CIBC Asset Management Inc Has $21.60 Million Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

CIBC Asset Management Inc increased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,867 shares of the financial services provider's stock after acquiring an additional 4,530 shares during the quarter. CIBC Asset Management Inc's holdings in Marsh & McLennan Companies were worth $21,600,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Marsh & McLennan Companies during the 1st quarter worth about $27,000. Carmichael Hill & Associates Inc. grew its position in shares of Marsh & McLennan Companies by 85.7% in the third quarter. Carmichael Hill & Associates Inc. now owns 130 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 60 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Marsh & McLennan Companies during the 3rd quarter worth approximately $31,000. Crewe Advisors LLC boosted its stake in Marsh & McLennan Companies by 100.0% in the 2nd quarter. Crewe Advisors LLC now owns 160 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 80 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Marsh & McLennan Companies during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 87.99% of the company's stock.

Insiders Place Their Bets

In other news, Director Oscar Fanjul sold 2,500 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total value of $553,875.00. Following the transaction, the director now directly owns 48,549 shares of the company's stock, valued at $10,756,030.95. The trade was a 4.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.30% of the company's stock.

Marsh & McLennan Companies Trading Up 0.3 %

NYSE MMC traded up $0.64 during trading hours on Friday, reaching $222.14. The company's stock had a trading volume of 1,930,186 shares, compared to its average volume of 1,689,079. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. Marsh & McLennan Companies, Inc. has a 52 week low of $184.28 and a 52 week high of $232.32. The firm has a fifty day simple moving average of $224.31 and a 200-day simple moving average of $217.89. The stock has a market cap of $109.10 billion, a P/E ratio of 27.36, a P/E/G ratio of 3.36 and a beta of 0.94.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.02. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.71 billion. Marsh & McLennan Companies had a return on equity of 32.65% and a net margin of 16.82%. Marsh & McLennan Companies's quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.57 earnings per share. Equities analysts forecast that Marsh & McLennan Companies, Inc. will post 8.7 earnings per share 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. Investors of record on Friday, October 4th were issued a $0.815 dividend. This represents a $3.26 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, October 4th. Marsh & McLennan Companies's payout ratio is presently 40.15%.

Wall Street Analyst Weigh In

Several research firms recently commented on MMC. Bank of America upped their price target on shares of Marsh & McLennan Companies from $248.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Wells Fargo & Company lowered their target price on shares of Marsh & McLennan Companies from $212.00 to $211.00 and set an "equal weight" rating on the stock in a report on Thursday, October 10th. Roth Mkm boosted their price target on Marsh & McLennan Companies from $220.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. The Goldman Sachs Group set a $220.00 price objective on Marsh & McLennan Companies and gave the company a "sell" rating in a report on Friday, October 18th. Finally, Jefferies Financial Group raised their price target on Marsh & McLennan Companies from $219.00 to $222.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Marsh & McLennan Companies currently has an average rating of "Hold" and an average target price of $225.33.

About Marsh & McLennan Companies

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.