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

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 49.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,157 shares of the financial services provider's stock after selling 90,293 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Marsh & McLennan Companies were worth $20,559,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Marsh & McLennan Companies during the second quarter worth $3,710,000. Czech National Bank boosted its holdings in shares of Marsh & McLennan Companies by 6.7% in the third quarter. Czech National Bank now owns 100,175 shares of the financial services provider's stock valued at $22,348,000 after acquiring an additional 6,282 shares in the last quarter. Raymond James & Associates increased its stake in shares of Marsh & McLennan Companies by 2.6% during the second quarter. Raymond James & Associates now owns 925,411 shares of the financial services provider's stock worth $195,003,000 after acquiring an additional 23,133 shares during the period. Cetera Investment Advisers lifted its position in Marsh & McLennan Companies by 236.7% in the first quarter. Cetera Investment Advisers now owns 55,496 shares of the financial services provider's stock valued at $11,431,000 after purchasing an additional 39,013 shares during the period. Finally, Tidal Investments LLC increased its position in Marsh & McLennan Companies by 38.2% during the 1st quarter. Tidal Investments LLC now owns 23,307 shares of the financial services provider's stock worth $4,800,000 after purchasing an additional 6,443 shares during the period. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Price Performance

Shares of NYSE MMC traded up $0.20 during trading on Thursday, hitting $222.16. The company had a trading volume of 320,587 shares, compared to its average volume of 1,682,096. The company has a market cap of $109.11 billion, a P/E ratio of 27.28, a PEG ratio of 3.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.14 and a current ratio of 1.14. The business's 50-day moving average is $223.81 and its 200 day moving average is $218.49. Marsh & McLennan Companies, Inc. has a 52 week low of $184.28 and a 52 week high of $232.32.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $1.57 earnings per share. Equities research analysts predict that Marsh & McLennan Companies, Inc. will post 8.69 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 4th were paid a $0.815 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.26 dividend on an annualized basis and a yield of 1.47%. Marsh & McLennan Companies's payout ratio is presently 40.15%.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 2,500 shares of the firm's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $221.55, for a total value of $553,875.00. Following the sale, the director now directly owns 48,549 shares in the company, valued at $10,756,030.95. This trade represents a 4.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on MMC. The Goldman Sachs Group set a $220.00 target price on Marsh & McLennan Companies and gave the company a "sell" rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price objective on Marsh & McLennan Companies from $209.00 to $212.00 and gave the stock an "underperform" rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their target price on Marsh & McLennan Companies from $232.00 to $242.00 and gave the company a "sector perform" rating in a report on Friday, October 18th. Barclays boosted their price objective on shares of Marsh & McLennan Companies from $236.00 to $246.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Bank of America lifted their target price on shares of Marsh & McLennan Companies from $248.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $226.00.

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.