9,638 Marsh & McLennan Companies, Inc. $MRSH Shares Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management cut its Marsh & McLennan stake by 47% in the third quarter, selling 9,638 shares and retaining 10,889 shares worth approximately $1.86 million. Institutional investors and hedge funds collectively own 87.99% of the stock.
• Marsh & McLennan reported quarterly EPS of $2.03, beating estimates of $1.96, while revenue rose 8.1% year over year to $6.86 billion. The company also declared a quarterly dividend of $0.99 per share, representing a 2.0% yield.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $204.42; MRSH recently opened at $197.71, near its 52-week high of $200.33.

Axxcess Wealth Management LLC lessened its stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 47.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,889 shares of the financial services provider's stock after selling 9,638 shares during the quarter. Axxcess Wealth Management LLC's holdings in Marsh & McLennan Companies were worth $1,859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hosking Partners LLP acquired a new position in Marsh & McLennan Companies in the third quarter valued at approximately $10,927,000. Quadrant Capital Group LLC increased its stake in shares of Marsh & McLennan Companies by 0.6% in the third quarter. Quadrant Capital Group LLC now owns 9,612 shares of the financial services provider's stock valued at $1,701,000 after purchasing an additional 53 shares during the period. Benchmark Financial Wealth Advisors LLC grew its stake in shares of Marsh & McLennan Companies by 7.2% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 1,389 shares of the financial services provider's stock worth $237,000 after purchasing an additional 93 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Marsh & McLennan Companies by 12.0% during the third quarter. Pinnacle Associates Ltd. now owns 11,209 shares of the financial services provider's stock valued at $1,914,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Integrated Advisors Network LLC increased its stake in Marsh & McLennan Companies by 330.5% during the 3rd quarter. Integrated Advisors Network LLC now owns 15,376 shares of the financial services provider's stock valued at $2,625,000 after buying an additional 11,804 shares during the period. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Martin South sold 7,100 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $189.99, for a total transaction of $1,348,929.00. Following the sale, the insider owned 16,632 shares in the company, valued at approximately $3,159,913.68. This trade represents a 29.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Paul Beswick sold 713 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total value of $141,174.00. Following the completion of the sale, the senior vice president directly owned 16,376 shares of the company's stock, valued at approximately $3,242,448. This represents a 4.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is owned by corporate insiders.

Marsh & McLennan Companies Stock Performance

NYSE:MRSH opened at $197.71 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $94.01 billion, a P/E ratio of 19.16, a PEG ratio of 2.70 and a beta of 0.59. The firm's 50 day moving average price is $181.60. Marsh & McLennan Companies, Inc. has a fifty-two week low of $156.60 and a fifty-two week high of $200.33.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $6.86 billion during the quarter. The company's quarterly revenue was up 8.1% on a year-over-year basis. Research analysts predict that Marsh & McLennan Companies, Inc. will post 10.47 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, October 1st. Marsh & McLennan Companies's dividend payout ratio (DPR) is 47.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MRSH shares. JPMorgan Chase & Co. lifted their price objective on shares of Marsh & McLennan Companies from $215.00 to $218.00 and gave the stock an "overweight" rating in a research note on Tuesday. Evercore reduced their price objective on Marsh & McLennan Companies from $234.00 to $224.00 in a research report on Thursday, October 8th. BMO Capital Markets decreased their price objective on shares of Marsh & McLennan Companies from $203.00 to $179.00 and set a "market perform" rating for the company in a report on Thursday, October 1st. Keefe, Bruyette & Woods upped their price objective on shares of Marsh & McLennan Companies from $186.00 to $201.00 and gave the stock a "market perform" rating in a report on Monday, October 19th. Finally, The Goldman Sachs Group cut their price target on Marsh & McLennan Companies from $197.00 to $191.00 and set a "neutral" rating for the company in a report on Thursday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $204.42.

Marsh & McLennan Companies Profile

Marsh & McLennan Companies is a global professional services firm that provides advice and solutions in risk, strategy and people. The company serves businesses, governments and institutions through a portfolio of specialized businesses focused on insurance brokerage, reinsurance, consulting and talent management.

Its principal businesses include Marsh, an insurance brokerage and risk advisory firm; Guy Carpenter, a provider of reinsurance brokerage and related risk-management services; Mercer, which offers consulting in investment, retirement, health and workforce strategy; and Oliver Wyman, a management consulting firm serving clients across industries and regions.

Founded in 1905, Marsh & McLennan serves clients in countries and markets around the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.