Sawgrass Asset Management LLC Sells 23,813 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Sawgrass Asset Management LLC lessened its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 32.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 49,308 shares of the financial services provider’s stock after selling 23,813 shares during the period. Sawgrass Asset Management LLC’s holdings in Marsh & McLennan Companies were worth $9,342,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MMC. Cambridge Investment Research Advisors Inc. raised its position in Marsh & McLennan Companies by 16.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 10,534 shares of the financial services provider’s stock worth $2,005,000 after purchasing an additional 1,522 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Marsh & McLennan Companies by 9.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 61,152 shares of the financial services provider’s stock worth $11,637,000 after purchasing an additional 5,164 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in Marsh & McLennan Companies by 27.5% in the third quarter. Stratos Wealth Partners LTD. now owns 3,943 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 850 shares in the last quarter. Lindbrook Capital LLC raised its position in Marsh & McLennan Companies by 7.2% in the third quarter. Lindbrook Capital LLC now owns 1,270 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 85 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in shares of Marsh & McLennan Companies by 4.0% during the third quarter. IFM Investors Pty Ltd now owns 98,376 shares of the financial services provider’s stock worth $18,721,000 after buying an additional 3,822 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Marsh & McLennan Companies from $208.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, April 19th. UBS Group raised their price objective on shares of Marsh & McLennan Companies from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Evercore ISI raised their price objective on shares of Marsh & McLennan Companies from $212.00 to $218.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Piper Sandler lowered shares of Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 price target for the company. in a report on Wednesday, April 17th. Finally, Wells Fargo & Company raised their price objective on shares of Marsh & McLennan Companies from $212.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $207.69.

Insider Buying and Selling

In related news, VP Stacy Mills sold 1,461 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $209.16, for a total transaction of $305,582.76. Following the sale, the vice president now directly owns 2,923 shares in the company, valued at $611,374.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Marsh & McLennan Companies news, VP Stacy Mills sold 1,461 shares of Marsh & McLennan Companies stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $209.16, for a total value of $305,582.76. Following the sale, the vice president now directly owns 2,923 shares in the company, valued at approximately $611,374.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dean Michael Klisura sold 9,994 shares of Marsh & McLennan Companies stock in a transaction on Friday, March 8th. The shares were sold at an average price of $205.00, for a total transaction of $2,048,770.00. Following the completion of the sale, the chief executive officer now owns 20,935 shares in the company, valued at $4,291,675. The disclosure for this sale can be found here. Insiders have sold a total of 36,751 shares of company stock worth $7,448,163 over the last ninety days. Company insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Trading Down 0.1 %

Shares of NYSE MMC traded down $0.13 during midday trading on Wednesday, reaching $203.58. 794,775 shares of the stock were exchanged, compared to its average volume of 1,713,593. The business has a 50-day simple moving average of $202.81 and a two-hundred day simple moving average of $197.67. The company has a market capitalization of $100.31 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 3.31 and a beta of 0.90. Marsh & McLennan Companies, Inc. has a 12 month low of $171.47 and a 12 month high of $209.20. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.09. Marsh & McLennan Companies had a net margin of 16.84% and a return on equity of 34.14%. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same period last year, the business posted $2.53 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts expect that Marsh & McLennan Companies, Inc. will post 8.71 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 4th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.40%. Marsh & McLennan Companies’s payout ratio is 36.04%.

Marsh & McLennan Companies Company Profile

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.