Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Evercore Wealth Management LLC

Evercore Wealth Management LLC decreased its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,779 shares of the financial services provider’s stock after selling 87 shares during the period. Evercore Wealth Management LLC’s holdings in Marsh & McLennan Companies were worth $1,070,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Marsh & McLennan Companies in the 4th quarter worth approximately $283,389,000. Stifel Financial Corp grew its stake in shares of Marsh & McLennan Companies by 984.7% in the 1st quarter. Stifel Financial Corp now owns 1,948,768 shares of the financial services provider’s stock worth $237,360,000 after purchasing an additional 1,769,108 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Marsh & McLennan Companies by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,053,215 shares of the financial services provider’s stock worth $3,867,186,000 after purchasing an additional 1,704,020 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Marsh & McLennan Companies by 65.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 3,358,169 shares of the financial services provider’s stock worth $392,906,000 after purchasing an additional 1,331,609 shares during the last quarter. Finally, Viking Global Investors LP acquired a new position in shares of Marsh & McLennan Companies in the 4th quarter worth approximately $154,507,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Scott Mcdonald sold 112,051 shares of the business’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $138.95, for a total value of $15,569,486.45. Following the sale, the chief executive officer now owns 75,699 shares in the company, valued at approximately $10,518,376.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.80% of the company’s stock.

Shares of MMC stock opened at $142.39 on Thursday. Marsh & McLennan Companies, Inc. has a 1 year low of $102.11 and a 1 year high of $144.09. The business’s fifty day moving average is $138.80. The company has a market capitalization of $72.41 billion, a price-to-earnings ratio of 32.51, a P/E/G ratio of 2.72 and a beta of 0.92. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.23 and a quick ratio of 1.23.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Monday, April 26th. The financial services provider reported $1.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.28. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.79 billion. Marsh & McLennan Companies had a net margin of 12.72% and a return on equity of 30.29%. Marsh & McLennan Companies’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 earnings per share. As a group, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 5.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 13th. Shareholders of record on Thursday, July 29th will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, July 28th. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.47. Marsh & McLennan Companies’s payout ratio is 37.42%.

Several research firms have recently weighed in on MMC. Citigroup lifted their target price on shares of Marsh & McLennan Companies from $125.00 to $130.00 in a research report on Wednesday, March 31st. UBS Group lifted their target price on shares of Marsh & McLennan Companies from $133.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, July 9th. Wells Fargo & Company lifted their target price on shares of Marsh & McLennan Companies from $133.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Friday, July 9th. Raymond James reissued a “market perform” rating on shares of Marsh & McLennan Companies in a research report on Wednesday, April 21st. Finally, Piper Sandler raised shares of Marsh & McLennan Companies from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $115.00 to $145.00 in a research report on Wednesday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $132.56.

Marsh & McLennan Companies Profile

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients 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 and reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services.

Featured Article: What Every Investor Needs to Understand About Secondary Public Offerings

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

Receive News & Ratings for Marsh & McLennan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marsh & McLennan Companies and related companies with MarketBeat.com's FREE daily email newsletter.