CIBC Asset Management Inc Purchases New Position in Marsh & McLennan Companies, Inc. $MRSH

CIBC Asset Management Inc purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 177,522 shares of the financial services provider’s stock, valued at approximately $32,922,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MRSH. Norges Bank purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter valued at about $1,555,869,000. Goldman Sachs Group Inc. purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter valued at about $744,740,000. Mawer Investment Management Ltd. purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter valued at about $724,583,000. Bank of New York Mellon Corp acquired a new stake in Marsh & McLennan Companies in the 4th quarter worth about $616,242,000. Finally, Ninety One UK Ltd boosted its holdings in Marsh & McLennan Companies by 163.0% in the 4th quarter. Ninety One UK Ltd now owns 3,542,004 shares of the financial services provider’s stock worth $657,113,000 after buying an additional 2,195,201 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MRSH shares. Piper Sandler lowered their price objective on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating on the stock in a report on Tuesday, May 26th. Raymond James Financial upgraded Marsh & McLennan Companies from an “outperform” rating to a “strong-buy” rating and set a $225.00 price objective on the stock in a report on Tuesday, February 17th. Barclays lowered their price objective on Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Morgan Stanley lowered their price objective on Marsh & McLennan Companies from $195.00 to $190.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Finally, Weiss Ratings cut Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $203.56.

Marsh & McLennan Companies Trading Down 2.4%

MRSH opened at $157.52 on Thursday. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $235.38. The company has a market capitalization of $76.10 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11.

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

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total value of $2,693,441.76. Following the sale, the chief executive officer owned 116,811 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is currently owned by insiders.

About Marsh & McLennan Companies

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.