Essex Financial Services Inc. Lowers Holdings in Marsh & McLennan Companies, Inc. $MMC

Essex Financial Services Inc. lowered its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 44.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,574 shares of the financial services provider’s stock after selling 2,874 shares during the quarter. Essex Financial Services Inc.’s holdings in Marsh & McLennan Companies were worth $720,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in Marsh & McLennan Companies by 51.2% in the 4th quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider’s stock worth $1,856,000 after purchasing an additional 2,960 shares in the last quarter. Bison Wealth LLC boosted its position in shares of Marsh & McLennan Companies by 39.6% during the 4th quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider’s stock valued at $651,000 after acquiring an additional 869 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Marsh & McLennan Companies by 4.6% in the second quarter. Chicago Partners Investment Group LLC now owns 1,783 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 79 shares in the last quarter. Stephens Inc. AR increased its position in Marsh & McLennan Companies by 2.0% in the second quarter. Stephens Inc. AR now owns 3,932 shares of the financial services provider’s stock worth $860,000 after purchasing an additional 77 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in Marsh & McLennan Companies by 7.7% during the second quarter. Cullen Frost Bankers Inc. now owns 5,709 shares of the financial services provider’s stock valued at $1,248,000 after purchasing an additional 409 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Trading Down 1.7%

NYSE MMC opened at $182.39 on Friday. The stock has a market cap of $89.35 billion, a PE ratio of 21.87, a PEG ratio of 2.87 and a beta of 0.76. Marsh & McLennan Companies, Inc. has a 12 month low of $174.18 and a 12 month high of $248.00. The company’s 50-day moving average price is $183.97 and its 200-day moving average price is $190.69. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19.

Marsh & McLennan Companies Announces Dividend

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

Insider Activity

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies 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 completion of the sale, the chief executive officer directly owned 87,681 shares of the company’s stock, valued at $15,977,231.82. The trade was a 19.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MMC. Cantor Fitzgerald reduced their target price on shares of Marsh & McLennan Companies from $226.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Mizuho assumed coverage on Marsh & McLennan Companies in a research note on Tuesday, December 16th. They set an “outperform” rating and a $212.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on Marsh & McLennan Companies from $191.00 to $205.00 and gave the company a “market perform” rating in a research note on Tuesday, January 6th. Bank of America reissued an “underperform” rating and set a $181.00 target price (down previously from $243.00) on shares of Marsh & McLennan Companies in a research report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marsh & McLennan Companies in a research note on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $216.88.

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.