CIBC Asset Management Inc Sells 4,500 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

CIBC Asset Management Inc decreased its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,337 shares of the financial services provider’s stock after selling 4,500 shares during the period. CIBC Asset Management Inc’s holdings in Marsh & McLennan Companies were worth $19,457,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Resonant Capital Advisors LLC purchased a new stake in Marsh & McLennan Companies during the second quarter valued at $234,000. Natixis Advisors LLC raised its position in shares of Marsh & McLennan Companies by 10.8% during the 2nd quarter. Natixis Advisors LLC now owns 714,362 shares of the financial services provider’s stock valued at $150,530,000 after buying an additional 69,745 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in shares of Marsh & McLennan Companies by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 49 shares during the last quarter. Ritholtz Wealth Management grew its position in Marsh & McLennan Companies by 0.6% in the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock worth $1,887,000 after acquiring an additional 51 shares in the last quarter. Finally, Waldron Private Wealth LLC raised its position in Marsh & McLennan Companies by 2.8% during the second quarter. Waldron Private Wealth LLC now owns 3,193 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 87 shares during the period. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, SVP Paul Beswick sold 2,169 shares of the business’s stock in a transaction 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 directly owns 11,861 shares in the company, valued at $2,609,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Marsh & McLennan Companies news, SVP Paul Beswick sold 2,169 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $477,180.00. Following the completion of the transaction, the senior vice president now owns 11,861 shares in the company, valued at $2,609,420. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Oscar Fanjul sold 6,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $209.01, for a total value of $1,254,060.00. Following the completion of the transaction, the director now directly owns 53,393 shares of the company’s stock, valued at approximately $11,159,670.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,735 shares of company stock worth $6,151,377. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

MMC has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upped their price target on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Roth Mkm raised their price objective on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Bank of America increased their price target on Marsh & McLennan Companies from $223.00 to $233.00 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $214.25.

Marsh & McLennan Companies Stock Up 0.2 %

Shares of Marsh & McLennan Companies stock opened at $227.51 on Tuesday. Marsh & McLennan Companies, Inc. has a 52-week low of $184.02 and a 52-week high of $228.47. The firm’s 50 day moving average price is $218.94 and its 200-day moving average price is $209.84. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.91. The company has a market cap of $112.10 billion, a P/E ratio of 28.87, a PEG ratio of 3.17 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 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.01. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter last year, the company earned $2.20 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 8.74 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were issued a $0.815 dividend. This represents a $3.26 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, July 25th. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.71. Marsh & McLennan Companies’s dividend payout ratio is 41.37%.

Marsh & McLennan Companies Profile

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.