Varma Mutual Pension Insurance Co Sells 6,096 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Varma Mutual Pension Insurance Co lessened its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,204 shares of the financial services provider’s stock after selling 6,096 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Marsh & McLennan Companies were worth $23,433,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Prestige Wealth Management Group LLC boosted its position in shares of Marsh & McLennan Companies by 73.0% during the 2nd quarter. Prestige Wealth Management Group LLC now owns 2,613 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 1,103 shares during the last quarter. Triasima Portfolio Management inc. lifted its position in Marsh & McLennan Companies by 1.8% in the 2nd quarter. Triasima Portfolio Management inc. now owns 20,430 shares of the financial services provider’s stock worth $4,305,000 after buying an additional 360 shares during the last quarter. Ballentine Partners LLC boosted its stake in Marsh & McLennan Companies by 11.6% in the second quarter. Ballentine Partners LLC now owns 8,616 shares of the financial services provider’s stock worth $1,816,000 after buying an additional 897 shares in the last quarter. Caprock Group LLC grew its position in Marsh & McLennan Companies by 129.2% during the second quarter. Caprock Group LLC now owns 12,618 shares of the financial services provider’s stock valued at $2,659,000 after acquiring an additional 7,113 shares during the last quarter. Finally, MainStreet Investment Advisors LLC bought a new stake in shares of Marsh & McLennan Companies in the 2nd quarter worth approximately $247,000. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Down 0.3 %

NYSE MMC traded down $0.61 during trading hours on Friday, reaching $227.85. 1,657,605 shares of the company’s stock traded hands, compared to its average volume of 1,655,252. The firm has a market cap of $112.27 billion, a PE ratio of 28.91, a PEG ratio of 3.17 and a beta of 0.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.17 and a quick ratio of 1.17. Marsh & McLennan Companies, Inc. has a 52-week low of $184.02 and a 52-week high of $232.32. The firm has a 50-day simple moving average of $220.38 and a 200 day simple moving average of $210.58.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.01. The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.31 billion. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 EPS. Sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.74 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a yield of 1.43%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, July 25th. Marsh & McLennan Companies’s dividend payout ratio is 41.37%.

Insiders Place Their Bets

In related news, Director Oscar Fanjul sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $209.01, for a total value of $1,254,060.00. Following the transaction, the director now directly owns 53,393 shares of the company’s stock, valued at approximately $11,159,670.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Paul Beswick sold 2,169 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $477,180.00. Following the transaction, the senior vice president now owns 11,861 shares in the company, valued at $2,609,420. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Oscar Fanjul sold 6,000 shares of Marsh & McLennan Companies stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $11,159,670.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,735 shares of company stock valued at $6,151,377. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MMC. Barclays initiated coverage on shares of Marsh & McLennan Companies in a report on Wednesday. They set an “equal weight” rating and a $236.00 target price on the stock. Bank of America lifted their price objective on Marsh & McLennan Companies from $223.00 to $233.00 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Roth Mkm raised their price target on Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Royal Bank of Canada boosted their price objective on Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $215.53.

About Marsh & McLennan Companies

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.