Cibc World Market Inc. Buys 6,891 Shares of Marsh & McLennan Companies, Inc. $MMC

Cibc World Market Inc. raised its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 94.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 14,215 shares of the financial services provider’s stock after buying an additional 6,891 shares during the period. Cibc World Market Inc.’s holdings in Marsh & McLennan Companies were worth $2,865,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Rockland Trust Co. lifted its holdings in shares of Marsh & McLennan Companies by 801.6% during the 3rd quarter. Rockland Trust Co. now owns 12,073 shares of the financial services provider’s stock worth $2,433,000 after acquiring an additional 10,734 shares during the period. Jennison Associates LLC lifted its stake in Marsh & McLennan Companies by 225.1% during the second quarter. Jennison Associates LLC now owns 1,051,055 shares of the financial services provider’s stock worth $229,803,000 after purchasing an additional 727,714 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Marsh & McLennan Companies by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock valued at $10,092,108,000 after purchasing an additional 837,117 shares in the last quarter. Navera Investment Management Ltd. increased its stake in shares of Marsh & McLennan Companies by 7.0% in the 3rd quarter. Navera Investment Management Ltd. now owns 1,623,960 shares of the financial services provider’s stock valued at $327,303,000 after purchasing an additional 105,954 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Marsh & McLennan Companies by 18.7% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 218,131 shares of the financial services provider’s stock worth $47,692,000 after buying an additional 34,400 shares during the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MMC. Barclays lifted their price target on shares of Marsh & McLennan Companies from $206.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. TD Cowen decreased their target price on shares of Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating on the stock in a research note on Monday, November 3rd. Bank of America reiterated an “underperform” rating and issued a $181.00 price target (down from $243.00) on shares of Marsh & McLennan Companies in a research note on Monday, November 3rd. Wells Fargo & Company lowered their target price on Marsh & McLennan Companies from $212.00 to $199.00 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. Finally, Citigroup cut their price target on Marsh & McLennan Companies from $211.00 to $201.00 and set a “neutral” rating on the stock in a research note on Thursday, December 4th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $216.88.

Marsh & McLennan Companies Price Performance

Shares of MMC opened at $182.39 on Monday. The business has a 50-day moving average of $183.92 and a 200-day moving average of $191.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $89.35 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. Marsh & McLennan Companies, Inc. has a 1 year low of $174.18 and a 1 year high of $248.00.

Marsh & McLennan Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Thursday, January 29th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, January 29th. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio is 43.17%.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 21,079 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $182.22, for a total transaction of $3,841,015.38. Following the sale, the chief executive officer owned 87,681 shares of the company’s stock, valued at approximately $15,977,231.82. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by corporate insiders.

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.