Marsh & McLennan Companies, Inc. (NYSE:MMC) Stock Position Cut by Lazard Asset Management LLC

Lazard Asset Management LLC reduced its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,736,052 shares of the financial services provider’s stock after selling 321,773 shares during the period. Marsh & McLennan Companies accounts for approximately 0.9% of Lazard Asset Management LLC’s holdings, making the stock its 27th biggest position. Lazard Asset Management LLC owned approximately 0.56% of Marsh & McLennan Companies worth $581,163,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Louisbourg Investments Inc. lifted its holdings in shares of Marsh & McLennan Companies by 67.2% in the fourth quarter. Louisbourg Investments Inc. now owns 8,211 shares of the financial services provider’s stock valued at $1,744,000 after buying an additional 3,300 shares during the period. Czech National Bank boosted its position in shares of Marsh & McLennan Companies by 6.3% during the 4th quarter. Czech National Bank now owns 106,485 shares of the financial services provider’s stock valued at $22,618,000 after purchasing an additional 6,310 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Marsh & McLennan Companies by 9.4% in the 4th quarter. Handelsbanken Fonder AB now owns 191,512 shares of the financial services provider’s stock worth $40,679,000 after purchasing an additional 16,464 shares during the last quarter. Brentview Investment Management LLC acquired a new stake in Marsh & McLennan Companies during the fourth quarter valued at approximately $3,635,000. Finally, Occidental Asset Management LLC boosted its holdings in Marsh & McLennan Companies by 8.7% during the fourth quarter. Occidental Asset Management LLC now owns 19,359 shares of the financial services provider’s stock worth $4,112,000 after buying an additional 1,555 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Insider Buying and Selling

In other news, VP Stacy Mills sold 1,317 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $234.97, for a total transaction of $309,455.49. Following the transaction, the vice president now owns 2,923 shares in the company, valued at approximately $686,817.31. The trade was a 31.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas Mark Studer sold 49,390 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $230.16, for a total transaction of $11,367,602.40. Following the completion of the sale, the chief executive officer now owns 28,329 shares of the company’s stock, valued at approximately $6,520,202.64. The trade was a 63.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,634 shares of company stock worth $16,244,986 in the last quarter. 0.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MMC. Wells Fargo & Company lifted their target price on Marsh & McLennan Companies from $223.00 to $232.00 and gave the stock an “equal weight” rating in a report on Thursday, April 10th. Jefferies Financial Group boosted their price objective on Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a “hold” rating in a report on Friday, April 11th. UBS Group raised their target price on shares of Marsh & McLennan Companies from $259.00 to $261.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Redburn Atlantic started coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, March 25th. They issued a “buy” rating and a $281.00 price target for the company. Finally, Raymond James reiterated an “outperform” rating and set a $250.00 price objective (up from $240.00) on shares of Marsh & McLennan Companies in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has an average rating of “Hold” and a consensus price target of $241.93.

Marsh & McLennan Companies Price Performance

NYSE MMC opened at $226.79 on Monday. The stock has a market capitalization of $111.75 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 2.70 and a beta of 0.85. The company has a 50 day moving average price of $230.14 and a two-hundred day moving average price of $224.68. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. Marsh & McLennan Companies, Inc. has a 12-month low of $201.77 and a 12-month high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.04. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.08 billion. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. During the same quarter in the previous year, the firm earned $2.89 earnings per share. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Thursday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio is currently 39.95%.

About Marsh & McLennan Companies

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.