Nordea Investment Management AB Cuts Position in Marsh & McLennan Companies, Inc. $MMC

Nordea Investment Management AB lowered its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 12.9% during the third quarter, Holdings Channel reports. The institutional investor owned 572,964 shares of the financial services provider’s stock after selling 85,176 shares during the period. Nordea Investment Management AB’s holdings in Marsh & McLennan Companies were worth $114,899,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new stake in shares of Marsh & McLennan Companies in the 3rd quarter worth approximately $25,000. Headlands Technologies LLC acquired a new position in Marsh & McLennan Companies during the second quarter worth $29,000. Westside Investment Management Inc. boosted its position in Marsh & McLennan Companies by 363.3% during the second quarter. Westside Investment Management Inc. now owns 139 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 109 shares in the last quarter. Delos Wealth Advisors LLC purchased a new position in shares of Marsh & McLennan Companies in the second quarter valued at $32,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Marsh & McLennan Companies during the 3rd quarter worth $32,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Stock Performance

Shares of MMC opened at $182.35 on Wednesday. Marsh & McLennan Companies, Inc. has a 1 year low of $174.18 and a 1 year high of $248.00. The company’s 50 day simple moving average is $183.39 and its 200 day simple moving average is $195.70. The company has a market capitalization of $89.34 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.92 and a beta of 0.76. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12.

Marsh & McLennan Companies (NYSE:MMC) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.78 by $0.07. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same period in the previous year, the company earned $1.63 EPS. Marsh & McLennan Companies’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Insiders Place Their Bets

In related news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 87,681 shares in the company, valued at approximately $15,977,231.82. This represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MMC. Keefe, Bruyette & Woods increased their price objective on shares of Marsh & McLennan Companies from $191.00 to $205.00 and gave the company a “market perform” rating in a research note on Tuesday, January 6th. Mizuho began 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. JPMorgan Chase & Co. dropped their price objective on shares of Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Wolfe Research started coverage on Marsh & McLennan Companies in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Marsh & McLennan Companies in a research report on Friday, October 31st. Eight 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $221.65.

About Marsh & McLennan Companies

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.