Marsh & McLennan Companies, Inc. $MMC Shares Sold by State Street Corp

State Street Corp trimmed its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 21,441,578 shares of the financial services provider’s stock after selling 48,901 shares during the period. State Street Corp owned 4.36% of Marsh & McLennan Companies worth $4,687,987,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. London & Capital Asset Management Ltd raised its stake in Marsh & McLennan Companies by 390.6% during the 2nd quarter. London & Capital Asset Management Ltd now owns 148,069 shares of the financial services provider’s stock valued at $32,375,000 after acquiring an additional 117,886 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Marsh & McLennan Companies by 5.6% in the second quarter. Daiwa Securities Group Inc. now owns 74,523 shares of the financial services provider’s stock valued at $16,294,000 after purchasing an additional 3,951 shares during the period. SVB Wealth LLC acquired a new stake in shares of Marsh & McLennan Companies during the second quarter worth $6,853,000. L2 Asset Management LLC grew its position in Marsh & McLennan Companies by 6.2% in the 2nd quarter. L2 Asset Management LLC now owns 2,207 shares of the financial services provider’s stock valued at $483,000 after buying an additional 128 shares during the last quarter. Finally, Temasek Holdings Private Ltd purchased a new position in Marsh & McLennan Companies during the 2nd quarter worth $31,343,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group raised shares of Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and cut their price target for the stock from $200.00 to $195.00 in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Marsh & McLennan Companies in a report on Friday, October 31st. Keefe, Bruyette & Woods raised Marsh & McLennan Companies from an “underperform” rating to a “market perform” rating and dropped their price objective for the stock from $209.00 to $191.00 in a report on Friday, October 17th. Morgan Stanley reduced their target price on Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Evercore ISI lowered their price target on shares of Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $223.00.

Insider Activity at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the completion of the sale, the chief executive officer owned 87,681 shares in the company, valued at approximately $15,977,231.82. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by insiders.

Marsh & McLennan Companies Price Performance

Marsh & McLennan Companies stock opened at $181.38 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.19. The firm’s 50-day simple moving average is $187.54 and its 200 day simple moving average is $202.64. Marsh & McLennan Companies, Inc. has a 52 week low of $174.18 and a 52 week high of $248.00. The firm has a market capitalization of $88.86 billion, a PE ratio of 21.75, a P/E/G ratio of 3.12 and a beta of 0.75.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter in the prior year, the firm earned $1.63 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, October 2nd were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Thursday, October 2nd. Marsh & McLennan Companies’s dividend payout ratio is 43.17%.

Marsh & McLennan Companies 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.