CANADA LIFE ASSURANCE Co Buys 598,284 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

CANADA LIFE ASSURANCE Co grew its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 101.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,187,312 shares of the financial services provider’s stock after acquiring an additional 598,284 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Marsh & McLennan Companies were worth $252,048,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of analysts recently weighed in on MMC shares. UBS Group increased their price objective on Marsh & McLennan Companies from $259.00 to $261.00 and gave the company a “buy” rating in a report on Wednesday, April 9th. Barclays raised their price objective 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. JPMorgan Chase & Co. increased their target price on shares of Marsh & McLennan Companies from $230.00 to $235.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Redburn Atlantic assumed coverage on shares of Marsh & McLennan Companies in a research report on Tuesday, March 25th. They issued a “buy” rating and a $281.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Marsh & McLennan Companies from $223.00 to $232.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $237.75.

Insider Buying and Selling

In related news, SVP Paul Beswick sold 2,237 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $246.00, for a total transaction of $550,302.00. Following the sale, the senior vice president now owns 13,522 shares of the company’s stock, valued at approximately $3,326,412. This represents a 14.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas Mark Studer sold 49,390 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $230.16, for a total value of $11,367,602.40. Following the sale, the chief executive officer now owns 28,329 shares in the company, valued at approximately $6,520,202.64. This represents a 63.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,634 shares of company stock worth $16,244,986. Insiders own 0.30% of the company’s stock.

Marsh & McLennan Companies Trading Down 0.5 %

MMC opened at $231.14 on Thursday. The firm has a market capitalization of $113.93 billion, a PE ratio of 28.22, a P/E/G ratio of 2.70 and a beta of 0.85. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13. Marsh & McLennan Companies, Inc. has a fifty-two week low of $196.23 and a fifty-two week high of $248.00. The company’s 50-day moving average is $233.27 and its 200 day moving average is $224.81.

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

Marsh & McLennan Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 3rd will be issued a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, April 3rd. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 39.80%.

Marsh & McLennan Companies Profile

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.