State of Alaska Department of Revenue Cuts Stake in Marsh & McLennan Companies, Inc. $MMC

State of Alaska Department of Revenue trimmed its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,612 shares of the financial services provider’s stock after selling 2,848 shares during the quarter. State of Alaska Department of Revenue’s holdings in Marsh & McLennan Companies were worth $14,028,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MMC. Headlands Technologies LLC purchased a new position in shares of Marsh & McLennan Companies during the 2nd quarter worth approximately $29,000. Westside Investment Management Inc. raised its position in Marsh & McLennan Companies by 363.3% in the second quarter. Westside Investment Management Inc. now owns 139 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 109 shares in the last quarter. Delos Wealth Advisors LLC purchased a new stake in shares of Marsh & McLennan Companies during the 2nd quarter worth $32,000. TruNorth Capital Management LLC acquired a new position in shares of Marsh & McLennan Companies during the 3rd quarter worth $32,000. Finally, Access Investment Management LLC purchased a new position in shares of Marsh & McLennan Companies in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the transaction, the chief executive officer owned 87,681 shares of the company’s stock, valued at $15,977,231.82. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Evercore ISI lowered their target price on shares of Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday. Bank of America restated an “underperform” rating and issued a $181.00 price target (down previously from $243.00) on shares of Marsh & McLennan Companies in a report on Monday, November 3rd. Wells Fargo & Company reduced their price objective on Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating for the company in a report on Friday, October 17th. Citigroup lowered their target price on Marsh & McLennan Companies from $211.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, December 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Marsh & McLennan Companies in a research report on Friday, October 31st. Eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Marsh & McLennan Companies has an average rating of “Hold” and an average price target of $222.41.

Marsh & McLennan Companies Stock Performance

NYSE:MMC opened at $186.90 on Friday. Marsh & McLennan Companies, Inc. has a 1-year low of $174.18 and a 1-year high of $248.00. The firm has a 50 day simple moving average of $183.02 and a 200-day simple moving average of $196.70. The firm has a market cap of $91.56 billion, a PE ratio of 22.41, a P/E/G ratio of 2.87 and a beta of 0.76. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12.

Marsh & McLennan Companies (NYSE:MMC) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.78 by $0.07. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same period in the previous year, the company earned $1.63 EPS. Marsh & McLennan Companies’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Profile

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.