ABC Arbitrage SA Invests $2.83 Million in Marsh & McLennan Companies, Inc. $MMC

ABC Arbitrage SA acquired a new stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,062 shares of the financial services provider’s stock, valued at approximately $2,834,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMC. Vanguard Group Inc. lifted 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 buying an additional 837,117 shares during the period. Geode Capital Management LLC lifted its holdings in Marsh & McLennan Companies by 1.6% in the second quarter. Geode Capital Management LLC now owns 12,684,210 shares of the financial services provider’s stock valued at $2,762,513,000 after acquiring an additional 196,475 shares during the period. Norges Bank acquired a new position in shares of Marsh & McLennan Companies during the 2nd quarter worth $1,328,587,000. Artisan Partners Limited Partnership increased its holdings in shares of Marsh & McLennan Companies by 0.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,443,454 shares of the financial services provider’s stock valued at $752,877,000 after purchasing an additional 32,118 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Marsh & McLennan Companies by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,901,598 shares of the financial services provider’s stock valued at $634,405,000 after purchasing an additional 43,462 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

NYSE:MMC opened at $182.39 on Wednesday. The firm has a market cap 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 12-month low of $174.18 and a 12-month high of $248.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.19. The company’s 50-day moving average is $183.95 and its two-hundred day moving average is $191.47.

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 29th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, January 29th. Marsh & McLennan Companies’s dividend payout ratio is currently 43.17%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Evercore lowered their target price on shares of Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 7th. Royal Bank Of Canada started coverage on Marsh & McLennan Companies in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $200.00 price objective for the company. TD Cowen decreased their target price on Marsh & McLennan Companies from $213.00 to $200.00 and set a “hold” rating on the stock in a research report on Monday, November 3rd. The Goldman Sachs Group raised Marsh & McLennan Companies from a “sell” rating to a “neutral” rating and lowered their target price for the company from $200.00 to $195.00 in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Marsh & McLennan Companies in a research report on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $216.88.

Insider Activity

In other news, CEO John Q. Doyle sold 21,079 shares of Marsh & McLennan Companies stock in a transaction on Monday, December 1st. The stock was sold at an average price of $182.22, for a total value of $3,841,015.38. Following the completion of the sale, the chief executive officer owned 87,681 shares of the company’s stock, valued at $15,977,231.82. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by company 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.