Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 29.2% during the fourth quarter, Holdings Channel reports. The firm owned 32,733 shares of the financial services provider’s stock after selling 13,505 shares during the period. Illinois Municipal Retirement Fund’s holdings in Marsh & McLennan Companies were worth $6,202,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Valley National Advisers Inc. lifted its position in 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 acquiring an additional 103 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in Marsh & McLennan Companies during the third quarter worth approximately $27,000. OFI Invest Asset Management acquired a new stake in shares of Marsh & McLennan Companies in the third quarter valued at approximately $28,000. Headinvest LLC purchased a new position in shares of Marsh & McLennan Companies during the third quarter worth approximately $28,000. Finally, Cordant Inc. purchased a new stake in Marsh & McLennan Companies in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Up 0.2 %

MMC stock opened at $201.74 on Wednesday. Marsh & McLennan Companies, Inc. has a 52 week low of $171.47 and a 52 week high of $209.20. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The company has a market cap of $99.40 billion, a P/E ratio of 25.60, a P/E/G ratio of 3.38 and a beta of 0.90. The company’s 50-day moving average price is $203.07 and its 200 day moving average price is $197.04.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.09. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.38 billion. Marsh & McLennan Companies had a return on equity of 34.14% and a net margin of 16.84%. Marsh & McLennan Companies’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.53 earnings per share. On average, research analysts expect that Marsh & McLennan Companies, Inc. will post 8.64 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Wednesday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 36.04%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MMC shares. Keefe, Bruyette & Woods upped their target price on shares of Marsh & McLennan Companies from $185.00 to $188.00 and gave the company an “underperform” rating in a report on Wednesday, April 10th. Morgan Stanley increased their price objective on Marsh & McLennan Companies from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler lowered Marsh & McLennan Companies from an “overweight” rating to a “neutral” rating and set a $211.00 target price on the stock. in a report on Wednesday, April 17th. Royal Bank of Canada lifted their price objective on shares of Marsh & McLennan Companies from $208.00 to $210.00 and gave the company a “sector perform” rating in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Marsh & McLennan Companies from $190.00 to $198.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Marsh & McLennan Companies has an average rating of “Hold” and a consensus target price of $207.69.

Insider Transactions 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 value of $1,840,478.64. Following the sale, the chief executive officer now directly owns 9,979 shares in the company, valued at $2,012,065.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 12,494 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $200.79, for a total transaction of $2,508,670.26. Following the transaction, the chief financial officer now owns 33,678 shares of the company’s stock, valued at approximately $6,762,205.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Martine Ferland sold 9,128 shares of Marsh & McLennan Companies stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $201.63, for a total value of $1,840,478.64. Following the completion of the sale, the chief executive officer now directly owns 9,979 shares of the company’s stock, valued at approximately $2,012,065.77. The disclosure for this sale can be found here. Insiders sold a total of 36,751 shares of company stock valued at $7,448,163 in the last ninety days. Corporate insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Company 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.