Marsh & McLennan Companies, Inc. $MMC Stock Position Cut by DAVENPORT & Co LLC

DAVENPORT & Co LLC trimmed its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,837 shares of the financial services provider’s stock after selling 4,168 shares during the quarter. DAVENPORT & Co LLC’s holdings in Marsh & McLennan Companies were worth $19,919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MMC. Activest Wealth Management raised its holdings in Marsh & McLennan Companies by 2,775.0% during the first quarter. Activest Wealth Management now owns 115 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Marsh & McLennan Companies in the 2nd quarter worth $29,000. Westside Investment Management Inc. lifted its holdings in shares of 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 buying an additional 109 shares during the period. Delos Wealth Advisors LLC bought a new position in Marsh & McLennan Companies during the second quarter valued at about $32,000. Finally, Access Investment Management LLC bought a new stake in Marsh & McLennan Companies in the second quarter worth about $39,000. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Trading Up 0.5%

Marsh & McLennan Companies stock opened at $186.77 on Thursday. Marsh & McLennan Companies, Inc. has a 52 week low of $174.18 and a 52 week high of $248.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $91.50 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 3.19 and a beta of 0.75. The company has a 50 day moving average price of $183.09 and a 200 day moving average price of $198.96.

Marsh & McLennan Companies (NYSE:MMC) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. Marsh & McLennan Companies had a return on equity of 31.79% and a net margin of 15.60%.The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies 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 transaction, the chief executive officer owned 87,681 shares of the company’s stock, valued at $15,977,231.82. The trade was a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MMC shares. Wolfe Research started coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. The Goldman Sachs Group upgraded shares of Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $200.00 to $195.00 in a report on Monday, October 20th. Royal Bank Of Canada initiated coverage on Marsh & McLennan Companies in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $200.00 price target on the stock. Keefe, Bruyette & Woods raised Marsh & McLennan Companies from an “underperform” rating to a “market perform” rating and reduced their price objective for the stock from $209.00 to $191.00 in a research note on Friday, October 17th. Finally, Mizuho started coverage on Marsh & McLennan Companies in a research report on Tuesday, December 16th. They set an “outperform” rating and a $212.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus price target of $222.35.

Marsh & McLennan Companies 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.