Illinois Municipal Retirement Fund lowered its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 29.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,733 shares of the financial services provider's stock after selling 13,505 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Marsh & McLennan Companies were worth $6,202,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Treasurer of the State of North Carolina increased its holdings in shares of Marsh & McLennan Companies by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 223,867 shares of the financial services provider's stock valued at $42,602,000 after purchasing an additional 830 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Marsh & McLennan Companies by 0.9% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,180,332 shares of the financial services provider's stock valued at $221,078,000 after purchasing an additional 10,161 shares during the last quarter. CENTRAL TRUST Co increased its holdings in shares of Marsh & McLennan Companies by 5.5% in the fourth quarter. CENTRAL TRUST Co now owns 1,448 shares of the financial services provider's stock valued at $274,000 after purchasing an additional 75 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at approximately $1,381,000. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in Marsh & McLennan Companies in the fourth quarter worth approximately $2,825,000. Institutional investors and hedge funds own 87.99% of the company's stock.
Marsh & McLennan Companies Stock Performance
Shares of Marsh & McLennan Companies stock traded down $0.76 on Wednesday, hitting $200.95. The stock had a trading volume of 1,614,133 shares, compared to its average volume of 1,736,817. The company's 50 day moving average price is $203.07 and its 200 day moving average price is $197.04. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The stock has a market cap of $99.01 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 3.38 and a beta of 0.90. Marsh & McLennan Companies, Inc. has a 52-week low of $171.47 and a 52-week high of $209.20.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $2.89 EPS for the quarter, beating the consensus estimate of $2.80 by $0.09. Marsh & McLennan Companies had a return on equity of 34.14% and a net margin of 16.84%. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the prior year, the business earned $2.53 EPS. The firm's revenue was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.64 EPS for the current year.
Marsh & McLennan Companies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 4th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Wednesday, April 3rd. Marsh & McLennan Companies's dividend payout ratio is currently 36.04%.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on MMC shares. Royal Bank of Canada increased their price objective on Marsh & McLennan Companies from $208.00 to $210.00 and gave the stock a "sector perform" rating in a research report on Friday, April 19th. Jefferies Financial Group raised their price target on Marsh & McLennan Companies from $197.00 to $208.00 and gave the stock a "hold" rating in a research report on Friday, April 19th. Piper Sandler lowered Marsh & McLennan Companies from an "overweight" rating to a "neutral" rating and set a $211.00 price target for the company. in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods raised their price target on Marsh & McLennan Companies from $185.00 to $188.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 10th. Finally, UBS Group raised their price target on Marsh & McLennan Companies from $236.00 to $238.00 and gave the stock a "buy" rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of "Hold" and a consensus price target of $207.69.
Read Our Latest Report on MMC
Insider Buying and Selling
In related news, VP Stacy Mills sold 1,461 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $209.16, for a total value of $305,582.76. Following the sale, the vice president now owns 2,923 shares in the company, valued at approximately $611,374.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Marsh & McLennan Companies news, VP Stacy Mills sold 1,461 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $209.16, for a total transaction of $305,582.76. Following the sale, the vice president now owns 2,923 shares in the company, valued at approximately $611,374.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark C. Mcgivney sold 12,494 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $200.79, for a total value of $2,508,670.26. Following the sale, the chief financial officer now owns 33,678 shares in the company, valued at approximately $6,762,205.62. The disclosure for this sale can be found here. Insiders have sold a total of 36,751 shares of company stock worth $7,448,163 in the last quarter. Company insiders own 0.35% of the company's stock.
About Marsh & McLennan Companies
(
Free Report)
Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.
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