Erste Asset Management GmbH Sells 400,026 Shares of Marsh & McLennan Companies, Inc. $MMC

Erste Asset Management GmbH lowered its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 93.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,366 shares of the financial services provider’s stock after selling 400,026 shares during the period. Erste Asset Management GmbH’s holdings in Marsh & McLennan Companies were worth $5,678,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MMC. Pinnacle Bancorp Inc. bought a new position in shares of Marsh & McLennan Companies in the third quarter worth about $25,000. Headlands Technologies LLC bought a new stake in shares of Marsh & McLennan Companies during the 2nd quarter valued at approximately $29,000. Westside Investment Management Inc. lifted its stake in Marsh & McLennan Companies by 363.3% in the 2nd quarter. Westside Investment Management Inc. now owns 139 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 109 shares during the last quarter. Delos Wealth Advisors LLC acquired a new stake in Marsh & McLennan Companies in the second quarter valued at approximately $32,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Marsh & McLennan Companies during the third quarter worth $32,000. Institutional investors own 87.99% of the company’s stock.

Insider Buying and Selling

In other news, CEO John Q. Doyle sold 21,079 shares of the firm’s stock in a transaction on 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 $15,977,231.82. This trade represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

MMC has been the subject of a number of research reports. TD Cowen dropped their price target on Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a research note on Monday, November 3rd. Evercore cut their price target on Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 7th. Wells Fargo & Company lowered their price objective on Marsh & McLennan Companies from $212.00 to $199.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. JPMorgan Chase & Co. dropped 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. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Marsh & McLennan Companies from $191.00 to $205.00 and gave the stock a “market perform” rating in a report on Tuesday, January 6th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has an average rating of “Hold” and a consensus price target of $216.88.

Marsh & McLennan Companies Price Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12. The business has a 50 day moving average of $183.51 and a 200 day moving average of $189.75. The firm has a market capitalization of $89.35 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 2.87 and a beta of 0.76. Marsh & McLennan Companies, Inc. has a 12 month low of $174.18 and a 12 month high of $248.00.

Marsh & McLennan Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Thursday, January 29th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, January 29th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 43.17%.

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.