Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC reduced its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 26.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,367 shares of the financial services provider’s stock after selling 74,180 shares during the quarter. Verition Fund Management LLC’s holdings in Marsh & McLennan Companies were worth $45,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Carmichael Hill & Associates Inc. boosted its position in shares of Marsh & McLennan Companies by 85.7% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 130 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 60 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Marsh & McLennan Companies during the third quarter worth about $31,000. Crewe Advisors LLC increased its holdings in Marsh & McLennan Companies by 100.0% in the second quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock valued at $34,000 after buying an additional 80 shares in the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of Marsh & McLennan Companies by 712.5% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 195 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 171 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in shares of Marsh & McLennan Companies in the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Wall Street Analysts Forecast Growth

MMC has been the subject of several research reports. The Goldman Sachs Group set a $220.00 price objective on Marsh & McLennan Companies and gave the stock a “sell” rating in a report on Friday, October 18th. Bank of America boosted their price objective on shares of Marsh & McLennan Companies from $248.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group increased their price target on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada upped their target price on Marsh & McLennan Companies from $232.00 to $242.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Marsh & McLennan Companies currently has a consensus rating of “Hold” and an average price target of $227.60.

Insiders Place Their Bets

In related news, Director Oscar Fanjul sold 2,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total transaction of $553,875.00. Following the completion of the sale, the director now directly owns 48,549 shares of the company’s stock, valued at approximately $10,756,030.95. This trade represents a 4.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is owned by insiders.

Marsh & McLennan Companies Trading Up 0.2 %

Shares of MMC stock opened at $233.24 on Friday. Marsh & McLennan Companies, Inc. has a 1-year low of $184.28 and a 1-year high of $235.21. The firm’s 50-day simple moving average is $224.06 and its 200-day simple moving average is $219.50. The firm has a market cap of $114.55 billion, a P/E ratio of 28.72, a PEG ratio of 2.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the firm posted $1.57 EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 4th were issued a $0.815 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 annualized dividend and a yield of 1.40%. Marsh & McLennan Companies’s payout ratio is 40.15%.

Marsh & McLennan Companies Company 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 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.