Phoenix Financial Ltd. Sells 1,746 Shares of Marsh & McLennan Companies, Inc. $MMC

Phoenix Financial Ltd. cut its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,283 shares of the financial services provider’s stock after selling 1,746 shares during the quarter. Phoenix Financial Ltd.’s holdings in Marsh & McLennan Companies were worth $9,463,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale grew its stake in shares of Marsh & McLennan Companies by 1.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,193,291 shares of the financial services provider’s stock valued at $258,729,000 after acquiring an additional 18,008 shares during the period. Bogart Wealth LLC boosted its stake in Marsh & McLennan Companies by 10.0% in the 2nd quarter. Bogart Wealth LLC now owns 954 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 87 shares during the period. Princeton Global Asset Management LLC boosted its stake in Marsh & McLennan Companies by 43.2% in the 2nd quarter. Princeton Global Asset Management LLC now owns 9,551 shares of the financial services provider’s stock worth $2,088,000 after purchasing an additional 2,883 shares during the period. Stephens Inc. AR boosted its stake in Marsh & McLennan Companies by 2.0% in the 2nd quarter. Stephens Inc. AR now owns 3,932 shares of the financial services provider’s stock worth $860,000 after purchasing an additional 77 shares during the period. Finally, Calamos Wealth Management LLC boosted its stake in Marsh & McLennan Companies by 1.8% in the 2nd quarter. Calamos Wealth Management LLC now owns 53,696 shares of the financial services provider’s stock worth $11,740,000 after purchasing an additional 960 shares during the period. 87.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Marsh & McLennan Companies in a research note on Wednesday, October 8th. Morgan Stanley dropped their price target on Marsh & McLennan Companies from $220.00 to $215.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upgraded Marsh & McLennan Companies from an “underperform” rating to a “market perform” rating and dropped their price target for the stock from $209.00 to $191.00 in a research note on Friday. JPMorgan Chase & Co. raised Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $248.00 to $242.00 in a report on Thursday, October 9th. Finally, Wells Fargo & Company decreased their price objective on Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating on the stock in a report on Friday. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus price target of $233.67.

Marsh & McLennan Companies Stock Performance

NYSE MMC opened at $189.98 on Tuesday. The company has a market cap of $93.40 billion, a P/E ratio of 22.78, a P/E/G ratio of 2.39 and a beta of 0.81. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50 day moving average price is $202.68 and its 200-day moving average price is $213.51. Marsh & McLennan Companies, Inc. has a fifty-two week low of $185.12 and a fifty-two week high of $248.00.

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

Marsh & McLennan Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $3.60 annualized dividend and a dividend yield of 1.9%. Marsh & McLennan Companies’s payout ratio is currently 43.17%.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Company 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.