Bank of Nova Scotia Purchases 110,231 Shares of Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Bank of Nova Scotia increased its stake in Marsh & McLennan by 39% in the first quarter, buying 110,231 additional shares and bringing its total holding to 392,851 shares worth about $68.1 million.
• Marsh & McLennan reported better-than-expected quarterly earnings of $2.96 per share, topping 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 from $0.90, though analysts remain cautious overall with a consensus rating of “Hold” and a target price around $201.69.

Bank of Nova Scotia lifted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 39.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 392,851 shares of the financial services provider's stock after purchasing an additional 110,231 shares during the quarter. Bank of Nova Scotia owned 0.08% of Marsh & McLennan Companies worth $68,140,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. State Street Corp bought a new position in shares of Marsh & McLennan Companies during the 4th quarter worth approximately $4,057,682,000. Capital International Investors bought a new position in Marsh & McLennan Companies in the fourth quarter valued at $3,482,557,000. Capital World Investors acquired a new stake in 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 during the 4th quarter worth about $2,967,927,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Marsh & McLennan Companies during the 4th quarter worth about $1,710,101,000. Institutional investors own 87.99% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MRSH shares. Piper Sandler lowered their target price on Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 26th. Citigroup downgraded Marsh & McLennan Companies from a "buy" rating to a "neutral" rating and set a $200.00 price target for the company. in a research note on Wednesday. Morgan Stanley lowered their price target on Marsh & McLennan Companies from $180.00 to $175.00 and set an "equal weight" rating on the stock in a research report on Monday, July 6th. Bank of America cut their price objective on Marsh & McLennan Companies from $181.00 to $174.00 and set an "underperform" rating for the company in a report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $201.69.

Marsh & McLennan Companies Price Performance

Shares of MRSH stock opened at $180.66 on Friday. The stock has a market cap of $86.21 billion, a PE ratio of 22.09, a PEG ratio of 2.54 and a beta of 0.61. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $213.80. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 1.22.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies's revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts predict that Marsh & McLennan Companies, Inc. will post 10.41 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. Stockholders of record on Thursday, July 23rd will be issued a dividend of $0.99 per share. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.90. This represents a $3.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, July 23rd. Marsh & McLennan Companies's dividend payout ratio is presently 48.41%.

Insider Buying and Selling at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the completion of the sale, the chief executive officer owned 116,811 shares in the company, valued at approximately $18,889,506.81. The trade was a 12.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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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