Marsh & McLennan Companies, Inc. (NYSE:MMC) Holdings Decreased by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC cut its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,449 shares of the financial services provider’s stock after selling 1,885 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Marsh & McLennan Companies were worth $9,916,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MMC. Assenagon Asset Management S.A. boosted its stake in Marsh & McLennan Companies by 4,991.4% in the second quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider’s stock valued at $146,047,000 after acquiring an additional 679,474 shares during the period. International Assets Investment Management LLC boosted its position in Marsh & McLennan Companies by 31,846.5% during the 3rd quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider’s stock valued at $95,430,000 after purchasing an additional 426,425 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Marsh & McLennan Companies by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,624,073 shares of the financial services provider’s stock worth $2,188,348,000 after buying an additional 380,828 shares during the last quarter. Truist Financial Corp increased its position in Marsh & McLennan Companies by 93.9% in the second quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock worth $160,563,000 after buying an additional 368,970 shares during the period. Finally, Los Angeles Capital Management LLC lifted its stake in Marsh & McLennan Companies by 219.5% in the third quarter. Los Angeles Capital Management LLC now owns 529,239 shares of the financial services provider’s stock valued at $118,068,000 after buying an additional 363,569 shares during the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

Shares of NYSE:MMC opened at $222.14 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $109.10 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 3.30 and a beta of 0.94. The stock has a fifty day moving average of $224.31 and a 200-day moving average of $218.02. Marsh & McLennan Companies, Inc. has a one year low of $184.28 and a one year high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.71 billion. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. Marsh & McLennan Companies’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $1.57 EPS. As a group, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.7 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 4th were given a $0.815 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 annualized dividend and a dividend yield of 1.47%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 40.15%.

Analyst Ratings Changes

A number of research firms recently weighed in on MMC. Jefferies Financial Group increased their price objective on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their price objective on Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group set a $220.00 target price on Marsh & McLennan Companies and gave the company a “sell” rating in a research note on Friday, October 18th. Barclays assumed coverage on Marsh & McLennan Companies in a report on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 price target on the stock. Finally, BMO Capital Markets increased their target price on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $225.33.

Insider Buying and Selling

In related news, Director Oscar Fanjul sold 2,500 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total value of $553,875.00. Following the completion of the sale, the director now directly owns 48,549 shares of the company’s stock, valued at approximately $10,756,030.95. This represents a 4.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% 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 through Risk and Insurance Services, and Consulting segments. 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, strategic advisory services, and analytics solutions, and insurance program management services.