Pitcairn Co. Sells 5,806 Shares of Marsh & McLennan Companies, Inc. $MRSH

Pitcairn Co. reduced its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 56.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,435 shares of the financial services provider’s stock after selling 5,806 shares during the period. Pitcairn Co.’s holdings in Marsh & McLennan Companies were worth $894,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Hanson & Doremus Investment Management increased its stake in Marsh & McLennan Companies by 31.3% in the third quarter. Hanson & Doremus Investment Management now owns 214 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 51 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Marsh & McLennan Companies by 1.2% during the third quarter. D.A. Davidson & CO. now owns 4,514 shares of the financial services provider’s stock valued at $910,000 after purchasing an additional 54 shares during the period. OneAscent Wealth Management LLC grew its holdings in shares of Marsh & McLennan Companies by 6.1% in the second quarter. OneAscent Wealth Management LLC now owns 1,046 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 60 shares during the last quarter. Bank of Nova Scotia Trust Co. increased its stake in Marsh & McLennan Companies by 6.7% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 949 shares of the financial services provider’s stock worth $207,000 after buying an additional 60 shares during the period. Finally, Ashton Thomas Securities LLC lifted its holdings in Marsh & McLennan Companies by 1.8% during the 3rd quarter. Ashton Thomas Securities LLC now owns 3,663 shares of the financial services provider’s stock valued at $736,000 after buying an additional 63 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.

Analyst Upgrades and Downgrades

MRSH has been the topic of a number of research analyst reports. Cantor Fitzgerald upped their target price on shares of Marsh & McLennan Companies from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $200.00 price target on shares of Marsh & McLennan Companies in a report on Friday, January 30th. Barclays increased their price objective on Marsh & McLennan Companies from $206.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Evercore decreased their target price on Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, January 7th. Finally, Morgan Stanley upped their target price on Marsh & McLennan Companies from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $216.18.

Marsh & McLennan Companies Stock Performance

NYSE:MRSH opened at $183.43 on Friday. Marsh & McLennan Companies, Inc. has a one year low of $170.37 and a one year high of $248.00. The stock has a market capitalization of $88.80 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.10 and a quick ratio of 1.10.

Marsh & McLennan Companies (NYSE:MRSH) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.15. The company had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.52 billion. Marsh & McLennan Companies had a net margin of 15.42% and a return on equity of 31.60%. Marsh & McLennan Companies’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.87 earnings per share. On average, research analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be issued a $0.90 dividend. The ex-dividend date is Thursday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 42.70%.

Insider Activity at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 16,655 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $183.30, for a total transaction of $3,052,861.50. Following the completion of the sale, the chief executive officer directly owned 116,811 shares in the company, valued at $21,411,456.30. This represents a 12.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.35% of the company’s stock.

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.