Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 61,979 shares of the financial services provider’s stock after selling 2,590 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Marsh & McLennan Companies were worth $6,905,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Savior LLC bought a new stake in Marsh & McLennan Companies during the 4th quarter valued at $30,000. Gradient Investments LLC bought a new position in Marsh & McLennan Companies in the 3rd quarter worth about $34,000. Thor Advisors LLC bought a new position in Marsh & McLennan Companies during the 3rd quarter valued at about $52,000. Manchester Financial Inc. bought a new position in Marsh & McLennan Companies during the 4th quarter valued at about $74,000. Finally, Contravisory Investment Management Inc. lifted its stake in Marsh & McLennan Companies by 16.2% during the 3rd quarter. Contravisory Investment Management Inc. now owns 866 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 121 shares during the period. Hedge funds and other institutional investors own 87.08% of the company’s stock.
MMC traded down $0.81 during trading on Friday, reaching $113.67. 42,091 shares of the company traded hands, compared to its average volume of 1,249,774. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a 12-month low of $82.10 and a 12-month high of $114.56. The firm has a fifty day simple moving average of $111.54 and a 200 day simple moving average of $103.54. The company has a market cap of $57.34 billion, a P/E ratio of 38.57, a PEG ratio of 1.82 and a beta of 0.76.
Marsh & McLennan Companies announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 21st that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 29th will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, January 28th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 41.84%.
In other Marsh & McLennan Companies news, SVP Laurie Ledford sold 4,305 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $108.18, for a total transaction of $465,714.90. Company insiders own 1.16% of the company’s stock.
Several equities analysts have recently weighed in on MMC shares. Citigroup initiated coverage on shares of Marsh & McLennan Companies in a research note on Tuesday. They issued a “buy” rating and a $130.00 price objective on the stock. Wells Fargo & Co reissued a “hold” rating and issued a $95.00 target price on shares of Marsh & McLennan Companies in a report on Tuesday, October 29th. Finally, Raymond James raised shares of Marsh & McLennan Companies from an “underperform” rating to an “outperform” rating and set a $115.00 target price for the company in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus price target of $106.00.
Marsh & McLennan Companies 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 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, reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.
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