CIBC Asset Management Inc Buys Shares of 177,522 Marsh & McLennan Companies, Inc. $MRSH

CIBC Asset Management Inc bought a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 177,522 shares of the financial services provider’s stock, valued at approximately $32,922,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MRSH. Norges Bank purchased a new stake in Marsh & McLennan Companies in the fourth quarter valued at approximately $1,555,869,000. Goldman Sachs Group Inc. purchased a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth $744,740,000. Mawer Investment Management Ltd. purchased a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth $724,583,000. Bank of New York Mellon Corp purchased a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth $616,242,000. Finally, Ninety One UK Ltd increased its position in shares of Marsh & McLennan Companies by 163.0% during the fourth quarter. Ninety One UK Ltd now owns 3,542,004 shares of the financial services provider’s stock worth $657,113,000 after acquiring an additional 2,195,201 shares during the period. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Trading Down 2.4%

Shares of MRSH stock opened at $157.52 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $76.10 billion, a P/E ratio of 19.69, a PEG ratio of 2.35 and a beta of 0.62. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $235.38.

Marsh & McLennan Companies (NYSE:MRSH) last issued its earnings results on Thursday, April 16th. The financial services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.08. The firm had revenue of $7.30 billion during the quarter. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 10.38 earnings per share for the current year.

Insider Activity at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 16,656 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the completion of the transaction, the chief executive officer owned 116,811 shares in the company, valued at approximately $18,889,506.81. The trade was a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MRSH shares. Mizuho cut their price objective on Marsh & McLennan Companies from $199.00 to $193.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Barclays cut their price objective on Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Wells Fargo & Company cut their price objective on Marsh & McLennan Companies from $203.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Raymond James Financial raised Marsh & McLennan Companies from an “outperform” rating to a “strong-buy” rating and set a $225.00 price objective on the stock in a research report on Tuesday, February 17th. Finally, Citigroup raised Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $203.56.

Marsh & McLennan Companies 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.