Public Employees Retirement System of Ohio lessened its position in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 199,403 shares of the financial services provider’s stock after selling 3,182 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Marsh & McLennan Companies were worth $34,586,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Marsh & McLennan Companies during the 2nd quarter worth about $29,000. Solstein Capital LLC acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at about $25,000. SHP Wealth Management bought a new stake in Marsh & McLennan Companies during the fourth quarter worth about $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Marsh & McLennan Companies during the fourth quarter valued at approximately $27,000. Finally, Golden State Wealth Management LLC bought a new position in Marsh & McLennan Companies in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 87.99% of the company’s stock.
Insider Buying and Selling
In related news, CEO John Q. Doyle sold 16,656 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total value of $2,693,441.76. Following the transaction, the chief executive officer owned 116,811 shares in the company, valued at approximately $18,889,506.81. This represents a 12.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Price Performance
Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.07. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.The business had revenue of $7.28 billion during the quarter. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.41 earnings per share for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors 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 dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s payout ratio is presently 48.41%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Marsh & McLennan Companies from $186.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Bank of America decreased their target price on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. JPMorgan Chase & Co. increased their price target on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Morgan Stanley decreased their price objective on shares of Marsh & McLennan Companies from $180.00 to $175.00 and set an “equal weight” rating for the company in a research report on Monday, July 6th. Finally, Barclays lowered their price objective on shares of Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of “Hold” and an average price target of $201.69.
Get Our Latest Stock Report on MRSH
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.
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