DAVENPORT & Co LLC Sells 4,168 Shares of Marsh & McLennan Companies, Inc. $MMC

DAVENPORT & Co LLC decreased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,837 shares of the financial services provider’s stock after selling 4,168 shares during the quarter. DAVENPORT & Co LLC’s holdings in Marsh & McLennan Companies were worth $19,919,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Marsh & McLennan Companies by 1.8% in the second quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock worth $10,092,108,000 after buying an additional 837,117 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Marsh & McLennan Companies by 1.6% during the second quarter. Geode Capital Management LLC now owns 12,684,210 shares of the financial services provider’s stock valued at $2,762,513,000 after purchasing an additional 196,475 shares during the period. Norges Bank acquired a new position in shares of Marsh & McLennan Companies in the 2nd quarter valued at $1,328,587,000. Goldman Sachs Group Inc. lifted its stake in Marsh & McLennan Companies by 8.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,345,211 shares of the financial services provider’s stock worth $1,060,362,000 after purchasing an additional 340,907 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in Marsh & McLennan Companies by 0.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,443,454 shares of the financial services provider’s stock valued at $752,877,000 after buying an additional 32,118 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO John Q. Doyle sold 21,079 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $182.22, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

Marsh & McLennan Companies Trading Up 0.5%

NYSE:MMC opened at $186.77 on Thursday. The company has a market cap of $91.50 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 3.19 and a beta of 0.75. Marsh & McLennan Companies, Inc. has a twelve month low of $174.18 and a twelve month high of $248.00. The business has a 50 day moving average price of $183.09 and a two-hundred day moving average price of $198.96. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.07. Marsh & McLennan Companies had a net margin of 15.60% and a return on equity of 31.79%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the previous year, the firm posted $1.63 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on MMC. Wells Fargo & Company reduced their price target on shares of Marsh & McLennan Companies from $222.00 to $212.00 and set an “equal weight” rating on the stock in a research report on Friday, October 17th. TD Cowen dropped their price objective on Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating for the company in a report on Monday, November 3rd. Wolfe Research began coverage on Marsh & McLennan Companies in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. UBS Group lowered their target price on shares of Marsh & McLennan Companies from $258.00 to $257.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Finally, Mizuho assumed coverage on Marsh & McLennan Companies in a report on Tuesday, December 16th. They set an “outperform” rating and a $212.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $222.35.

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.