Primecap Management Co. CA Lowers Position in Marsh & McLennan Companies, Inc. $MMC

Primecap Management Co. CA cut its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 7.2% in the third quarter, HoldingsChannel reports. The fund owned 1,821,016 shares of the financial services provider’s stock after selling 141,810 shares during the period. Primecap Management Co. CA’s holdings in Marsh & McLennan Companies were worth $366,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new stake in shares of Marsh & McLennan Companies in the third quarter worth about $25,000. Headlands Technologies LLC bought a new position in Marsh & McLennan Companies during the second quarter valued at approximately $29,000. Westside Investment Management Inc. increased its stake in Marsh & McLennan Companies by 363.3% in the 2nd quarter. Westside Investment Management Inc. now owns 139 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 109 shares during the last quarter. Delos Wealth Advisors LLC purchased a new stake in shares of Marsh & McLennan Companies during the 2nd quarter worth approximately $32,000. Finally, TruNorth Capital Management LLC bought a new position in shares of Marsh & McLennan Companies during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Trading Down 1.7%

MMC opened at $182.39 on Thursday. Marsh & McLennan Companies, Inc. has a one year low of $174.18 and a one year 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 stock has a market cap of $89.35 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 2.87 and a beta of 0.76. The stock’s 50 day moving average price is $183.62 and its 200-day moving average price is $190.06.

Marsh & McLennan Companies Dividend Announcement

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

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the firm’s stock in a transaction on 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 directly owned 87,681 shares in the company, valued at $15,977,231.82. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MMC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marsh & McLennan Companies in a research note on Friday, October 31st. Barclays boosted their target price on shares of Marsh & McLennan Companies from $206.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Keefe, Bruyette & Woods increased their price target on shares of Marsh & McLennan Companies from $191.00 to $205.00 and gave the company a “market perform” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. reduced their price objective on Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Finally, Citigroup lowered their price objective on Marsh & McLennan Companies from $211.00 to $201.00 and set a “neutral” rating for the company in a research note on Thursday, December 4th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $216.88.

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.