Lazard Asset Management LLC Sells 321,773 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Lazard Asset Management LLC decreased its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 10.5% during the 4th quarter, Holdings Channel reports. The firm owned 2,736,052 shares of the financial services provider’s stock after selling 321,773 shares during the quarter. Marsh & McLennan Companies makes up 0.9% of Lazard Asset Management LLC’s investment portfolio, making the stock its 27th biggest holding. Lazard Asset Management LLC’s holdings in Marsh & McLennan Companies were worth $581,163,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at approximately $33,000. Sierra Ocean LLC bought a new position in Marsh & McLennan Companies in the fourth quarter valued at about $36,000. Albion Financial Group UT acquired a new position in Marsh & McLennan Companies during the 4th quarter valued at about $38,000. Transce3nd LLC bought a new position in shares of Marsh & McLennan Companies in the 4th quarter valued at about $39,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth approximately $41,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Stacy Mills sold 1,317 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $234.97, for a total transaction of $309,455.49. Following the sale, the vice president now owns 2,923 shares of the company’s stock, valued at $686,817.31. This trade represents a 31.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Paul Beswick sold 2,237 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $246.00, for a total transaction of $550,302.00. Following the completion of the transaction, the senior vice president now owns 13,522 shares of the company’s stock, valued at approximately $3,326,412. This trade represents a 14.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,634 shares of company stock worth $16,244,986 in the last three months. 0.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Marsh & McLennan Companies from $223.00 to $232.00 and gave the stock an “equal weight” rating in a report on Thursday, April 10th. Jefferies Financial Group boosted their target price on Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Raymond James restated an “outperform” rating and set a $250.00 price objective (up previously from $240.00) on shares of Marsh & McLennan Companies in a report on Thursday, February 6th. UBS Group increased their target price on shares of Marsh & McLennan Companies from $259.00 to $261.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Marsh & McLennan Companies from $220.00 to $215.00 and set an “underperform” rating for the company in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus target price of $241.93.

Marsh & McLennan Companies Price Performance

NYSE:MMC opened at $226.79 on Monday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $111.75 billion, a price-to-earnings ratio of 27.69, a P/E/G ratio of 2.70 and a beta of 0.85. Marsh & McLennan Companies, Inc. has a 52 week low of $201.77 and a 52 week high of $248.00. The firm’s 50-day simple moving average is $230.14 and its 200 day simple moving average is $224.68.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.04. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.08 billion. During the same quarter in the previous year, the firm earned $2.89 earnings per share. As a group, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 3rd will be paid a $0.815 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.44%. Marsh & McLennan Companies’s payout ratio is currently 39.95%.

Marsh & McLennan Companies 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.