Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 11.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,030 shares of the financial services provider’s stock after selling 12,081 shares during the quarter. DAVENPORT & Co LLC’s holdings in Marsh & McLennan Companies were worth $18,956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. increased its stake in Marsh & McLennan Companies by 343.3% during the fourth quarter. Valley National Advisers Inc. now owns 133 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. Indiana Trust & Investment Management CO purchased a new position in shares of Marsh & McLennan Companies during the first quarter worth $25,000. Private Wealth Management Group LLC purchased a new position in shares of Marsh & McLennan Companies during the fourth quarter worth $26,000. Headinvest LLC purchased a new position in shares of Marsh & McLennan Companies during the third quarter worth $28,000. Finally, Cordant Inc. purchased a new position in shares of Marsh & McLennan Companies during the fourth quarter worth $28,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock traded up $2.47 during trading hours on Thursday, reaching $217.34. 1,444,366 shares of the company’s stock were exchanged, compared to its average volume of 1,685,487. The company has a market cap of $107.09 billion, a P/E ratio of 27.57, a price-to-earnings-growth ratio of 3.04 and a beta of 0.94. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14. The company’s 50 day moving average is $208.90 and its two-hundred day moving average is $202.50. Marsh & McLennan Companies, Inc. has a 1 year low of $184.02 and a 1 year high of $217.39.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.09. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.38 billion. Marsh & McLennan Companies had a return on equity of 34.14% and a net margin of 16.84%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 EPS. Equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $0.815 dividend. The ex-dividend date is Thursday, July 25th. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. This represents a $3.26 annualized dividend and a yield of 1.50%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 36.04%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America raised their price target on Marsh & McLennan Companies from $223.00 to $233.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Morgan Stanley boosted their target price on Marsh & McLennan Companies from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. boosted their target price on Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday. Piper Sandler cut Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 target price for the company. in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada boosted their target price on Marsh & McLennan Companies from $210.00 to $228.00 and gave the stock a “sector perform” rating in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Marsh & McLennan Companies has an average rating of “Hold” and an average price target of $213.60.

Insider Buying and Selling at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, SVP Paul Beswick sold 2,169 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $210.13, for a total value of $455,771.97. Following the transaction, the senior vice president now directly owns 13,030 shares of the company’s stock, valued at $2,737,993.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Oscar Fanjul sold 6,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $209.01, for a total transaction of $1,254,060.00. Following the completion of the sale, the director now directly owns 53,393 shares in the company, valued at $11,159,670.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul Beswick sold 2,169 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $210.13, for a total value of $455,771.97. Following the sale, the senior vice president now owns 13,030 shares of the company’s stock, valued at $2,737,993.90. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

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.