Profund Advisors LLC Reduces Stock Holdings in Marsh & McLennan Companies, Inc. $MMC

Profund Advisors LLC lessened its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 10.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,131 shares of the financial services provider’s stock after selling 710 shares during the quarter. Profund Advisors LLC’s holdings in Marsh & McLennan Companies were worth $1,340,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Marsh & McLennan Companies by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,321,445 shares of the financial services provider’s stock valued at $11,059,792,000 after acquiring an additional 581,930 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Marsh & McLennan Companies by 54.2% in the 1st quarter. Wellington Management Group LLP now owns 12,814,788 shares of the financial services provider’s stock valued at $3,127,193,000 after purchasing an additional 4,505,548 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Marsh & McLennan Companies by 8.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,345,211 shares of the financial services provider’s stock valued at $1,060,362,000 after purchasing an additional 340,907 shares during the period. Nuveen LLC purchased a new position in Marsh & McLennan Companies during the 1st quarter worth approximately $1,038,594,000. Finally, Charles Schwab Investment Management Inc. increased its position in Marsh & McLennan Companies by 2.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,858,136 shares of the financial services provider’s stock worth $697,471,000 after buying an additional 65,778 shares during the period. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Stock Down 1.2%

Shares of NYSE:MMC opened at $177.89 on Tuesday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $174.18 and a fifty-two week high of $248.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.19. The firm’s 50-day simple moving average is $194.94 and its 200-day simple moving average is $208.92. The company has a market cap of $87.15 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.25 and a beta of 0.78.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data 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. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter last year, the firm earned $1.63 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 dividend on an annualized basis and a dividend yield of 2.0%. Marsh & McLennan Companies’s payout ratio is 43.17%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MMC. JPMorgan Chase & Co. upgraded shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $248.00 to $242.00 in a research report on Thursday, October 9th. Wolfe Research assumed coverage on shares of Marsh & McLennan Companies in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. TD Cowen reduced their target price on shares of Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a report on Monday, November 3rd. Citigroup assumed coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They set a “neutral” rating and a $226.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Marsh & McLennan Companies presently has an average rating of “Hold” and an average price target of $228.63.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was 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 of the company’s stock, valued at approximately $18,031,597.65. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Company 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.