Mirae Asset Global Investments Co. Ltd. Cuts Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Mirae Asset Global Investments Co. Ltd. lowered its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,910 shares of the financial services provider’s stock after selling 1,984 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Marsh & McLennan Companies were worth $23,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of MMC. Jones Financial Companies Lllp raised its holdings in shares of Marsh & McLennan Companies by 40.5% during the second quarter. Jones Financial Companies Lllp now owns 184 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 53 shares in the last quarter. Capital Advisors Ltd. LLC bought a new position in shares of Marsh & McLennan Companies during the second quarter valued at approximately $36,000. Nemes Rush Group LLC bought a new position in Marsh & McLennan Companies in the second quarter worth $43,000. Concord Wealth Partners raised its holdings in Marsh & McLennan Companies by 40.0% in the second quarter. Concord Wealth Partners now owns 252 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 72 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in Marsh & McLennan Companies by 91.1% in the first quarter. Raleigh Capital Management Inc. now owns 258 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MMC. Morgan Stanley raised their target price on Marsh & McLennan Companies from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 11th. Citigroup boosted their price objective on Marsh & McLennan Companies from $201.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, October 20th. Deutsche Bank Aktiengesellschaft initiated coverage on Marsh & McLennan Companies in a report on Wednesday, October 4th. They issued a “buy” rating and a $226.00 target price for the company. Royal Bank of Canada boosted their price target on Marsh & McLennan Companies from $195.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, October 20th. Finally, StockNews.com initiated coverage on Marsh & McLennan Companies in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $201.38.

Marsh & McLennan Companies Price Performance

NYSE:MMC opened at $198.67 on Tuesday. The firm’s fifty day moving average is $193.37 and its two-hundred day moving average is $188.20. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.08 and a current ratio of 1.08. Marsh & McLennan Companies, Inc. has a one year low of $151.86 and a one year high of $201.00. The firm has a market cap of $97.96 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 2.26 and a beta of 0.97.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, October 19th. The financial services provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.18. Marsh & McLennan Companies had a return on equity of 34.01% and a net margin of 15.61%. The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the firm earned $1.18 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Research analysts expect that Marsh & McLennan Companies, Inc. will post 7.93 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 6th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, October 5th. Marsh & McLennan Companies’s dividend payout ratio is presently 40.92%.

Insider Activity at Marsh & McLennan Companies

In related news, Director Oscar Fanjul sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $194.90, for a total value of $584,700.00. Following the transaction, the director now directly owns 63,012 shares of the company’s stock, valued at approximately $12,281,038.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $194.90, for a total value of $584,700.00. Following the transaction, the director now directly owns 63,012 shares of the company’s stock, valued at approximately $12,281,038.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO John Jude Jones sold 4,908 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $193.08, for a total transaction of $947,636.64. Following the completion of the transaction, the chief marketing officer now directly owns 7,978 shares in the company, valued at $1,540,392.24. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate 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 in two segments, Risk and Insurance Services, and Consulting. 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.