Bank of America Corp DE Has $856.78 Million Holdings in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Bank of America reduced its Marsh & McLennan position by 10.6% in the first quarter, selling 582,949 shares. It still held 4.94 million shares worth approximately $856.8 million, representing a 1.03% stake.
• Analysts maintain a mixed outlook, with the stock receiving an average “Hold” rating and a consensus price target of $201.94. Recent targets range from $201 to $218.
• Marsh & McLennan beat quarterly earnings estimates with EPS of $2.96 and revenue of $7.28 billion, up 6.2% year over year. The company also raised its quarterly dividend to $0.99, or $3.96 annually, for a 2.1% yield.

Bank of America Corp DE cut its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 10.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,939,614 shares of the financial services provider's stock after selling 582,949 shares during the period. Bank of America Corp DE owned 1.03% of Marsh & McLennan Companies worth $856,776,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems boosted its stake in shares of Marsh & McLennan Companies by 46.2% during the 1st quarter. Kentucky Retirement Systems now owns 45,308 shares of the financial services provider's stock worth $7,859,000 after acquiring an additional 14,321 shares in the last quarter. Bull Harbor Capital LLC acquired a new stake in Marsh & McLennan Companies in the 1st quarter worth approximately $1,832,000. Strategic Investment Advisors MI boosted its position in Marsh & McLennan Companies by 5.8% during the first quarter. Strategic Investment Advisors MI now owns 13,368 shares of the financial services provider's stock worth $2,319,000 after purchasing an additional 733 shares during the period. Ashton Thomas Securities LLC acquired a new position in Marsh & McLennan Companies during the first quarter valued at approximately $2,330,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Marsh & McLennan Companies in the first quarter valued at approximately $1,528,000. Institutional investors and hedge funds own 87.99% of the company's stock.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, 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 value of $1,348,929.00. Following the sale, the insider owned 16,632 shares of the company's stock, valued at $3,159,913.68. The trade was a 29.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the completion of the transaction, the chief executive officer directly owned 116,811 shares of the company's stock, valued at $18,889,506.81. This trade represents a 12.48% 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. Insiders sold a total of 36,469 shares of company stock valued at $6,291,345 over the last quarter. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald raised their target price on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. boosted their price objective on Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods raised their target price 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. Mizuho lifted their price target on Marsh & McLennan Companies from $197.00 to $201.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. Finally, Barclays reduced their price objective on Marsh & McLennan Companies from $209.00 to $206.00 and set an "overweight" rating for the company in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $201.94.

Marsh & McLennan Companies Stock Down 0.8%

MRSH stock opened at $189.89 on Friday. Marsh & McLennan Companies, Inc. has a twelve month low of $156.60 and a twelve month high of $213.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $90.62 billion, a P/E ratio of 23.21, a PEG ratio of 2.75 and a beta of 0.61. The business's 50-day moving average price is $173.23.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 EPS for the quarter, topping analysts' consensus estimates of $2.89 by $0.07. The company had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.The company's quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd will be paid a $0.99 dividend. The ex-dividend date is Thursday, July 23rd. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.90. Marsh & McLennan Companies's dividend payout ratio is currently 48.41%.

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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