Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 142,445 shares of the financial services provider’s stock after selling 5,004 shares during the period. Corebridge Financial Inc.’s holdings in Marsh & McLennan Companies were worth $30,257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Congress Wealth Management LLC DE increased its position in Marsh & McLennan Companies by 145.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 8,688 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 5,142 shares during the period. Vanguard Group Inc. raised its holdings in Marsh & McLennan Companies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 44,739,515 shares of the financial services provider’s stock worth $9,503,120,000 after purchasing an additional 356,618 shares during the last quarter. Napatree Capital LLC boosted its position in Marsh & McLennan Companies by 3.7% during the fourth quarter. Napatree Capital LLC now owns 3,738 shares of the financial services provider’s stock worth $794,000 after purchasing an additional 135 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of Marsh & McLennan Companies during the 4th quarter worth $1,054,000. Finally, LPL Financial LLC lifted its holdings in shares of Marsh & McLennan Companies by 23.6% in the fourth quarter. LPL Financial LLC now owns 294,788 shares of the financial services provider’s stock valued at $62,669,000 after purchasing an additional 56,295 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Down 0.6 %

Shares of NYSE:MMC opened at $232.05 on Monday. The company has a 50 day moving average of $227.10 and a two-hundred day moving average of $223.74. Marsh & McLennan Companies, Inc. has a 52-week low of $196.17 and a 52-week high of $241.84. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $113.97 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 2.70 and a beta of 0.95.

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

Marsh & McLennan Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.815 per share. The ex-dividend date is Thursday, April 3rd. This represents a $3.26 dividend on an annualized basis and a yield of 1.40%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 39.80%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MMC shares. Royal Bank of Canada raised Marsh & McLennan Companies from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $242.00 to $250.00 in a research report on Thursday, December 12th. Keefe, Bruyette & Woods cut their target price 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. Wells Fargo & Company raised their price target on shares of Marsh & McLennan Companies from $212.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Raymond James reissued an “outperform” rating and issued a $250.00 price objective (up previously from $240.00) on shares of Marsh & McLennan Companies in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Marsh & McLennan Companies from $230.00 to $235.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus price target of $230.44.

Insider Buying and Selling at Marsh & McLennan Companies

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

Marsh & McLennan Companies Company Profile

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.