Coldstream Capital Management Inc. lessened its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 90.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,646 shares of the financial services provider’s stock after selling 25,367 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Marsh & McLennan Companies were worth $222,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Marsh & McLennan Companies by 9.3% in the 2nd quarter. BlackRock Inc. now owns 40,950,741 shares of the financial services provider’s stock worth $3,192,520,000 after buying an additional 3,493,942 shares during the period. Janus Henderson Group PLC raised its position in shares of Marsh & McLennan Companies by 4,831.1% in the 2nd quarter. Janus Henderson Group PLC now owns 3,501,261 shares of the financial services provider’s stock worth $272,958,000 after buying an additional 3,430,257 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in shares of Marsh & McLennan Companies by 71.4% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 5,905,823 shares of the financial services provider’s stock worth $494,967,000 after buying an additional 2,460,107 shares during the period. JPMorgan Chase & Co. raised its position in Marsh & McLennan Companies by 35.2% in the third quarter. JPMorgan Chase & Co. now owns 6,706,542 shares of the financial services provider’s stock valued at $561,069,000 after purchasing an additional 1,747,201 shares during the period. Finally, USS Investment Management Ltd raised its position in Marsh & McLennan Companies by 401.0% in the second quarter. USS Investment Management Ltd now owns 1,991,547 shares of the financial services provider’s stock valued at $155,251,000 after purchasing an additional 1,594,047 shares during the period. Hedge funds and other institutional investors own 85.99% of the company’s stock.
Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) traded up $0.72 during midday trading on Wednesday, hitting $84.65. The stock had a trading volume of 1,686,400 shares, compared to its average volume of 1,761,270. Marsh & McLennan Companies, Inc. has a twelve month low of $66.75 and a twelve month high of $86.54. The stock has a market capitalization of $42,834.25, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 1.78 and a beta of 1.01. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.37 and a current ratio of 1.37.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 10th were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.50 dividend on an annualized basis and a yield of 1.77%. Marsh & McLennan Companies’s payout ratio is currently 41.10%.
In related news, Director Marc D. Oken bought 1,235 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was bought at an average cost of $80.89 per share, for a total transaction of $99,899.15. Following the completion of the purchase, the director now directly owns 40,120 shares in the company, valued at approximately $3,245,306.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.46% of the company’s stock.
Several research analysts have commented on MMC shares. BidaskClub lowered Marsh & McLennan Companies from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Wells Fargo & Company set a $91.00 price objective on Marsh & McLennan Companies and gave the company a “buy” rating in a research report on Thursday, October 26th. Deutsche Bank lowered Marsh & McLennan Companies from a “buy” rating to a “hold” rating and set a $83.00 price objective on the stock. in a research report on Wednesday, October 4th. Barclays raised their price objective on Marsh & McLennan Companies from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $85.00 price objective on shares of Marsh & McLennan Companies in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $86.42.
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Marsh & McLennan Companies Company Profile
Marsh & McLennan Companies, Inc is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy.
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