Chevy Chase Trust Holdings LLC Reduces Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Chevy Chase Trust Holdings LLC reduced its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,401 shares of the financial services provider’s stock after selling 5,337 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Marsh & McLennan Companies were worth $58,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. boosted its position in shares of Marsh & McLennan Companies by 4,991.4% in the second quarter. Assenagon Asset Management S.A. now owns 693,087 shares of the financial services provider’s stock valued at $146,047,000 after acquiring an additional 679,474 shares during the period. FMR LLC grew its position in Marsh & McLennan Companies by 2.5% during the third quarter. FMR LLC now owns 21,445,110 shares of the financial services provider’s stock worth $4,784,190,000 after buying an additional 518,185 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Marsh & McLennan Companies by 127.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 899,716 shares of the financial services provider’s stock worth $200,718,000 after acquiring an additional 504,897 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Marsh & McLennan Companies by 31,846.5% in the 3rd quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider’s stock valued at $95,430,000 after acquiring an additional 426,425 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of Marsh & McLennan Companies by 93.9% during the 2nd quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock valued at $160,563,000 after acquiring an additional 368,970 shares during the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Oscar Fanjul sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total value of $553,875.00. Following the sale, the director now owns 48,549 shares in the company, valued at $10,756,030.95. This represents a 4.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Marsh & McLennan Companies Stock Performance

NYSE:MMC opened at $233.04 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $224.26 and its 200 day simple moving average is $219.89. The stock has a market cap of $114.45 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 2.81 and a beta of 0.94. Marsh & McLennan Companies, Inc. has a twelve month low of $184.28 and a twelve month high of $235.50.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.02. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Marsh & McLennan Companies had a net margin of 16.82% and a return on equity of 32.65%. Marsh & McLennan Companies’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.57 earnings per share. As a group, research analysts predict that Marsh & McLennan Companies, Inc. will post 8.68 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were issued a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 40.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MMC shares. Roth Mkm increased their price target on shares of Marsh & McLennan Companies from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America increased their target price on Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Jefferies Financial Group increased their price objective on Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their target price on Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets increased their price target on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $227.60.

About Marsh & McLennan Companies

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 through Risk and Insurance Services, and Consulting segments. 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, strategic advisory services, and analytics solutions, and insurance program management services.