Close Asset Management Ltd Sells 166,226 Shares of Marsh & McLennan Companies, Inc. $MMC

Close Asset Management Ltd lowered its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 57.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,130 shares of the financial services provider’s stock after selling 166,226 shares during the quarter. Close Asset Management Ltd’s holdings in Marsh & McLennan Companies were worth $25,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new position in Marsh & McLennan Companies during the 3rd quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in Marsh & McLennan Companies in the second quarter valued at approximately $29,000. Westside Investment Management Inc. boosted its stake in Marsh & McLennan Companies by 363.3% in the second quarter. Westside Investment Management Inc. now owns 139 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 109 shares during the last quarter. Delos Wealth Advisors LLC bought a new stake in shares of Marsh & McLennan Companies during the 2nd quarter valued at $32,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Marsh & McLennan Companies in the 3rd quarter valued at $32,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Performance

Shares of MMC opened at $182.39 on Friday. The firm’s 50 day moving average price is $183.55 and its two-hundred day moving average price is $190.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12. Marsh & McLennan Companies, Inc. has a twelve month low of $174.18 and a twelve month high of $248.00. The firm has a market cap of $89.35 billion, a P/E ratio of 21.87, a PEG ratio of 2.87 and a beta of 0.76.

Marsh & McLennan Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Thursday, January 29th were issued 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 was Thursday, January 29th. Marsh & McLennan Companies’s payout ratio is 43.17%.

Analyst Ratings Changes

MMC has been the subject of a number of analyst reports. Mizuho assumed coverage on Marsh & McLennan Companies in a research note on Tuesday, December 16th. They set an “outperform” rating and a $212.00 price objective for the company. Royal Bank Of Canada started coverage on Marsh & McLennan Companies in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $200.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Wells Fargo & Company cut their target price on shares of Marsh & McLennan Companies from $212.00 to $199.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 13th. Finally, Citigroup decreased their price target on shares of Marsh & McLennan Companies from $211.00 to $201.00 and set a “neutral” rating for the company in a report on Thursday, December 4th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of “Hold” and an average target price of $216.88.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the completion of the transaction, the chief executive officer directly owned 87,681 shares in the company, valued at approximately $15,977,231.82. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.