Marsh & McLennan Companies (MMC) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its stake in Marsh & McLennan Companies (NYSE:MMC) by 9.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 477,681 shares of the financial services provider’s stock after selling 50,319 shares during the period. Gabelli Funds LLC owned 0.09% of Marsh & McLennan Companies worth $39,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of Marsh & McLennan Companies by 155.0% during the first quarter. American Century Companies Inc. now owns 2,822,249 shares of the financial services provider’s stock worth $233,090,000 after buying an additional 1,715,497 shares during the period. Deutsche Bank AG boosted its stake in shares of Marsh & McLennan Companies by 71.6% during the fourth quarter. Deutsche Bank AG now owns 1,821,319 shares of the financial services provider’s stock worth $148,232,000 after buying an additional 760,213 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Marsh & McLennan Companies by 22.6% during the fourth quarter. OppenheimerFunds Inc. now owns 3,267,087 shares of the financial services provider’s stock worth $265,907,000 after buying an additional 602,244 shares during the period. PGGM Investments boosted its stake in shares of Marsh & McLennan Companies by 133.8% during the fourth quarter. PGGM Investments now owns 878,800 shares of the financial services provider’s stock worth $71,526,000 after buying an additional 502,900 shares during the period. Finally, Viking Global Investors LP acquired a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth about $39,335,000. Institutional investors own 85.16% of the company’s stock.

In other Marsh & McLennan Companies news, VP Stacy Mills sold 1,145 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $82.95, for a total value of $94,977.75. Following the completion of the transaction, the vice president now directly owns 2,923 shares of the company’s stock, valued at $242,462.85. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark C. Mcgivney sold 22,528 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $83.59, for a total transaction of $1,883,115.52. Following the completion of the transaction, the chief financial officer now directly owns 33,839 shares of the company’s stock, valued at $2,828,602.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 139,437 shares of company stock valued at $11,426,337. 1.16% of the stock is owned by insiders.

Shares of NYSE:MMC opened at $81.64 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market capitalization of $41.43 billion, a P/E ratio of 20.83, a PEG ratio of 1.49 and a beta of 0.97. Marsh & McLennan Companies has a 52 week low of $74.72 and a 52 week high of $86.54.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, April 26th. The financial services provider reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.08. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.87 billion. Marsh & McLennan Companies had a net margin of 11.11% and a return on equity of 29.38%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 earnings per share. sell-side analysts anticipate that Marsh & McLennan Companies will post 4.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Wednesday, July 11th will be given a $0.415 dividend. The ex-dividend date of this dividend is Tuesday, July 10th. This represents a $1.66 dividend on an annualized basis and a yield of 2.03%. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.38. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 38.27%.

Several brokerages have recently weighed in on MMC. Zacks Investment Research downgraded shares of Marsh & McLennan Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 4th. Barclays increased their target price on shares of Marsh & McLennan Companies from $93.00 to $103.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Citigroup decreased their target price on shares of Marsh & McLennan Companies from $96.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Finally, Wells Fargo & Co restated a “buy” rating and issued a $91.00 price objective on shares of Marsh & McLennan Companies in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Marsh & McLennan Companies has a consensus rating of “Hold” and a consensus price target of $90.00.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc, a professional services firm, provides advice and solutions in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services, and Consulting. 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, reinsurance broking, catastrophe and financial modeling, and related advisory services.

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Institutional Ownership by Quarter for Marsh & McLennan Companies (NYSE:MMC)

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