Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Crescent Grove Advisors LLC

Posted by Defense World Staff on Mar 22nd, 2023

Crescent Grove Advisors LLC reduced its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC – Get Rating) by 21.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,246 shares of the financial services provider’s stock after selling 341 shares during the period. Crescent Grove Advisors LLC’s holdings in Marsh & McLennan Companies were worth $206,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Markel Corp lifted its holdings in Marsh & McLennan Companies by 1.5% in the first quarter. Markel Corp now owns 618,800 shares of the financial services provider’s stock worth $105,456,000 after acquiring an additional 9,300 shares during the last quarter. United Bank boosted its position in Marsh & McLennan Companies by 1.9% during the 1st quarter. United Bank now owns 7,580 shares of the financial services provider’s stock valued at $1,292,000 after purchasing an additional 144 shares during the period. Blair William & Co. IL grew its stake in Marsh & McLennan Companies by 1.9% during the 1st quarter. Blair William & Co. IL now owns 37,526 shares of the financial services provider’s stock worth $6,395,000 after buying an additional 695 shares during the last quarter. Cetera Investment Advisers increased its position in Marsh & McLennan Companies by 43.9% in the first quarter. Cetera Investment Advisers now owns 4,188 shares of the financial services provider’s stock worth $714,000 after buying an additional 1,277 shares during the period. Finally, Moors & Cabot Inc. lifted its stake in Marsh & McLennan Companies by 8.5% in the first quarter. Moors & Cabot Inc. now owns 3,066 shares of the financial services provider’s stock valued at $523,000 after buying an additional 241 shares during the last quarter. Institutional investors and hedge funds own 87.30% of the company’s stock.

Marsh & McLennan Companies Stock Up 1.4 %

NYSE MMC opened at $160.42 on Wednesday. Marsh & McLennan Companies, Inc. has a 12 month low of $143.33 and a 12 month high of $183.14. The company has a market capitalization of $79.34 billion, a P/E ratio of 26.65, a PEG ratio of 2.46 and a beta of 0.93. The company’s 50 day simple moving average is $167.17 and its 200 day simple moving average is $164.18. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.16 and a quick ratio of 1.16.

Marsh & McLennan Companies (NYSE:MMC – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.07. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Marsh & McLennan Companies had a return on equity of 32.45% and a net margin of 14.72%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share. Equities research analysts expect that Marsh & McLennan Companies, Inc. will post 7.49 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Wednesday, April 5th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 4th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.47%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 39.20%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MMC shares. MKM Partners increased their price objective on shares of Marsh & McLennan Companies from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, January 30th. Credit Suisse Group boosted their price objective on Marsh & McLennan Companies from $157.00 to $172.00 and gave the stock a “neutral” rating in a research report on Monday, January 30th. StockNews.com initiated coverage on Marsh & McLennan Companies in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Morgan Stanley increased their price target on Marsh & McLennan Companies from $145.00 to $150.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 22nd. Finally, Raymond James upped their price objective on shares of Marsh & McLennan Companies from $180.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, January 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $178.62.

Insider Buying and Selling

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,900 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $173.70, for a total value of $503,730.00. Following the completion of the transaction, the director now directly owns 75,447 shares in the company, valued at $13,105,143.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Oscar Fanjul sold 2,900 shares of the stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $173.70, for a total value of $503,730.00. Following the completion of the sale, the director now owns 75,447 shares in the company, valued at $13,105,143.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dean Michael Klisura sold 3,140 shares of Marsh & McLennan Companies stock in a transaction on Monday, March 6th. The shares were sold at an average price of $165.22, for a total value of $518,790.80. Following the transaction, the chief executive officer now owns 20,935 shares in the company, valued at approximately $3,458,880.70. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Profile

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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.