Connor Clark & Lunn Investment Management Ltd. Sells 90,293 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 49.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,157 shares of the financial services provider’s stock after selling 90,293 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Marsh & McLennan Companies were worth $20,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC grew its stake in shares of Marsh & McLennan Companies by 18.8% during the third quarter. Fortitude Family Office LLC now owns 285 shares of the financial services provider’s stock valued at $64,000 after buying an additional 45 shares during the last quarter. Kingfisher Capital LLC increased its stake in Marsh & McLennan Companies by 4.7% in the second quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 47 shares during the period. Drive Wealth Management LLC grew its holdings in Marsh & McLennan Companies by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 49 shares in the last quarter. Legacy Financial Advisors Inc. raised its holdings in shares of Marsh & McLennan Companies by 2.3% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 49 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of Marsh & McLennan Companies by 0.6% during the second quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock valued at $1,887,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Oscar Fanjul sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total transaction of $553,875.00. Following the completion of the sale, the director now directly owns 48,549 shares in the company, valued at approximately $10,756,030.95. The trade was a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MMC shares. UBS Group increased their target price on shares of Marsh & McLennan Companies from $255.00 to $259.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group set a $220.00 price objective on Marsh & McLennan Companies and gave the stock a “sell” rating in a research report on Friday, October 18th. BMO Capital Markets increased their price target on Marsh & McLennan Companies from $217.00 to $228.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada boosted their price target on Marsh & McLennan Companies from $232.00 to $242.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Finally, Roth Mkm increased their price objective on shares of Marsh & McLennan Companies from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $225.33.

Marsh & McLennan Companies Trading Up 0.6 %

MMC stock opened at $221.96 on Thursday. 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, Inc. has a 52-week low of $184.28 and a 52-week high of $232.32. The company’s 50-day simple moving average is $223.81 and its 200-day simple moving average is $218.49. The firm has a market cap of $109.01 billion, a P/E ratio of 27.34, a PEG ratio of 3.29 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the business earned $1.57 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. As a group, equities analysts forecast that Marsh & McLennan Companies, Inc. will post 8.69 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 4th were given a $0.815 dividend. The ex-dividend date was Friday, October 4th. This represents a $3.26 annualized dividend and a dividend yield of 1.47%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 40.15%.

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.