FORA Capital LLC Sells 8,489 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

FORA Capital LLC lessened its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 24.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 26,934 shares of the financial services provider’s stock after selling 8,489 shares during the period. FORA Capital LLC’s holdings in Marsh & McLennan Companies were worth $6,009,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in Marsh & McLennan Companies by 4,991.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider’s stock valued at $146,047,000 after purchasing an additional 679,474 shares in the last quarter. FMR LLC increased its position in shares of Marsh & McLennan Companies by 2.5% during the third quarter. FMR LLC now owns 21,445,110 shares of the financial services provider’s stock worth $4,784,190,000 after acquiring an additional 518,185 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Marsh & McLennan Companies by 127.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 899,716 shares of the financial services provider’s stock worth $200,718,000 after acquiring an additional 504,897 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Marsh & McLennan Companies by 31,846.5% during the 3rd quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider’s stock valued at $95,430,000 after purchasing an additional 426,425 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in Marsh & McLennan Companies by 93.9% during the 2nd quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock worth $160,563,000 after purchasing an additional 368,970 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays lifted their target price on Marsh & McLennan Companies from $236.00 to $246.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. BMO Capital Markets upped their target price on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Roth Mkm raised their price target on shares of Marsh & McLennan Companies from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Royal Bank of Canada upped their price objective on shares of Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Finally, 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. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $227.60.

Insiders Place Their Bets

In other news, Director Oscar Fanjul sold 2,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total transaction of $553,875.00. Following the sale, the director now directly owns 48,549 shares in the company, valued at $10,756,030.95. This represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of NYSE MMC traded up $2.29 during trading on Wednesday, reaching $235.06. 85,237 shares of the stock traded hands, compared to its average volume of 1,694,009. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $115.44 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a 52-week low of $184.28 and a 52-week high of $235.07. The company has a 50-day moving average of $223.75 and a 200-day moving average of $219.31.

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, beating the consensus estimate of $1.61 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.57 earnings per share. Analysts forecast that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 4th were issued a dividend of $0.815 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a yield of 1.39%. Marsh & McLennan Companies’s payout ratio is 40.15%.

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 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.