Sawgrass Asset Management LLC Reduces Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Sawgrass Asset Management LLC reduced its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 41,912 shares of the financial services provider’s stock after selling 2,537 shares during the period. Sawgrass Asset Management LLC’s holdings in Marsh & McLennan Companies were worth $8,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC raised its holdings in Marsh & McLennan Companies by 18.8% in the 3rd quarter. Fortitude Family Office LLC now owns 285 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 45 shares during the period. Geneos Wealth Management Inc. raised its holdings in Marsh & McLennan Companies by 3.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,324 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 47 shares during the period. Hemington Wealth Management raised its holdings in Marsh & McLennan Companies by 6.7% in the 4th quarter. Hemington Wealth Management now owns 768 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 48 shares during the period. TFB Advisors LLC raised its holdings in Marsh & McLennan Companies by 2.0% in the 4th quarter. TFB Advisors LLC now owns 2,576 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 51 shares during the period. Finally, BSW Wealth Partners raised its holdings in Marsh & McLennan Companies by 5.1% in the 3rd quarter. BSW Wealth Partners now owns 1,086 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 53 shares during the period. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Stock Performance

Shares of NYSE:MMC opened at $228.88 on Thursday. The firm has a 50 day moving average of $216.67 and a 200 day moving average of $221.78. The company has a market capitalization of $112.41 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 2.35 and a beta of 0.96. The company has a quick ratio of 1.14, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. Marsh & McLennan Companies, Inc. has a 52 week low of $194.94 and a 52 week high of $235.50.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.12. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. On average, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.54 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 30th will be issued a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, January 30th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 39.80%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank of Canada raised Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $242.00 to $250.00 in a report on Thursday, December 12th. Keefe, Bruyette & Woods reduced their target price on Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating on the stock in a report on Monday, February 3rd. UBS Group lifted their target price on Marsh & McLennan Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Roth Mkm lifted their price target on Marsh & McLennan Companies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price target on Marsh & McLennan Companies from $230.00 to $235.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $230.44.

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.