Truist Financial Corp Sells 778,885 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Truist Financial Corp reduced its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 62.1% in the 4th quarter, Holdings Channel reports. The firm owned 474,784 shares of the financial services provider’s stock after selling 778,885 shares during the quarter. Truist Financial Corp’s holdings in Marsh & McLennan Companies were worth $89,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Valley National Advisers Inc. increased its stake in shares of Marsh & McLennan Companies by 343.3% in the fourth quarter. Valley National Advisers Inc. now owns 133 shares of the financial services provider’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in Marsh & McLennan Companies in the third quarter worth about $27,000. Headinvest LLC acquired a new stake in Marsh & McLennan Companies in the third quarter worth about $28,000. Cordant Inc. acquired a new stake in Marsh & McLennan Companies in the fourth quarter worth about $28,000. Finally, OFI Invest Asset Management acquired a new stake in Marsh & McLennan Companies in the third quarter worth about $28,000. 87.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, CEO Martine Ferland sold 9,128 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $201.63, for a total transaction of $1,840,478.64. Following the completion of the sale, the chief executive officer now directly owns 9,979 shares in the company, valued at approximately $2,012,065.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Martine Ferland sold 9,128 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $201.63, for a total transaction of $1,840,478.64. Following the completion of the sale, the chief executive officer now directly owns 9,979 shares in the company, valued at approximately $2,012,065.77. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Stacy Mills sold 1,461 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $209.16, for a total value of $305,582.76. Following the sale, the vice president now owns 2,923 shares of the company’s stock, valued at $611,374.68. The disclosure for this sale can be found here. Insiders have sold a total of 36,751 shares of company stock valued at $7,448,163 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MMC has been the subject of a number of research reports. TD Cowen lifted their price objective on Marsh & McLennan Companies from $189.00 to $201.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. UBS Group raised their target price on 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 target price on Marsh & McLennan Companies from $212.00 to $218.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods raised their target price on Marsh & McLennan Companies from $185.00 to $188.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their price target on Marsh & McLennan Companies from $212.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, April 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $207.69.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock traded down $3.52 during trading on Friday, reaching $197.95. 1,783,604 shares of the company’s stock were exchanged, compared to its average volume of 1,810,961. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $97.53 billion, a PE ratio of 25.12, a PEG ratio of 3.36 and a beta of 0.90. Marsh & McLennan Companies, Inc. has a twelve month low of $171.47 and a twelve month high of $209.20. The firm’s fifty day moving average price is $203.10 and its 200-day moving average price is $197.13.

Marsh & McLennan Companies (NYSE:MMC) last posted its earnings results on Thursday, April 18th. The financial services provider reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.09. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.38 billion. Marsh & McLennan Companies had a return on equity of 34.14% and a net margin of 16.84%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.53 EPS. As a group, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 8.69 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 4th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Wednesday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio is 36.04%.

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 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.