Wafra Inc. Lowers Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Wafra Inc. trimmed its stake in Marsh & McLennan Companies, Inc. (NYSE:MMCFree Report) by 53.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,722 shares of the financial services provider’s stock after selling 133,051 shares during the period. Marsh & McLennan Companies accounts for 1.3% of Wafra Inc.’s portfolio, making the stock its 25th largest position. Wafra Inc.’s holdings in Marsh & McLennan Companies were worth $21,926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MMC. Treasurer of the State of North Carolina lifted its position in shares of Marsh & McLennan Companies by 0.4% during 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 buying an additional 830 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Marsh & McLennan Companies by 0.9% during 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 acquiring an additional 10,161 shares during the last quarter. CENTRAL TRUST Co grew its holdings in 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 worth $274,000 after purchasing an additional 75 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Marsh & McLennan Companies during the fourth quarter worth $1,381,000. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at $2,825,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MMC has been the topic of several recent analyst reports. TD Cowen upped their target price on Marsh & McLennan Companies from $189.00 to $201.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on shares of Marsh & McLennan Companies from $190.00 to $198.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods upped their price target on shares of Marsh & McLennan Companies from $185.00 to $188.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Piper Sandler downgraded shares of Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 price objective for the company. in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada raised their target price on Marsh & McLennan Companies from $208.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and an average target price of $208.73.

Check Out Our Latest Stock Report on MMC

Marsh & McLennan Companies Stock Performance

Shares of NYSE:MMC traded up $0.83 during trading on Friday, hitting $209.97. 1,119,913 shares of the stock traded hands, compared to its average volume of 1,488,507. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.97. The company has a fifty day moving average price of $203.26 and a two-hundred day moving average price of $198.58. Marsh & McLennan Companies, Inc. has a 52-week low of $171.47 and a 52-week high of $210.13. The company has a market cap of $103.46 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 3.48 and a beta of 0.90.

Marsh & McLennan Companies (NYSE:MMCGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.09. Marsh & McLennan Companies had a net margin of 16.84% and a return on equity of 34.14%. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter in the previous year, the company earned $2.53 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 8.71 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Thursday, April 4th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Wednesday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 36.04%.

Insider Transactions at Marsh & McLennan Companies

In related news, CFO Mark C. Mcgivney sold 12,494 shares of the business’s 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 completion of the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at approximately $6,762,205.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Stacy Mills sold 1,461 shares of the business’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 transaction of $305,582.76. Following the completion of the sale, the vice president now directly owns 2,923 shares in the company, valued at $611,374.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark C. Mcgivney sold 12,494 shares of the firm’s 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 completion of the transaction, 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 sold a total of 36,751 shares of company stock valued at $7,448,163 in the last three months. 0.30% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Company Profile

(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.

See Also

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Institutional Ownership by Quarter for Marsh & McLennan Companies (NYSE:MMC)

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