Wealth Enhancement Advisory Services LLC lowered its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC – Free Report) by 92.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,118 shares of the financial services provider’s stock after selling 37,295 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Marsh & McLennan Companies were worth $519,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of MMC. Moneta Group Investment Advisors LLC boosted its holdings in Marsh & McLennan Companies by 105,777.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,772,516 shares of the financial services provider’s stock valued at $1,617,156,000 after purchasing an additional 9,763,286 shares during the period. Norges Bank bought a new stake in shares of Marsh & McLennan Companies during the 4th quarter worth approximately $659,049,000. Morgan Stanley lifted its holdings in shares of Marsh & McLennan Companies by 49.2% during the 4th quarter. Morgan Stanley now owns 6,293,827 shares of the financial services provider’s stock worth $1,041,503,000 after acquiring an additional 2,075,928 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Marsh & McLennan Companies by 145.9% during the 4th quarter. Clearbridge Investments LLC now owns 3,262,150 shares of the financial services provider’s stock worth $539,821,000 after acquiring an additional 1,935,638 shares during the period. Finally, Capital Research Global Investors lifted its holdings in shares of Marsh & McLennan Companies by 331.5% during the 1st quarter. Capital Research Global Investors now owns 1,830,548 shares of the financial services provider’s stock worth $311,962,000 after acquiring an additional 1,406,293 shares during the period. Institutional investors own 86.33% of the company’s stock.
Insider Buying and Selling
In related news, Director Oscar Fanjul sold 5,500 shares of the stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $179.38, for a total transaction of $986,590.00. Following the transaction, the director now directly owns 70,116 shares of the company’s stock, valued at $12,577,408.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 5,500 shares of the firm’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $179.38, for a total value of $986,590.00. Following the transaction, the director now directly owns 70,116 shares of the company’s stock, valued at $12,577,408.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark C. Mcgivney sold 70,106 shares of the firm’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $185.53, for a total transaction of $13,006,766.18. Following the completion of the transaction, the chief financial officer now directly owns 33,678 shares in the company, valued at $6,248,279.34. The disclosure for this sale can be found here. Insiders have sold a total of 81,106 shares of company stock valued at $14,981,816 over the last ninety days. 0.30% of the stock is owned by corporate insiders.
Marsh & McLennan Companies Trading Down 0.1 %
Marsh & McLennan Companies (NYSE:MMC – Get Free Report) last issued its earnings results on Thursday, April 20th. The financial services provider reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.06. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.86 billion. Marsh & McLennan Companies had a net margin of 15.24% and a return on equity of 33.33%. Marsh & McLennan Companies’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.30 earnings per share. On average, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 7.62 EPS for the current year.
Marsh & McLennan Companies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Thursday, July 27th will be paid a dividend of $0.71 per share. The ex-dividend date is Wednesday, July 26th. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.59. This represents a $2.84 annualized dividend and a yield of 1.52%. Marsh & McLennan Companies’s dividend payout ratio is currently 36.93%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Raymond James upped their price target on shares of Marsh & McLennan Companies from $185.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, April 21st. Roth Capital reaffirmed a “neutral” rating on shares of Marsh & McLennan Companies in a report on Monday, April 24th. Jefferies Financial Group dropped their price objective on shares of Marsh & McLennan Companies from $184.00 to $180.00 in a research note on Monday, April 10th. JPMorgan Chase & Co. increased their price objective on shares of Marsh & McLennan Companies from $182.00 to $197.00 in a research note on Thursday, July 6th. Finally, Wells Fargo & Company increased their price objective on shares of Marsh & McLennan Companies from $197.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 21st. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $189.33.
Marsh & McLennan Companies Profile
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 in two segments, Risk and Insurance Services, and Consulting. 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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