Marsh & McLennan Companies, Inc. (NYSE:MMC) Stake Lowered by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC trimmed its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 44,449 shares of the financial services provider’s stock after selling 1,885 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Marsh & McLennan Companies were worth $9,916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in shares of Marsh & McLennan Companies in the 1st quarter valued at approximately $27,000. Carmichael Hill & Associates Inc. lifted its stake in Marsh & McLennan Companies by 85.7% in the third quarter. Carmichael Hill & Associates Inc. now owns 130 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 60 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Marsh & McLennan Companies in the third quarter worth approximately $31,000. Crewe Advisors LLC raised its holdings in shares of Marsh & McLennan Companies by 100.0% during the 2nd quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 80 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Marsh & McLennan Companies in the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MMC shares. The Goldman Sachs Group set a $220.00 target price on Marsh & McLennan Companies and gave the company a “sell” rating in a report on Friday, October 18th. Wells Fargo & Company decreased their target price on Marsh & McLennan Companies from $212.00 to $211.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 22nd. Bank of America raised their target price on shares of Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, UBS Group boosted their target price on shares of Marsh & McLennan Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $225.33.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of Marsh & McLennan Companies stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total transaction of $553,875.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.

Marsh & McLennan Companies Price Performance

Shares of MMC stock opened at $222.14 on Friday. The company has a market capitalization of $109.10 billion, a P/E ratio of 27.36, a P/E/G ratio of 3.30 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.89. Marsh & McLennan Companies, Inc. has a 12 month low of $184.28 and a 12 month high of $232.32. The stock has a 50 day moving average of $224.31 and a two-hundred day moving average of $218.02.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. The firm 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 business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.57 earnings per share. As a group, equities analysts expect that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently disclosed 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. This represents a $3.26 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Friday, October 4th. 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.