Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 82.8% in the 4th quarter, HoldingsChannel reports. The firm owned 168,493 shares of the financial services provider’s stock after acquiring an additional 76,336 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Marsh & McLennan Companies were worth $35,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MMC. Financial Life Planners purchased a new stake in Marsh & McLennan Companies in the 4th quarter worth $33,000. Sierra Ocean LLC purchased a new stake in Marsh & McLennan Companies in the 4th quarter worth $36,000. Albion Financial Group UT purchased a new stake in Marsh & McLennan Companies in the 4th quarter worth $38,000. Golden State Wealth Management LLC purchased a new position in shares of Marsh & McLennan Companies during the fourth quarter valued at about $41,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of Marsh & McLennan Companies during the fourth quarter valued at about $45,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MMC. JPMorgan Chase & Co. raised their price objective on Marsh & McLennan Companies from $230.00 to $235.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Barclays lifted their price target on Marsh & McLennan Companies from $236.00 to $246.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Evercore ISI reiterated an “outperform” rating and issued a $242.00 price target on shares of Marsh & McLennan Companies in a research report on Monday, November 25th. Keefe, Bruyette & Woods dropped their price target on Marsh & McLennan Companies from $214.00 to $210.00 and set an “underperform” rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lifted their price target on Marsh & McLennan Companies from $212.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $230.44.

Insider Buying and Selling

In related news, CEO Dean Michael Klisura sold 7,121 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $234.97, for a total value of $1,673,221.37. Following the completion of the transaction, the chief executive officer now owns 20,935 shares of the company’s stock, valued at $4,919,096.95. The trade was a 25.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Stacy Mills sold 1,317 shares of Marsh & McLennan Companies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $234.97, for a total transaction of $309,455.49. Following the completion of the transaction, the vice president now directly owns 2,923 shares in the company, valued at $686,817.31. This represents a 31.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Marsh & McLennan Companies Stock Performance

Marsh & McLennan Companies stock opened at $229.78 on Thursday. The company has a 50 day moving average price of $224.07 and a 200-day moving average price of $223.53. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.17 and a fifty-two week high of $241.84. The company has a market capitalization of $112.85 billion, a PE ratio of 28.06, a P/E/G ratio of 2.70 and a beta of 0.95.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.12. Marsh & McLennan Companies had a net margin of 16.60% and a return on equity of 32.60%. As a group, equities analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 3rd will be paid a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a yield of 1.42%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 39.80%.

About Marsh & McLennan Companies

Marsh & McLennan Cos., Inc is a professional services firm, which engages in offering clients advice and solutions in risk, strategy, and people. It operates through the Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services.