TD Waterhouse Canada Inc. lifted its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,952 shares of the financial services provider's stock after acquiring an additional 8,246 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Marsh & McLennan Companies were worth $20,171,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of MMC. Norges Bank purchased a new stake in shares of Marsh & McLennan Companies in the 4th quarter worth $1,236,186,000. Amundi lifted its stake in Marsh & McLennan Companies by 81.1% in the fourth quarter. Amundi now owns 4,072,976 shares of the financial services provider's stock worth $860,824,000 after acquiring an additional 1,823,807 shares during the period. Assenagon Asset Management S.A. increased its position in Marsh & McLennan Companies by 7,320.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,108,758 shares of the financial services provider's stock valued at $235,511,000 after purchasing an additional 1,093,817 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Marsh & McLennan Companies in the 4th quarter valued at about $207,278,000. Finally, Franklin Resources Inc. raised its position in shares of Marsh & McLennan Companies by 473.2% in the 4th quarter. Franklin Resources Inc. now owns 927,525 shares of the financial services provider's stock worth $197,016,000 after acquiring an additional 765,696 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company's stock.
Insider Buying and Selling
In other news, CEO Dean Michael Klisura sold 7,121 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $234.97, for a total value of $1,673,221.37. Following the completion of the sale, the chief executive officer now directly owns 20,935 shares in the company, valued at $4,919,096.95. The trade was a 25.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul Beswick sold 2,237 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $246.00, for a total transaction of $550,302.00. Following the transaction, the senior vice president now owns 13,522 shares of the company's stock, valued at $3,326,412. This represents a 14.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,634 shares of company stock valued at $16,244,986. Corporate insiders own 0.35% of the company's stock.
Marsh & McLennan Companies Stock Performance
NYSE MMC traded up $0.41 on Friday, hitting $219.37. 3,174,623 shares of the company's stock traded hands, compared to its average volume of 1,873,084. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. The firm's 50-day moving average price is $231.78 and its two-hundred day moving average price is $224.62. Marsh & McLennan Companies, Inc. has a 1-year low of $196.72 and a 1-year high of $248.00. The firm has a market capitalization of $108.09 billion, a PE ratio of 26.79, a P/E/G ratio of 2.70 and a beta of 0.85.
Marsh & McLennan Companies (NYSE:MMC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.04. Marsh & McLennan Companies had a return on equity of 32.60% and a net margin of 16.60%. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.08 billion. During the same period last year, the firm earned $2.89 EPS. As a group, analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.
Marsh & McLennan Companies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, April 3rd. Marsh & McLennan Companies's dividend payout ratio (DPR) is 39.95%.
Wall Street Analyst Weigh In
A number of equities analysts have commented on MMC shares. Jefferies Financial Group boosted their target price on shares of Marsh & McLennan Companies from $237.00 to $244.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Redburn Atlantic began coverage on shares of Marsh & McLennan Companies in a research note on Tuesday, March 25th. They issued a "buy" rating and a $281.00 target price for the company. Barclays upped their price target on Marsh & McLennan Companies from $246.00 to $249.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. UBS Group raised their price objective on Marsh & McLennan Companies from $259.00 to $261.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. upped their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Marsh & McLennan Companies currently has an average rating of "Hold" and a consensus target price of $241.93.
Read Our Latest Report on Marsh & McLennan Companies
Marsh & McLennan Companies Profile
(
Free Report)
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.
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