Marsh & McLennan Companies, Inc. (NYSE:MMC) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. reduced its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 1.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,845 shares of the financial services provider’s stock after selling 228 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Marsh & McLennan Companies were worth $2,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in Marsh & McLennan Companies by 7,320.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,108,758 shares of the financial services provider’s stock valued at $235,511,000 after buying an additional 1,093,817 shares during the last quarter. FMR LLC raised its position in Marsh & McLennan Companies by 2.5% in the 3rd quarter. FMR LLC now owns 21,445,110 shares of the financial services provider’s stock valued at $4,784,190,000 after purchasing an additional 518,185 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Marsh & McLennan Companies by 127.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 899,716 shares of the financial services provider’s stock worth $200,718,000 after purchasing an additional 504,897 shares during the period. International Assets Investment Management LLC increased its stake in Marsh & McLennan Companies by 31,846.5% in the third quarter. International Assets Investment Management LLC now owns 427,764 shares of the financial services provider’s stock valued at $95,430,000 after purchasing an additional 426,425 shares during the period. Finally, Truist Financial Corp raised its holdings in shares of Marsh & McLennan Companies by 93.9% in the second quarter. Truist Financial Corp now owns 761,974 shares of the financial services provider’s stock valued at $160,563,000 after buying an additional 368,970 shares during the last quarter. 87.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Evercore ISI reaffirmed an “outperform” rating and set a $242.00 price objective on shares of Marsh & McLennan Companies in a research note on Monday, November 25th. JPMorgan Chase & Co. lifted their price objective on shares of Marsh & McLennan Companies from $230.00 to $235.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. The Goldman Sachs Group set a $220.00 target price on shares of Marsh & McLennan Companies and gave the company a “sell” rating in a report on Friday, October 18th. Barclays lifted their price target on Marsh & McLennan Companies from $236.00 to $246.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets raised their target price on Marsh & McLennan Companies from $217.00 to $228.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $228.60.

Marsh & McLennan Companies Stock Down 1.3 %

MMC opened at $220.84 on Wednesday. The business’s fifty day simple moving average is $218.00 and its 200 day simple moving average is $221.40. Marsh & McLennan Companies, Inc. has a 52 week low of $189.90 and a 52 week high of $235.50. The firm has a market cap of $108.46 billion, a P/E ratio of 27.20, a PEG ratio of 2.27 and a beta of 0.96. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.89.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 30th will be given a dividend of $0.815 per share. The ex-dividend date is Thursday, January 30th. This represents a $3.26 dividend on an annualized basis and a yield of 1.48%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 40.15%.

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.