Public Sector Pension Investment Board Buys 28,589 Shares of Marsh & McLennan Companies, Inc. $MMC

Public Sector Pension Investment Board raised its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 28.2% in the third quarter, Holdings Channel reports. The fund owned 130,015 shares of the financial services provider’s stock after acquiring an additional 28,589 shares during the period. Public Sector Pension Investment Board’s holdings in Marsh & McLennan Companies were worth $26,202,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new position in Marsh & McLennan Companies in the third quarter valued at about $25,000. Headlands Technologies LLC bought a new position in shares of Marsh & McLennan Companies in the second quarter valued at approximately $29,000. Westside Investment Management Inc. grew its position in Marsh & McLennan Companies by 363.3% during the 2nd quarter. Westside Investment Management Inc. now owns 139 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 109 shares during the last quarter. Delos Wealth Advisors LLC acquired a new stake in Marsh & McLennan Companies during the 2nd quarter valued at $32,000. Finally, TruNorth Capital Management LLC bought a new position in Marsh & McLennan Companies in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Analyst Upgrades and Downgrades

MMC has been the subject of a number of research reports. Mizuho initiated coverage on Marsh & McLennan Companies in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $212.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Marsh & McLennan Companies from $212.00 to $199.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. Citigroup decreased their price target on shares of Marsh & McLennan Companies from $211.00 to $201.00 and set a “neutral” rating on the stock in a research note on Thursday, December 4th. Weiss Ratings restated a “hold (c)” rating on shares of Marsh & McLennan Companies in a research report on Friday, October 31st. Finally, Evercore decreased their price objective on Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 7th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and an average target price of $216.88.

Marsh & McLennan Companies Trading Down 1.7%

Shares of NYSE MMC opened at $182.39 on Friday. The company’s 50 day simple moving average is $183.92 and its 200 day simple moving average is $191.17. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.12 and a quick ratio of 1.12. Marsh & McLennan Companies, Inc. has a fifty-two week low of $174.18 and a fifty-two week high of $248.00. The firm has a market capitalization of $89.35 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.87 and a beta of 0.76.

Marsh & McLennan Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Thursday, January 29th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Thursday, January 29th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 43.17%.

Insider Buying and Selling

In related news, CEO John Q. Doyle sold 21,079 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $182.22, for a total value of $3,841,015.38. Following the completion of the sale, the chief executive officer owned 87,681 shares in the company, valued at approximately $15,977,231.82. This represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.