Amundi Sells 1,065,794 Shares of Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Amundi cut its Marsh & McLennan stake by 31.7% in the first quarter, selling 1.07 million shares and retaining 2.30 million shares worth about $398.7 million. Institutional investors still own approximately 88% of the company.
• Marsh & McLennan reported quarterly EPS of $2.96, beating estimates of $2.89, while revenue rose 6.2% year over year to $7.28 billion. The company also raised its quarterly dividend from $0.90 to $0.99 per share.
• Analyst sentiment remains largely neutral, with the stock holding a consensus “Hold” rating and an average price target of $201.94. Recent insider activity was also negative, with insiders selling 35,756 shares worth approximately $6.15 million over 90 days.

Amundi reduced its stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 31.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,298,833 shares of the financial services provider's stock after selling 1,065,794 shares during the period. Amundi owned approximately 0.48% of Marsh & McLennan Companies worth $398,733,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp purchased a new stake in Marsh & McLennan Companies in the fourth quarter valued at approximately $4,057,682,000. Capital International Investors purchased a new position in shares of Marsh & McLennan Companies during the fourth quarter worth approximately $3,482,557,000. Capital World Investors purchased a new stake in shares of Marsh & McLennan Companies in the 4th quarter valued at $3,140,284,000. Wellington Management Group LLP bought a new stake in Marsh & McLennan Companies in the fourth quarter worth $2,967,927,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in Marsh & McLennan Companies in the fourth quarter valued at approximately $1,710,101,000. Hedge funds and other institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Trading Up 2.8%

MRSH stock opened at $197.56 on Thursday. Marsh & McLennan Companies, Inc. has a 12-month low of $156.60 and a 12-month high of $213.80. The company has a 50 day simple moving average of $172.40. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $94.28 billion, a PE ratio of 24.15, a PEG ratio of 2.76 and a beta of 0.61.

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 analysts' consensus estimates 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 firm had revenue of $7.28 billion for the quarter. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts predict that Marsh & McLennan Companies, Inc. will post 10.43 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 23rd will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, July 23rd. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.90. This represents a $3.96 annualized dividend and a dividend yield of 2.0%. Marsh & McLennan Companies's dividend payout ratio is presently 48.41%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MRSH. Citigroup cut shares of Marsh & McLennan Companies from a "buy" rating to a "neutral" rating and set a $200.00 target price on the stock. in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their price target on Marsh & McLennan Companies from $200.00 to $203.00 and gave the company a "market perform" rating in a report on Friday, April 17th. Cantor Fitzgerald increased their price objective on Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Mizuho upped their price objective on shares of Marsh & McLennan Companies from $197.00 to $201.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Finally, Barclays reduced their price target on shares of Marsh & McLennan Companies from $209.00 to $206.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $201.94.

Insider Activity at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, Director Lloyd M. Yates sold 12,000 shares of the firm's stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $175.65, for a total value of $2,107,800.00. Following the transaction, the director directly owned 12,001 shares of the company's stock, valued at approximately $2,107,975.65. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Martin South sold 7,100 shares of the company's stock in a transaction dated 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 directly owned 16,632 shares of the company's stock, valued at $3,159,913.68. The trade was a 29.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 35,756 shares of company stock worth $6,150,171. 0.38% of the stock is owned by insiders.

About Marsh & McLennan Companies

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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