Gabelli Funds LLC Has $16.31 Million Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Gabelli Funds LLC lowered its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,400 shares of the financial services provider’s stock after selling 4,200 shares during the period. Gabelli Funds LLC’s holdings in Marsh & McLennan Companies were worth $16,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MMC. Epoch Investment Partners Inc. grew its position in Marsh & McLennan Companies by 7.7% during the second quarter. Epoch Investment Partners Inc. now owns 584,445 shares of the financial services provider’s stock worth $123,154,000 after buying an additional 41,637 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its position in shares of Marsh & McLennan Companies by 332.1% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 4,757 shares of the financial services provider’s stock valued at $1,002,000 after acquiring an additional 3,656 shares during the period. Frank Rimerman Advisors LLC grew its holdings in shares of Marsh & McLennan Companies by 11,675.9% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 3,415 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 3,386 shares in the last quarter. ProShare Advisors LLC raised its stake in Marsh & McLennan Companies by 4.9% in the second quarter. ProShare Advisors LLC now owns 100,846 shares of the financial services provider’s stock valued at $21,250,000 after purchasing an additional 4,735 shares in the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in Marsh & McLennan Companies by 2.3% during the second quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MMC. JPMorgan Chase & Co. boosted their target price on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Royal Bank of Canada boosted their price objective on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. Barclays initiated coverage on Marsh & McLennan Companies in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 price target on the stock. Finally, Roth Mkm raised their price objective on Marsh & McLennan Companies from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $215.53.

Insider Activity at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, SVP Paul Beswick sold 2,169 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $477,180.00. Following the completion of the transaction, the senior vice president now owns 11,861 shares in the company, valued at approximately $2,609,420. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Marsh & McLennan Companies news, CFO Mark C. Mcgivney sold 5,200 shares of Marsh & McLennan Companies stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $225.03, for a total value of $1,170,156.00. Following the completion of the sale, the chief financial officer now directly owns 33,678 shares in the company, valued at $7,578,560.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Paul Beswick sold 2,169 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $477,180.00. Following the transaction, the senior vice president now owns 11,861 shares in the company, valued at $2,609,420. The disclosure for this sale can be found here. Insiders have sold 21,735 shares of company stock worth $4,897,317 over the last ninety days. Insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Stock Down 0.5 %

Shares of NYSE MMC opened at $223.55 on Monday. The company has a 50 day simple moving average of $223.30 and a 200 day simple moving average of $212.43. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.17 and a quick ratio of 1.17. Marsh & McLennan Companies, Inc. has a 1 year low of $184.02 and a 1 year high of $232.32. The firm has a market cap of $110.15 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 3.20 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.01. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.31 billion. Marsh & McLennan Companies had a net margin of 16.97% and a return on equity of 33.92%. Marsh & McLennan Companies’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share. On average, research analysts forecast that Marsh & McLennan Companies, Inc. will post 8.74 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 4th will be given a dividend of $0.815 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.46%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 41.37%.

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.