137,648 Marsh & McLennan Companies, Inc. $MRSH Shares Sold by Beutel Goodman & Co Ltd.

Key Points

• Beutel Goodman reduced its Marsh & McLennan stake by 8.7%, selling 137,648 shares in the third quarter; it still held 1,436,242 shares, valued at about $245.2 million.
• Analysts’ consensus rating was Hold, with an average price target of $205.84. Recent target increases included UBS to $222 and JPMorgan to $218.
• The company reported quarterly earnings of $2.03 per share, beating estimates of $1.96, while revenue rose 8.1% year over year to $6.86 billion. It also declared a quarterly dividend of $0.99 per share.

Beutel Goodman & Co Ltd. cut its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,436,242 shares of the financial services provider's stock after selling 137,648 shares during the period. Marsh & McLennan Companies makes up approximately 1.9% of Beutel Goodman & Co Ltd.'s investment portfolio, making the stock its 21st largest holding. Beutel Goodman & Co Ltd. owned 0.30% of Marsh & McLennan Companies worth $245,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Marsh & McLennan Companies during the second quarter worth about $6,583,806,000. Corient Private Wealth LP acquired a new position in shares of Marsh & McLennan Companies in the 2nd quarter valued at approximately $66,475,000. Deutsche Bank AG acquired a new position in shares of Marsh & McLennan Companies in the 2nd quarter valued at approximately $685,621,000. Bank of America Corp DE bought a new stake in Marsh & McLennan Companies during the 2nd quarter worth approximately $575,845,000. Finally, Bank of New York Mellon Corp bought a new stake in Marsh & McLennan Companies during the 2nd quarter worth approximately $532,438,000. 87.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on MRSH shares. JPMorgan Chase & Co. raised their target price on shares of Marsh & McLennan Companies from $215.00 to $218.00 and gave the stock an "overweight" rating in a report on Tuesday, October 20th. Erste Group Bank upgraded shares of Marsh & McLennan Companies to a "strong-buy" rating in a report on Tuesday, September 8th. Citigroup increased their price objective on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a "neutral" rating in a research report on Friday, October 16th. UBS Group raised their price objective on shares of Marsh & McLennan Companies from $216.00 to $222.00 and gave the stock a "buy" rating in a report on Tuesday, October 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Marsh & McLennan Companies from $183.00 to $197.00 and gave the company an "equal weight" rating in a research report on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $205.84.

Marsh & McLennan Companies Stock Performance

NYSE:MRSH opened at $204.59 on Tuesday. The stock's 50-day moving average price is $184.01. Marsh & McLennan Companies, Inc. has a 52-week low of $156.60 and a 52-week high of $214.00. The company has a market capitalization of $97.29 billion, a P/E ratio of 24.47, a PEG ratio of 2.84 and a beta of 0.53. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.09 and a current ratio of 1.09.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last released its earnings results on Thursday, October 15th. The financial services provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.96 by $0.07. Marsh & McLennan Companies had a return on equity of 33.32% and a net margin of 14.20%. The firm had revenue of $6.86 billion for the quarter. The business's revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts predict that Marsh & McLennan Companies, Inc. will post 10.49 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Thursday, October 1st will be issued a $0.99 dividend. The ex-dividend date is Thursday, October 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.9%. Marsh & McLennan Companies's dividend payout ratio (DPR) is 47.37%.

Insiders Place Their Bets

In other news, CEO Dean Klisura sold 4,194 shares of the business's stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $200.00, for a total value of $838,800.00. Following the sale, the chief executive officer owned 20,935 shares of the company's stock, valued at $4,187,000. The trade was a 16.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Stacy Mills sold 1,215 shares of the stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $200.00, for a total transaction of $243,000.00. Following the transaction, the vice president owned 2,705 shares of the company's stock, valued at $541,000. The trade was a 30.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.38% of the company's stock.

About Marsh & McLennan Companies

Marsh & McLennan Companies, now known as Marsh, is a professional services firm focused on risk, strategy and people. Its businesses help organizations assess and manage risk, arrange insurance and reinsurance, and address workforce and organizational challenges.

The company operates through Marsh, an insurance brokerage and risk advisory business; Guy Carpenter, which specializes in reinsurance and related risk services; Mercer, which provides health, wealth and career consulting; and Oliver Wyman, a management consulting firm.

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