Wealthspire Advisors LLC Lowers Stake in Marsh & McLennan Companies, Inc. $MMC

Wealthspire Advisors LLC trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 34.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,319 shares of the financial services provider’s stock after selling 1,219 shares during the quarter. Wealthspire Advisors LLC’s holdings in Marsh & McLennan Companies were worth $507,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MMC. Wellington Management Group LLP increased its holdings in shares of Marsh & McLennan Companies by 54.2% in the first quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider’s stock valued at $3,127,193,000 after purchasing an additional 4,505,548 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Marsh & McLennan Companies in the 1st quarter worth $1,038,594,000. Valeo Financial Advisors LLC raised its holdings in shares of Marsh & McLennan Companies by 48,212.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,629,187 shares of the financial services provider’s stock worth $574,845,000 after acquiring an additional 2,623,745 shares during the period. Vanguard Group Inc. grew its holdings 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 purchasing an additional 837,117 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Marsh & McLennan Companies by 5,035.9% during the second quarter. Assenagon Asset Management S.A. now owns 808,800 shares of the financial services provider’s stock worth $176,836,000 after purchasing an additional 793,052 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Insider Activity at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the sale, the chief executive officer owned 87,681 shares of the company’s stock, valued at approximately $18,031,597.65. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and cut their price target for the stock from $200.00 to $195.00 in a report on Monday, October 20th. TD Cowen cut their target price on Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a research note on Monday, November 3rd. Cantor Fitzgerald initiated coverage on Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $256.00 price target on the stock. Evercore ISI cut their price objective on Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Finally, Keefe, Bruyette & Woods upgraded shares of Marsh & McLennan Companies from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $209.00 to $191.00 in a report on Friday, October 17th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $227.69.

Marsh & McLennan Companies Trading Up 1.2%

MMC opened at $181.08 on Friday. The company has a market cap of $88.71 billion, a P/E ratio of 21.71, a PEG ratio of 2.25 and a beta of 0.78. 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, Inc. has a one year low of $174.18 and a one year high of $248.00. The business’s 50-day simple moving average is $190.92 and its 200-day simple moving average is $206.46.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same period in the previous year, the company posted $1.63 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, equities research analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, October 2nd were given a $0.90 dividend. The ex-dividend date was Thursday, October 2nd. This represents a $3.60 annualized dividend and a yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio is presently 43.17%.

Marsh & McLennan Companies Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.