Axxcess Wealth Management LLC Trims Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Axxcess Wealth Management LLC decreased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 0.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,541 shares of the financial services provider’s stock after selling 201 shares during the period. Axxcess Wealth Management LLC’s holdings in Marsh & McLennan Companies were worth $4,576,000 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. Oppenheimer & Co. Inc. grew its holdings in shares of Marsh & McLennan Companies by 2.3% during the third quarter. Oppenheimer & Co. Inc. now owns 5,526 shares of the financial services provider’s stock worth $1,233,000 after purchasing an additional 122 shares in the last quarter. Empowered Funds LLC grew its stake in Marsh & McLennan Companies by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 13,937 shares of the financial services provider’s stock worth $3,109,000 after buying an additional 717 shares in the last quarter. Claro Advisors LLC bought a new position in shares of Marsh & McLennan Companies in the 3rd quarter worth $292,000. Drive Wealth Management LLC raised its position in shares of Marsh & McLennan Companies by 4.3% during the 3rd quarter. Drive Wealth Management LLC now owns 1,441 shares of the financial services provider’s stock valued at $321,000 after buying an additional 59 shares in the last quarter. Finally, OneAscent Wealth Management LLC purchased a new position in Marsh & McLennan Companies in the third quarter worth $252,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Trading Down 0.4 %

NYSE MMC opened at $232.01 on Wednesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.17 and a fifty-two week high of $241.84. The stock has a market cap of $113.95 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 2.70 and a beta of 0.95. The stock has a 50 day simple moving average of $225.78 and a two-hundred day simple moving average of $223.66.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.12. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. On average, analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 3rd will be given a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Thursday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio is currently 39.80%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MMC shares. JPMorgan Chase & Co. lifted their price target on Marsh & McLennan Companies from $230.00 to $235.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Barclays boosted their target price on Marsh & McLennan Companies from $236.00 to $246.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada raised shares of Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $242.00 to $250.00 in a research note on Thursday, December 12th. Keefe, Bruyette & Woods cut their price objective on shares of Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating for the company in a research note on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $250.00 price target (up from $240.00) on shares of Marsh & McLennan Companies in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $230.44.

Insider Buying and Selling

In related news, VP Stacy Mills sold 1,317 shares of Marsh & McLennan Companies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $234.97, for a total transaction of $309,455.49. Following the completion of the transaction, the vice president now directly owns 2,923 shares of the company’s stock, valued at $686,817.31. This trade represents a 31.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas Mark Studer sold 49,390 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $230.16, for a total transaction of $11,367,602.40. Following the completion of the sale, the chief executive officer now owns 28,329 shares in the company, valued at approximately $6,520,202.64. This trade represents a 63.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,828 shares of company stock valued at $13,350,279 over the last three months. Corporate insiders own 0.30% of the company’s stock.

About Marsh & McLennan Companies

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.