Bank of New York Mellon Corp Buys Shares of 3,194,567 Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Bank of New York Mellon acquired 3.19 million Marsh & McLennan shares worth approximately $532.4 million, giving it a 0.67% stake. Institutional investors collectively own 87.99% of the company.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $203.50. Recent targets range from $182 to $212.
• Marsh & McLennan reported quarterly EPS of $2.96, exceeding estimates, while revenue rose 6.2% year over year to $7.28 billion. The company also raised its quarterly dividend to $0.99 per share, implying a 2.1% yield.

Bank of New York Mellon Corp acquired a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,194,567 shares of the financial services provider's stock, valued at approximately $532,438,000. Bank of New York Mellon Corp owned 0.67% of Marsh & McLennan Companies 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. Focus Partners Advisor Solutions LLC bought a new position in Marsh & McLennan Companies in the second quarter valued at approximately $2,153,000. Swiss Life Asset Management Ltd raised its position in shares of Marsh & McLennan Companies by 9.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 134,542 shares of the financial services provider's stock valued at $24,960,000 after purchasing an additional 11,648 shares during the period. Essex LLC acquired a new position in Marsh & McLennan Companies in the 1st quarter valued at $2,891,000. Vanguard Group Inc. raised its stake in Marsh & McLennan Companies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 46,589,633 shares of the financial services provider's stock worth $8,643,309,000 after acquiring an additional 387,100 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Marsh & McLennan Companies by 26.6% during the 4th quarter. Benjamin Edwards Inc. now owns 35,293 shares of the financial services provider's stock worth $6,549,000 after purchasing an additional 7,418 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Martin South sold 7,100 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 16,632 shares of the company's stock, valued at approximately $3,159,913.68. This trade represents a 29.92% decrease in their ownership of the stock. The sale was disclosed in a legal 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 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 owned 16,376 shares of the company's stock, valued at $3,242,448. This represents a 4.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 36,469 shares of company stock worth $6,291,345. Insiders own 0.38% of the company's stock.

Analyst Ratings Changes

MRSH has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Morgan Stanley lifted their price objective on Marsh & McLennan Companies from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday. Citigroup lowered shares of Marsh & McLennan Companies from a "buy" rating to a "neutral" rating and set a $200.00 price objective for the company. in a report on Wednesday, July 22nd. Wells Fargo & Company lifted their price objective on Marsh & McLennan Companies from $186.00 to $188.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. Finally, Piper Sandler decreased their target price on Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating on the stock in a report on Tuesday, May 26th. One equities 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $203.50.

Marsh & McLennan Companies Trading Up 1.0%

Shares of NYSE:MRSH opened at $192.17 on Friday. The firm has a 50-day simple moving average of $179.88. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.22. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $212.65. The company has a market cap of $91.71 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 2.73 and a beta of 0.59.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.07. The business 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 firm's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts forecast 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 was paid on Friday, August 14th. Investors of record on Thursday, July 23rd were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, July 23rd. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.90. Marsh & McLennan Companies's dividend payout ratio (DPR) is presently 48.41%.

Marsh & McLennan Companies Company 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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