Azimuth Capital Management LLC reduced its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,996 shares of the financial services provider’s stock after selling 314 shares during the quarter. Azimuth Capital Management LLC’s holdings in Marsh & McLennan Companies were worth $6,435,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Marsh & McLennan Companies during the fourth quarter worth about $29,000. Graves Light Private Wealth Management Inc. acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at approximately $34,000. Addison Advisors LLC acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at approximately $35,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at approximately $38,000. Finally, First Horizon Advisors Inc. grew its position in shares of Marsh & McLennan Companies by 39.3% in the third quarter. First Horizon Advisors Inc. now owns 340 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 86.56% of the company’s stock.
Several analysts have recently commented on MMC shares. Credit Suisse Group upgraded shares of Marsh & McLennan Companies from a “neutral” rating to an “outperform” rating and increased their price target for the company from $120.00 to $130.00 in a research report on Monday, January 11th. Evercore ISI started coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, December 16th. They issued an “inline” rating and a $130.00 price target on the stock. Smith Barney Citigroup lowered shares of Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $135.00 to $130.00 in a research report on Tuesday, December 8th. Morgan Stanley raised their target price on shares of Marsh & McLennan Companies from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 12th. Finally, The Goldman Sachs Group lowered shares of Marsh & McLennan Companies from a “buy” rating to a “sell” rating and decreased their target price for the stock from $126.00 to $112.00 in a research report on Friday, January 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus price target of $117.72.
Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Wednesday, January 27th. The financial services provider reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.06. Marsh & McLennan Companies had a net margin of 11.91% and a return on equity of 31.20%. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the firm posted $1.19 earnings per share. Marsh & McLennan Companies’s revenue was up 3.6% on a year-over-year basis. On average, analysts predict that Marsh & McLennan Companies, Inc. will post 4.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 12th. Stockholders of record on Monday, February 1st were paid a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Friday, January 29th. Marsh & McLennan Companies’s dividend payout ratio is presently 39.91%.
In other news, CEO Daniel S. Glaser sold 314,516 shares of the firm’s stock in a transaction on Friday, December 11th. The shares were sold at an average price of $115.39, for a total value of $36,292,001.24. Following the transaction, the chief executive officer now owns 101,074 shares of the company’s stock, valued at approximately $11,662,928.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.
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 in two segments, Risk and Insurance Services, and Consulting. 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, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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