Phoenix Financial Ltd. Has $4.22 Million Holdings in Marsh & McLennan Companies, Inc. $MMC

Phoenix Financial Ltd. cut its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 51.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,921 shares of the financial services provider’s stock after selling 22,362 shares during the quarter. Phoenix Financial Ltd.’s holdings in Marsh & McLennan Companies were worth $4,216,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MMC. Stonegate Investment Group LLC grew its stake in Marsh & McLennan Companies by 0.6% during the third quarter. Stonegate Investment Group LLC now owns 24,250 shares of the financial services provider’s stock worth $4,887,000 after purchasing an additional 154 shares during the period. Paragon Private Wealth Management LLC acquired a new stake in shares of Marsh & McLennan Companies during the 3rd quarter worth approximately $238,000. Northstar Advisory Group LLC acquired a new position in shares of Marsh & McLennan Companies during the 3rd quarter valued at $537,000. Belpointe Asset Management LLC boosted its stake in Marsh & McLennan Companies by 85.1% during the third quarter. Belpointe Asset Management LLC now owns 8,674 shares of the financial services provider’s stock worth $1,748,000 after acquiring an additional 3,987 shares in the last quarter. Finally, Riverwater Partners LLC increased its stake in Marsh & McLennan Companies by 39.9% in the third quarter. Riverwater Partners LLC now owns 1,473 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 420 shares in the last quarter. 87.99% of the stock is owned by institutional investors.

Marsh & McLennan Companies Stock Down 1.7%

MMC opened at $182.39 on Wednesday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $174.18 and a fifty-two week high of $248.00. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12. The company’s 50-day moving average is $183.76 and its 200 day moving average is $193.47. The firm has a market capitalization of $89.35 billion, a P/E ratio of 21.87, a PEG ratio of 2.87 and a beta of 0.76.

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 29th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, January 29th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 43.17%.

Analysts Set New Price Targets

Several analysts have recently commented on MMC shares. Cantor Fitzgerald reduced their target price on Marsh & McLennan Companies from $226.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. TD Cowen decreased 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. Keefe, Bruyette & Woods lifted 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 research report on Tuesday, January 6th. The Goldman Sachs Group raised shares of Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $200.00 to $195.00 in a research note on Monday, October 20th. Finally, Wells Fargo & Company lowered their target price on shares of Marsh & McLennan Companies from $212.00 to $199.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 13th. Eight research 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’s stock. According to MarketBeat.com, Marsh & McLennan Companies has a consensus rating of “Hold” and a consensus price target of $218.82.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $182.22, for a total value of $3,841,015.38. Following the completion of the transaction, the chief executive officer owned 87,681 shares in the company, valued at $15,977,231.82. This represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.35% of the company’s stock.

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.