Citigroup Inc. Sells 87,202 Shares of Marsh & McLennan Companies, Inc. $MMC

Citigroup Inc. cut its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 15.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 487,792 shares of the financial services provider’s stock after selling 87,202 shares during the period. Citigroup Inc.’s holdings in Marsh & McLennan Companies were worth $106,651,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MMC. Jennison Associates LLC lifted its position in Marsh & McLennan Companies by 225.1% in the 2nd quarter. Jennison Associates LLC now owns 1,051,055 shares of the financial services provider’s stock valued at $229,803,000 after acquiring an additional 727,714 shares in the last quarter. LPL Financial LLC raised its stake in shares of Marsh & McLennan Companies by 9.9% in the 1st quarter. LPL Financial LLC now owns 324,035 shares of the financial services provider’s stock valued at $78,662,000 after purchasing an additional 29,247 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Marsh & McLennan Companies by 18.7% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 218,131 shares of the financial services provider’s stock valued at $47,692,000 after purchasing an additional 34,400 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Marsh & McLennan Companies by 48,212.9% during the second quarter. Valeo Financial Advisors LLC now owns 2,629,187 shares of the financial services provider’s stock worth $574,845,000 after buying an additional 2,623,745 shares during the period. Finally, Shell Asset Management Co. grew its holdings in shares of Marsh & McLennan Companies by 48.6% during the second quarter. Shell Asset Management Co. now owns 8,577 shares of the financial services provider’s stock worth $1,875,000 after buying an additional 2,806 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Stock Performance

NYSE MMC opened at $180.26 on Wednesday. The firm has a market capitalization of $88.31 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 2.25 and a beta of 0.78. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19. The firm’s fifty day moving average price is $192.27 and its two-hundred day moving average price is $207.18. Marsh & McLennan Companies, Inc. has a 1 year low of $174.18 and a 1 year high of $248.00.

Marsh & McLennan Companies (NYSE:MMC) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same period in the previous year, the business earned $1.63 EPS. Marsh & McLennan Companies’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Thursday, October 2nd were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, October 2nd. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 43.17%.

Insider Activity at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total transaction of $4,334,896.35. Following the transaction, the chief executive officer directly owned 87,681 shares of the company’s stock, valued at approximately $18,031,597.65. The trade was a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. raised Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $248.00 to $242.00 in a research report on Thursday, October 9th. The Goldman Sachs Group raised shares of Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and decreased their target price for the company from $200.00 to $195.00 in a research report on Monday, October 20th. Cantor Fitzgerald started coverage on shares of Marsh & McLennan Companies in a research report on Wednesday, August 13th. They set an “overweight” rating and a $256.00 price target on the stock. Evercore ISI decreased their price objective on Marsh & McLennan Companies from $243.00 to $237.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Finally, Barclays dropped their target price on Marsh & McLennan Companies from $233.00 to $221.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Marsh & McLennan Companies has an average rating of “Hold” and a consensus price target of $228.63.

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.