Essex Financial Services Inc. Decreases Stock Position in Marsh & McLennan Companies, Inc. $MMC

Essex Financial Services Inc. cut its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 44.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,574 shares of the financial services provider’s stock after selling 2,874 shares during the quarter. Essex Financial Services Inc.’s holdings in Marsh & McLennan Companies were worth $720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Rockland Trust Co. raised its holdings in Marsh & McLennan Companies by 801.6% in the third quarter. Rockland Trust Co. now owns 12,073 shares of the financial services provider’s stock worth $2,433,000 after buying an additional 10,734 shares during the last quarter. Jennison Associates LLC raised its holdings in Marsh & McLennan Companies by 225.1% in the 2nd quarter. Jennison Associates LLC now owns 1,051,055 shares of the financial services provider’s stock worth $229,803,000 after acquiring an additional 727,714 shares during the last quarter. Vanguard Group Inc. lifted its position in Marsh & McLennan Companies by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock valued at $10,092,108,000 after acquiring an additional 837,117 shares in the last quarter. Navera Investment Management Ltd. boosted its stake in Marsh & McLennan Companies by 7.0% during the 3rd quarter. Navera Investment Management Ltd. now owns 1,623,960 shares of the financial services provider’s stock valued at $327,303,000 after purchasing an additional 105,954 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Marsh & McLennan Companies by 18.7% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 218,131 shares of the financial services provider’s stock worth $47,692,000 after purchasing an additional 34,400 shares during the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $182.22, for a total value 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 represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Marsh & McLennan Companies Trading Down 1.7%

Shares of Marsh & McLennan Companies stock opened at $182.39 on Friday. Marsh & McLennan Companies, Inc. has a 1-year low of $174.18 and a 1-year high of $248.00. The company’s fifty day simple moving average is $183.97 and its 200-day simple moving average is $190.69. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $89.35 billion, a PE ratio of 21.87, a P/E/G ratio of 2.87 and a beta of 0.76.

Marsh & McLennan Companies Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company reduced their price objective on Marsh & McLennan Companies from $212.00 to $199.00 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. Barclays lifted their price target on shares of Marsh & McLennan Companies from $206.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Mizuho initiated coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, December 16th. They set an “outperform” rating and a $212.00 price objective on the stock. Cantor Fitzgerald cut their target price on shares of Marsh & McLennan Companies from $226.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Finally, Citigroup lowered their price target on Marsh & McLennan Companies from $211.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, December 4th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $216.88.

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.