NewEdge Wealth LLC Sells 3,265 Shares of Marsh & McLennan Companies, Inc. $MMC

NewEdge Wealth LLC reduced its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 19.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,620 shares of the financial services provider’s stock after selling 3,265 shares during the quarter. NewEdge Wealth LLC’s holdings in Marsh & McLennan Companies were worth $2,745,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Marsh & McLennan Companies by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock valued at $10,092,108,000 after purchasing an additional 837,117 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Marsh & McLennan Companies by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 12,684,210 shares of the financial services provider’s stock valued at $2,762,513,000 after buying an additional 196,475 shares in the last quarter. Norges Bank acquired a new stake in shares of Marsh & McLennan Companies during the 2nd quarter valued at about $1,328,587,000. JPMorgan Chase & Co. increased its stake in Marsh & McLennan Companies by 10.0% in the third quarter. JPMorgan Chase & Co. now owns 4,872,982 shares of the financial services provider’s stock valued at $982,071,000 after acquiring an additional 441,029 shares during the period. Finally, Artisan Partners Limited Partnership lifted its position in shares of Marsh & McLennan Companies by 0.9% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,443,454 shares of the financial services provider’s stock worth $752,877,000 after buying an additional 32,118 shares during the period. 87.99% of the stock is currently owned by institutional investors.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the company’s 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 sale, the chief executive officer directly owned 87,681 shares in the company, valued at $15,977,231.82. This represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

Marsh & McLennan Companies Trading Down 1.7%

NYSE MMC opened at $182.39 on Friday. Marsh & McLennan Companies, Inc. has a 12 month low of $174.18 and a 12 month high of $248.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19. The stock has a 50 day moving average of $183.90 and a 200-day moving average of $190.57. The company has a market cap of $89.35 billion, a PE ratio of 21.87, a PEG ratio of 2.87 and a beta of 0.76.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Thursday, January 29th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, January 29th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 43.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada started coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $200.00 target price for the company. Cantor Fitzgerald lowered their target price on Marsh & McLennan Companies from $226.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. JPMorgan Chase & Co. reduced their target price on shares of Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Mizuho assumed coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $212.00 price target on the stock. Finally, Barclays lifted their price target on shares of Marsh & McLennan Companies from $206.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $216.88.

Marsh & McLennan Companies Company 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.