Essex LLC Reduces Position in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Essex LLC reduced its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,008 shares of the financial services provider’s stock after selling 1,184 shares during the period. Marsh & McLennan Companies makes up approximately 1.0% of Essex LLC’s investment portfolio, making the stock its 20th biggest holding. Essex LLC’s holdings in Marsh & McLennan Companies were worth $4,910,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Indiana Trust & Investment Management CO purchased a new position in Marsh & McLennan Companies during the 1st quarter worth approximately $25,000. Headlands Technologies LLC acquired a new stake in shares of Marsh & McLennan Companies in the first quarter worth $27,000. Crewe Advisors LLC lifted its position in Marsh & McLennan Companies by 100.0% during the second quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 80 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Marsh & McLennan Companies in the first quarter valued at $35,000. Finally, Iron Horse Wealth Management LLC grew its position in Marsh & McLennan Companies by 712.5% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 195 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 171 shares during the period. 87.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on MMC shares. Jefferies Financial Group upped their target price on Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Roth Mkm lifted their target price on shares of Marsh & McLennan Companies from $220.00 to $230.00 and gave the company a “neutral” rating in a report on Friday. Bank of America increased their price target on shares of Marsh & McLennan Companies from $248.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada upped their price objective on shares of Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a “sector perform” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Marsh & McLennan Companies currently has an average rating of “Hold” and an average target price of $220.13.

Marsh & McLennan Companies Price Performance

NYSE:MMC opened at $224.66 on Friday. The stock has a 50 day moving average of $225.28 and a two-hundred day moving average of $214.99. Marsh & McLennan Companies, Inc. has a 12 month low of $184.02 and a 12 month high of $232.32. The firm has a market cap of $110.70 billion, a P/E ratio of 28.51, a price-to-earnings-growth ratio of 3.58 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.91.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, topping the consensus estimate of $1.61 by $0.02. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the business earned $1.57 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts expect that Marsh & McLennan Companies, Inc. will post 8.73 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 4th will be paid a dividend of $0.815 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $3.26 annualized dividend and a yield of 1.45%. Marsh & McLennan Companies’s dividend payout ratio is presently 41.37%.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, CFO Mark C. Mcgivney sold 10,265 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $226.41, for a total value of $2,324,098.65. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares in the company, valued at $7,625,035.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Stacy Mills sold 4,101 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $225.77, for a total value of $925,882.77. Following the completion of the sale, the vice president now owns 2,923 shares of the company’s stock, valued at approximately $659,925.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark C. Mcgivney sold 10,265 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $226.41, for a total transaction of $2,324,098.65. Following the sale, the chief financial officer now owns 33,678 shares of the company’s stock, valued at approximately $7,625,035.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,566 shares of company stock worth $4,420,137. Insiders own 0.30% of the company’s stock.

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.