Connor Clark & Lunn Investment Management Ltd. Has $20.56 Million Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Connor Clark & Lunn Investment Management Ltd. lowered its position in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 49.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of MMC. Fortitude Family Office LLC grew its stake in Marsh & McLennan Companies by 18.8% during the third quarter. Fortitude Family Office LLC now owns 285 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 45 shares during the period. Kingfisher Capital LLC increased its position in shares of Marsh & McLennan Companies by 4.7% during the second quarter. Kingfisher Capital LLC now owns 1,042 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 47 shares in the last quarter. Drive Wealth Management LLC lifted its position in shares of Marsh & McLennan Companies by 3.7% during the second quarter. Drive Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 49 shares in the last quarter. Legacy Financial Advisors Inc. boosted its holdings in Marsh & McLennan Companies by 2.3% during the second quarter. Legacy Financial Advisors Inc. now owns 2,222 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 49 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of Marsh & McLennan Companies by 0.6% in the 2nd quarter. Ritholtz Wealth Management now owns 8,953 shares of the financial services provider’s stock worth $1,887,000 after buying an additional 51 shares during the last quarter. 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 firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $221.55, for a total transaction of $553,875.00. Following the completion of the transaction, the director now owns 48,549 shares in the company, valued at $10,756,030.95. This trade represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Marsh & McLennan Companies Trading Up 0.6 %

Shares of MMC stock opened at $221.96 on Thursday. The company has a market cap of $109.01 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 3.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a fifty day moving average price of $223.81 and a 200-day moving average price of $218.49. Marsh & McLennan Companies, Inc. has a 1 year low of $184.28 and a 1 year high of $232.32.

Marsh & McLennan Companies (NYSE:MMC) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.63 EPS for the quarter, topping the consensus estimate of $1.61 by $0.02. The firm had revenue of $5.70 billion for 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%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.57 earnings per share. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 8.69 earnings per share for the current year.

Marsh & McLennan Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 4th were paid a dividend of $0.815 per share. 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 dividend payout ratio (DPR) is presently 40.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MMC shares. UBS Group raised their target price on Marsh & McLennan Companies from $255.00 to $259.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. BMO Capital Markets lifted their price objective on shares of Marsh & McLennan Companies from $217.00 to $228.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group increased their target price on shares of Marsh & McLennan Companies from $219.00 to $222.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Barclays began coverage on Marsh & McLennan Companies in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $236.00 price objective on the stock. Finally, Royal Bank of Canada boosted their target price on Marsh & McLennan Companies from $232.00 to $242.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Marsh & McLennan Companies has a consensus rating of “Hold” and an average price target 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.