Assetmark Inc. Lowers Position in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Assetmark Inc. trimmed its stake in Marsh & McLennan by 6.2% to 645,728 shares (≈$119.8M) in Q4, while other institutions dramatically reshuffled positions—Assenagon increased its holding by 9,455.4% and institutional ownership stands at about 87.99%.
• CEO John Q. Doyle sold 16,655 shares at an average price of $183.30 on March 4, a transaction worth ~$3.05M that reduced his ownership by 12.48% (insiders own 0.38%).
• Analysts have a consensus rating of "Hold" with a $205.60 target; the company recently beat Q4 EPS estimates ($2.12 vs. $1.97) and pays a $0.90 quarterly dividend (2.1% yield, $3.60 annualized).

Assetmark Inc. lessened its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 645,728 shares of the financial services provider's stock after selling 42,855 shares during the period. Assetmark Inc. owned approximately 0.13% of Marsh & McLennan Companies worth $119,795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MRSH. Assenagon Asset Management S.A. increased its position in Marsh & McLennan Companies by 9,455.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,520,164 shares of the financial services provider's stock valued at $282,021,000 after buying an additional 1,504,255 shares in the last quarter. Wellington Management Group LLP increased its position in Marsh & McLennan Companies by 9.1% during the 3rd quarter. Wellington Management Group LLP now owns 15,091,478 shares of the financial services provider's stock valued at $3,041,386,000 after buying an additional 1,260,434 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Marsh & McLennan Companies by 654.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,419,104 shares of the financial services provider's stock valued at $285,992,000 after buying an additional 1,231,059 shares in the last quarter. Invesco Ltd. increased its position in Marsh & McLennan Companies by 29.7% during the 3rd quarter. Invesco Ltd. now owns 3,293,188 shares of the financial services provider's stock valued at $663,676,000 after buying an additional 753,828 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its position in Marsh & McLennan Companies by 93.4% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,379,436 shares of the financial services provider's stock valued at $277,998,000 after buying an additional 666,023 shares in the last quarter. Institutional investors own 87.99% of the company's stock.

Insiders Place Their Bets

In related news, CEO John Q. Doyle sold 16,655 shares of Marsh & McLennan Companies stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $183.30, for a total transaction of $3,052,861.50. Following the transaction, the chief executive officer directly owned 116,811 shares in the company, valued at approximately $21,411,456.30. The trade was a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MRSH shares. Evercore reduced their target price on Marsh & McLennan Companies from $237.00 to $236.00 and set an "outperform" rating for the company in a report on Wednesday, January 7th. Cantor Fitzgerald raised their price target on Marsh & McLennan Companies from $208.00 to $212.00 and gave the stock an "overweight" rating in a research note on Monday, February 2nd. Citigroup raised their price target on Marsh & McLennan Companies from $201.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 3rd. Morgan Stanley dropped their price target on Marsh & McLennan Companies from $195.00 to $190.00 and set an "equal weight" rating on the stock in a research note on Monday, April 6th. Finally, Wells Fargo & Company dropped their price target on Marsh & McLennan Companies from $203.00 to $178.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $205.60.

Marsh & McLennan Companies Stock Performance

NYSE MRSH opened at $173.47 on Tuesday. The stock has a market capitalization of $83.98 billion, a P/E ratio of 20.58, a PEG ratio of 2.29 and a beta of 0.75. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.20. The firm's fifty day moving average is $173.02. Marsh & McLennan Companies, Inc. has a fifty-two week low of $164.89 and a fifty-two week high of $239.34.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last released its earnings results on Thursday, January 29th. The financial services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.15. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.52 billion. Marsh & McLennan Companies had a return on equity of 31.60% and a net margin of 15.42%.Marsh & McLennan Companies's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.87 earnings per share. On average, sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 9th will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, April 9th. This represents a $3.60 annualized dividend and a yield of 2.1%. Marsh & McLennan Companies's payout ratio is 42.70%.

Marsh & McLennan Companies 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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