley dropped their price objective on shares of Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Cantor Fitzgerald initiated coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $238.76.

Insider Activity

In related news, CEO John Q. Doyle sold 21,079 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total value of $4,334,896.35. Following the sale, the chief executive officer directly owned 87,681 shares of the company's stock, valued at approximately $18,031,597.65. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.35% of the company's stock.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock traded down $0.49 during mid-day trading on Friday, hitting $202.97. The stock had a trading volume of 2,652,548 shares, compared to its average volume of 1,856,531. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.27 and a fifty-two week high of $248.00. The firm has a market cap of $99.78 billion, a PE ratio of 24.34, a PEG ratio of 2.56 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. The company's 50-day simple moving average is $206.85 and its 200-day simple moving average is $220.43.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.66 by $0.06. Marsh & McLennan Companies had a net margin of 16.00% and a return on equity of 31.90%. The business had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter last year, the firm posted $2.41 EPS. The business's revenue was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 24th were given a $0.90 dividend. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. This represents a $3.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, July 24th. Marsh & McLennan Companies's dividend payout ratio is 43.17%.

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.