Wealth Management Associates Inc. Has $237,000 Stock Holdings in Marsh & McLennan Companies, Inc. $MMC

Wealth Management Associates Inc. cut its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 13.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,082 shares of the financial services provider’s stock after selling 162 shares during the period. Wealth Management Associates Inc.’s holdings in Marsh & McLennan Companies were worth $237,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC boosted its position in Marsh & McLennan Companies by 9.9% during the 1st quarter. LPL Financial LLC now owns 324,035 shares of the financial services provider’s stock worth $78,662,000 after buying an additional 29,247 shares during the period. Penserra Capital Management LLC lifted its position in shares of Marsh & McLennan Companies by 101.4% in the 1st quarter. Penserra Capital Management LLC now owns 7,136 shares of the financial services provider’s stock worth $1,741,000 after purchasing an additional 3,593 shares during the period. US Asset Management LLC lifted its position in shares of Marsh & McLennan Companies by 23.1% in the 1st quarter. US Asset Management LLC now owns 6,847 shares of the financial services provider’s stock worth $1,671,000 after purchasing an additional 1,284 shares during the period. Geneva Partners LLC acquired a new position in shares of Marsh & McLennan Companies in the 1st quarter worth approximately $4,673,000. Finally, Graybill Wealth Management LTD. acquired a new position in shares of Marsh & McLennan Companies in the 1st quarter worth approximately $1,477,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO John Q. Doyle sold 21,079 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $205.65, for a total value of $4,334,896.35. Following the completion of the sale, the chief executive officer owned 87,681 shares in the company, valued at $18,031,597.65. This represents a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

Marsh & McLennan Companies Stock Performance

Shares of MMC stock opened at $182.99 on Wednesday. The firm has a market capitalization of $89.65 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81. The firm has a fifty day simple moving average of $200.21 and a two-hundred day simple moving average of $211.92. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19. Marsh & McLennan Companies, Inc. has a 12 month low of $182.73 and a 12 month high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.34 billion. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. Marsh & McLennan Companies’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 EPS. Analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd will be paid a $0.90 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio is presently 43.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $226.00 price target on the stock. The Goldman Sachs Group upgraded shares of Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $200.00 to $195.00 in a research report on Monday, October 20th. UBS Group lowered their price objective on shares of Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Cantor Fitzgerald began coverage on shares of Marsh & McLennan Companies in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $256.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $248.00 to $242.00 in a research note on Thursday, October 9th. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Marsh & McLennan Companies has a consensus rating of “Hold” and an average price target of $234.07.

About Marsh & McLennan Companies

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.