Martingale Asset Management L P Sells 15,398 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Martingale Asset Management L P lowered its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 14.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 92,147 shares of the financial services provider’s stock after selling 15,398 shares during the quarter. Martingale Asset Management L P’s holdings in Marsh & McLennan Companies were worth $20,557,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Carmichael Hill & Associates Inc. increased its stake in shares of Marsh & McLennan Companies by 85.7% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 130 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 60 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Marsh & McLennan Companies during the 3rd quarter valued at $31,000. Crewe Advisors LLC increased its stake in Marsh & McLennan Companies by 100.0% during the 2nd 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 in the last quarter. Capital Performance Advisors LLP bought a new stake in Marsh & McLennan Companies during the 3rd quarter valued at $41,000. Finally, Ridgewood Investments LLC bought a new stake in Marsh & McLennan Companies during the 2nd quarter valued at $41,000. Institutional investors own 87.99% of the company’s stock.

Analyst Upgrades and Downgrades

MMC has been the subject of a number of recent research reports. BMO Capital Markets boosted their price target on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Bank of America boosted 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. Roth Mkm boosted their price target on shares of Marsh & McLennan Companies from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Royal Bank of Canada increased their target price 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, October 18th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Marsh & McLennan Companies has an average rating of “Hold” and an average target price of $227.60.

Marsh & McLennan Companies Stock Performance

NYSE:MMC opened at $233.24 on Friday. The stock has a market cap of $114.55 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 2.81 and a beta of 0.94. The firm’s fifty day simple moving average is $224.06 and its 200 day simple moving average is $219.50. Marsh & McLennan Companies, Inc. has a twelve month low of $184.28 and a twelve month high of $235.21. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.89.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, beating the consensus estimate of $1.61 by $0.02. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.71 billion. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 earnings per share. As a group, research analysts predict that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were given a $0.815 dividend. This represents a $3.26 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio is presently 40.15%.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total transaction of $553,875.00. Following the completion of the sale, the director now directly owns 48,549 shares in the company, valued at $10,756,030.95. The trade was a 4.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by insiders.

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.