Canada Pension Plan Investment Board Buys 8,570 Shares of Marsh & McLennan Companies, Inc. $MMC

Key Points

• Canada Pension Plan Investment Board increased its holdings in Marsh & McLennan Companies by 6.9%, owning a total of 132,155 shares valued at $32.25 million as per its latest SEC filing.
• The company declared a quarterly dividend of $0.90 per share, up from the previous dividend of $0.82, with an annualized rate of $3.60 and a dividend yield of 1.8%.
• Marsh & McLennan reported earnings of $2.72 per share for the quarter, exceeding estimates, alongside a year-over-year revenue increase of 12.1%, totaling $6.97 billion.

Canada Pension Plan Investment Board grew its position in Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 6.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 132,155 shares of the financial services provider's stock after purchasing an additional 8,570 shares during the period. Canada Pension Plan Investment Board's holdings in Marsh & McLennan Companies were worth $32,250,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Harbour Investments Inc. boosted its stake in shares of Marsh & McLennan Companies by 3.6% in the 1st quarter. Harbour Investments Inc. now owns 1,253 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 44 shares in the last quarter. Defined Wealth Management LLC boosted its stake in shares of Marsh & McLennan Companies by 1.5% in the 1st quarter. Defined Wealth Management LLC now owns 3,198 shares of the financial services provider's stock valued at $780,000 after purchasing an additional 47 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Marsh & McLennan Companies by 0.6% in the 1st quarter. IFP Advisors Inc now owns 7,479 shares of the financial services provider's stock valued at $1,825,000 after purchasing an additional 47 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Marsh & McLennan Companies by 1.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,517 shares of the financial services provider's stock valued at $1,102,000 after purchasing an additional 47 shares in the last quarter. Finally, E Fund Management Co. Ltd. raised its holdings in shares of Marsh & McLennan Companies by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 1,263 shares of the financial services provider's stock valued at $308,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 87.99% of the company's stock.

Marsh & McLennan Companies Trading Up 0.4%

NYSE:MMC traded up $0.90 on Thursday, hitting $206.17. 2,608,470 shares of the stock were exchanged, compared to its average volume of 2,257,635. The stock has a market capitalization of $101.35 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 2.58 and a beta of 0.81. Marsh & McLennan Companies, Inc. has a 52 week low of $196.27 and a 52 week high of $248.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.20 and a current ratio of 1.20. The company's 50-day moving average price is $208.60 and its 200 day moving average price is $221.79.

Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.06. The firm had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.92 billion. Marsh & McLennan Companies had a return on equity of 31.90% and a net margin of 16.00%.The company's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.41 EPS. On average, equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 24th were paid a $0.90 dividend. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Thursday, July 24th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.7%. Marsh & McLennan Companies's dividend payout ratio (DPR) is currently 43.17%.

Wall Street Analysts Forecast Growth

MMC has been the subject of a number of research analyst reports. Cantor Fitzgerald initiated coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued an "overweight" rating and a $256.00 price target for the company. Citigroup initiated coverage on Marsh & McLennan Companies in a report on Wednesday, August 13th. They issued a "neutral" rating and a $226.00 price target for the company. Morgan Stanley cut their price target on Marsh & McLennan Companies from $225.00 to $220.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Barclays cut their price target on Marsh & McLennan Companies from $249.00 to $233.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. Finally, Wells Fargo & Company cut their price target on Marsh & McLennan Companies from $229.00 to $226.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $238.76.

Insider Activity at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 21,079 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $205.65, for a total value of $4,334,896.35. Following the completion of the sale, the chief executive officer directly owned 87,681 shares of the company's stock, valued at $18,031,597.65. This represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

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.