Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC lowered its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 16.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,569,141 shares of the financial services provider’s stock after selling 705,739 shares during the quarter. Marsh & McLennan Companies comprises about 1.7% of Parnassus Investments LLC’s portfolio, making the stock its 20th biggest holding. Parnassus Investments LLC owned 0.73% of Marsh & McLennan Companies worth $758,121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Madison Investment Advisors LLC acquired a new stake in Marsh & McLennan Companies in the fourth quarter worth about $57,930,000. Impact Capital Partners LLC acquired a new stake in Marsh & McLennan Companies in the 4th quarter valued at about $1,639,000. Erste Asset Management GmbH lifted its holdings in Marsh & McLennan Companies by 3.5% in the 4th quarter. Erste Asset Management GmbH now owns 353,975 shares of the financial services provider’s stock valued at $75,331,000 after acquiring an additional 11,991 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Marsh & McLennan Companies by 82.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 168,493 shares of the financial services provider’s stock valued at $35,790,000 after acquiring an additional 76,336 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in Marsh & McLennan Companies by 5.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 28,788 shares of the financial services provider’s stock valued at $6,115,000 after acquiring an additional 1,612 shares during the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Down 0.0 %

Shares of Marsh & McLennan Companies stock opened at $229.73 on Friday. The stock has a market capitalization of $112.83 billion, a P/E ratio of 28.05, a PEG ratio of 2.70 and a beta of 0.95. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. The stock has a 50 day moving average price of $224.44 and a two-hundred day moving average price of $223.57. Marsh & McLennan Companies, Inc. has a 12-month low of $196.17 and a 12-month high of $241.84.

Marsh & McLennan Companies (NYSE:MMC) last announced its earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.12. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. Equities analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 3rd will be given a $0.815 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $3.26 annualized dividend and a dividend yield of 1.42%. Marsh & McLennan Companies’s dividend payout ratio is 39.80%.

Insider Buying and Selling

In related news, VP Stacy Mills sold 1,317 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $234.97, for a total value of $309,455.49. Following the completion of the transaction, the vice president now directly owns 2,923 shares of the company’s stock, valued at $686,817.31. This trade represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dean Michael Klisura sold 7,121 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $234.97, for a total value of $1,673,221.37. Following the completion of the transaction, the chief executive officer now directly owns 20,935 shares of the company’s stock, valued at approximately $4,919,096.95. This trade represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on MMC. Keefe, Bruyette & Woods cut their price objective on Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating on the stock in a report on Monday, February 3rd. Barclays boosted their price objective on Marsh & McLennan Companies from $236.00 to $246.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Raymond James restated an “outperform” rating and set a $250.00 price objective (up previously from $240.00) on shares of Marsh & McLennan Companies in a report on Thursday, February 6th. Wells Fargo & Company upped their target price on Marsh & McLennan Companies from $212.00 to $223.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, Evercore ISI reiterated an “outperform” rating and issued a $242.00 target price on shares of Marsh & McLennan Companies in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Marsh & McLennan Companies currently has an average rating of “Hold” and an average price target of $230.44.

Marsh & McLennan Companies Profile

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.