Bank of New York Mellon Corp Reduces Stake in Marsh & McLennan Companies, Inc. $MRSH

Bank of New York Mellon Corp cut its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,254,021 shares of the financial services provider’s stock after selling 67,679 shares during the period. Bank of New York Mellon Corp’s holdings in Marsh & McLennan Companies were worth $564,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Illinois Municipal Retirement Fund raised its holdings in Marsh & McLennan Companies by 3.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 38,326 shares of the financial services provider’s stock valued at $6,648,000 after buying an additional 1,099 shares during the period. Journey Advisory Group LLC purchased a new position in Marsh & McLennan Companies during the first quarter worth $386,000. Geneos Wealth Management Inc. bought a new position in Marsh & McLennan Companies during the first quarter valued at $5,246,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Marsh & McLennan Companies in the first quarter valued at $104,000. Finally, MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of Marsh & McLennan Companies in the 1st quarter worth about $450,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings downgraded shares of Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods upped their target price on Marsh & McLennan Companies from $200.00 to $203.00 and gave the company a “market perform” rating in a research note on Friday, April 17th. Morgan Stanley reduced their price target on Marsh & McLennan Companies from $180.00 to $175.00 and set an “equal weight” rating on the stock in a report on Monday, July 6th. Barclays dropped their price objective on Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. 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 analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $200.81.

Marsh & McLennan Companies Stock Performance

MRSH opened at $182.22 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.28. The firm has a market cap of $88.03 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 2.57 and a beta of 0.61. Marsh & McLennan Companies, Inc. has a 52 week low of $156.60 and a 52 week high of $216.32.

Marsh & McLennan Companies (NYSE:MRSH) last issued its earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.08. The business had revenue of $7.30 billion during the quarter. Marsh & McLennan Companies had a return on equity of 31.87% and a net margin of 14.26%.The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.36 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 45.00%.

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 116,811 shares of the company’s stock, valued at approximately $18,889,506.81. This trade represents a 12.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.38% 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.