Truist Financial Corp Decreases Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Truist Financial Corp trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 62.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 474,784 shares of the financial services provider’s stock after selling 778,885 shares during the quarter. Truist Financial Corp owned 0.10% of Marsh & McLennan Companies worth $89,957,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MMC. FMR LLC raised its position in Marsh & McLennan Companies by 0.3% in the 3rd quarter. FMR LLC now owns 19,423,136 shares of the financial services provider’s stock worth $3,696,223,000 after purchasing an additional 61,408 shares during the period. Ameriprise Financial Inc. raised its position in Marsh & McLennan Companies by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,278,659 shares of the financial services provider’s stock worth $1,575,881,000 after purchasing an additional 31,821 shares during the period. Morgan Stanley grew its stake in Marsh & McLennan Companies by 2.5% in the 3rd quarter. Morgan Stanley now owns 6,145,046 shares of the financial services provider’s stock worth $1,169,403,000 after acquiring an additional 150,655 shares in the last quarter. Northern Trust Corp grew its stake in Marsh & McLennan Companies by 4.8% in the 3rd quarter. Northern Trust Corp now owns 5,979,821 shares of the financial services provider’s stock worth $1,137,960,000 after acquiring an additional 271,408 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Marsh & McLennan Companies by 2.6% in the 3rd quarter. California Public Employees Retirement System now owns 3,277,576 shares of the financial services provider’s stock worth $623,723,000 after acquiring an additional 83,785 shares in the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on MMC. Morgan Stanley increased their price objective on shares of Marsh & McLennan Companies from $205.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI increased their price objective on shares of Marsh & McLennan Companies from $212.00 to $218.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of Marsh & McLennan Companies from $190.00 to $198.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods raised their target price on shares of Marsh & McLennan Companies from $185.00 to $188.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada raised their price target on shares of Marsh & McLennan Companies from $208.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $207.69.

Marsh & McLennan Companies Price Performance

MMC traded down $3.52 on Friday, reaching $197.95. 1,783,604 shares of the company’s stock were exchanged, compared to its average volume of 1,810,961. The stock has a market cap of $97.53 billion, a PE ratio of 25.12, a P/E/G ratio of 3.36 and a beta of 0.90. Marsh & McLennan Companies, Inc. has a twelve month low of $171.47 and a twelve month high of $209.20. The stock’s fifty day moving average price is $203.10 and its 200-day moving average price is $197.13. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $2.89 EPS for the quarter, topping the consensus estimate of $2.80 by $0.09. Marsh & McLennan Companies had a net margin of 16.84% and a return on equity of 34.14%. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter in the previous year, the business posted $2.53 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 8.69 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 1.43%. The ex-dividend date of this dividend is Wednesday, April 3rd. Marsh & McLennan Companies’s payout ratio is 36.04%.

Insider Activity

In other news, CFO Mark C. Mcgivney sold 12,494 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $200.79, for a total value of $2,508,670.26. Following the completion of the transaction, the chief financial officer now owns 33,678 shares in the company, valued at approximately $6,762,205.62. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Mark C. Mcgivney sold 12,494 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $200.79, for a total transaction of $2,508,670.26. Following the completion of the sale, the chief financial officer now owns 33,678 shares in the company, valued at approximately $6,762,205.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dean Michael Klisura sold 9,994 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $205.00, for a total transaction of $2,048,770.00. Following the sale, the chief executive officer now owns 20,935 shares of the company’s stock, valued at approximately $4,291,675. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,751 shares of company stock worth $7,448,163. Corporate insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies 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.