Summit Global Investments Sells 7,242 Shares of Marsh & McLennan Companies, Inc. $MMC

Summit Global Investments cut its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 38.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,425 shares of the financial services provider’s stock after selling 7,242 shares during the period. Summit Global Investments’ holdings in Marsh & McLennan Companies were worth $2,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Marsh & McLennan Companies by 51.2% during the fourth quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider’s stock valued at $1,856,000 after acquiring an additional 2,960 shares during the last quarter. Bison Wealth LLC lifted its stake in Marsh & McLennan Companies by 39.6% in the fourth quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider’s stock valued at $651,000 after buying an additional 869 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Marsh & McLennan Companies by 35.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 149,864 shares of the financial services provider’s stock valued at $32,766,000 after acquiring an additional 39,549 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in Marsh & McLennan Companies by 37.7% during the second quarter. Childress Capital Advisors LLC now owns 1,577 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 432 shares in the last quarter. Finally, SOA Wealth Advisors LLC. increased its stake in Marsh & McLennan Companies by 59.1% in the second quarter. SOA Wealth Advisors LLC. now owns 2,723 shares of the financial services provider’s stock valued at $595,000 after purchasing an additional 1,012 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Insider Activity

In other 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 transaction of $3,841,015.38. Following the transaction, the chief executive officer owned 87,681 shares of the company’s stock, valued at $15,977,231.82. This represents a 19.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by insiders.

Marsh & McLennan Companies Price Performance

MMC opened at $182.39 on Friday. 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 firm has a market cap 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, Inc. has a fifty-two week low of $174.18 and a fifty-two week high of $248.00. The firm has a 50-day moving average of $183.94 and a 200 day moving average of $193.32.

Marsh & McLennan Companies Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on MMC shares. Wells Fargo & Company dropped their price target on Marsh & McLennan Companies from $212.00 to $199.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 13th. Royal Bank Of Canada initiated coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $200.00 target price for the company. Mizuho began coverage on Marsh & McLennan Companies in a report on Tuesday, December 16th. They set an “outperform” rating and a $212.00 price objective for the company. Cantor Fitzgerald lowered their price target on Marsh & McLennan Companies from $226.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Finally, The Goldman Sachs Group upgraded shares of Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $200.00 to $195.00 in a research note on Monday, October 20th. Eight 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 company. According to data from MarketBeat, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus price target of $218.82.

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.