Federated Hermes Inc. Sells 8,453 Shares of Marsh & McLennan Companies, Inc. $MMC

Federated Hermes Inc. trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 62.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,065 shares of the financial services provider’s stock after selling 8,453 shares during the period. Federated Hermes Inc.’s holdings in Marsh & McLennan Companies were worth $1,021,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Norges Bank bought a new position in Marsh & McLennan Companies during the 2nd quarter worth approximately $1,328,587,000. Soundwatch Capital LLC bought a new position in shares of Marsh & McLennan Companies in the second quarter worth approximately $560,820,000. Mackenzie Financial Corp increased its stake in shares of Marsh & McLennan Companies by 212.6% in the second quarter. Mackenzie Financial Corp now owns 2,285,194 shares of the financial services provider’s stock worth $499,635,000 after buying an additional 1,554,114 shares during the period. Amundi boosted its position in Marsh & McLennan Companies by 89.2% during the 2nd quarter. Amundi now owns 2,892,576 shares of the financial services provider’s stock valued at $615,309,000 after buying an additional 1,363,706 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Marsh & McLennan Companies by 1.8% in the second quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock valued at $10,092,108,000 after acquiring an additional 837,117 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction on 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 transaction, the chief executive officer owned 87,681 shares in the company, valued at approximately $15,977,231.82. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Marsh & McLennan Companies from $212.00 to $199.00 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. Barclays lifted their price objective on Marsh & McLennan Companies from $206.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Marsh & McLennan Companies in a report on Friday, October 31st. Mizuho assumed coverage on shares of Marsh & McLennan Companies in a report on Tuesday, December 16th. They issued an “outperform” rating and a $212.00 price target on the stock. Finally, Cantor Fitzgerald decreased their price objective on shares of Marsh & McLennan Companies from $226.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus price target of $216.88.

Marsh & McLennan Companies Stock Down 1.7%

Shares of Marsh & McLennan Companies stock opened at $182.39 on Friday. Marsh & McLennan Companies, Inc. has a 1 year low of $174.18 and a 1 year high of $248.00. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50-day moving average of $184.00 and a 200 day moving average of $192.10. The firm has a market cap of $89.35 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.87 and a beta of 0.76.

Marsh & McLennan Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 29th will be paid a $0.90 dividend. The ex-dividend date is Thursday, January 29th. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio is presently 43.17%.

Marsh & McLennan Companies Profile

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.