Calamos Advisors LLC Takes $23.26 Million Position in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Calamos Advisors LLC opened a new position in Marsh & McLennan Companies, buying 134,122 shares valued at about $23.26 million in the first quarter.
• The company reported solid quarterly results, with EPS of $3.29 beating estimates and revenue up 7.6% year over year to $7.30 billion.
• Marsh & McLennan also raised its quarterly dividend to $0.99 per share from $0.90, while analysts currently maintain a Hold consensus rating with an average price target of $200.81.

Calamos Advisors LLC purchased a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 134,122 shares of the financial services provider's stock, valued at approximately $23,263,000.

Several other large investors have also bought and sold shares of the business. Solstein Capital LLC acquired a new stake in Marsh & McLennan Companies during the 4th quarter worth $25,000. SHP Wealth Management acquired a new position in shares of Marsh & McLennan Companies in the 4th quarter valued at $26,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Marsh & McLennan Companies in the 4th quarter worth $27,000. Golden State Wealth Management LLC acquired a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth $27,000. Finally, Pinnacle Bancorp Inc. bought a new stake in Marsh & McLennan Companies in the first quarter valued at about $28,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marsh & McLennan Companies

In related 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 value of $2,693,441.76. Following the sale, the chief executive officer directly owned 116,811 shares of the company's stock, valued at approximately $18,889,506.81. The trade was a 12.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MRSH has been the topic of a number of recent analyst reports. Weiss Ratings cut Marsh & McLennan Companies from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Bank of America cut their price target on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 14th. JPMorgan Chase & Co. lifted their price objective on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Monday. Wells Fargo & Company lowered their target price on shares of Marsh & McLennan Companies from $203.00 to $178.00 and set an "equal weight" rating for the company in a research note on Thursday, April 9th. Finally, Morgan Stanley cut their target price on shares of Marsh & McLennan Companies from $180.00 to $175.00 and set an "equal weight" rating on the stock in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Marsh & McLennan Companies has an average rating of "Hold" and a consensus target price of $200.81.

Marsh & McLennan Companies Stock Down 1.7%

NYSE MRSH opened at $178.38 on Wednesday. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $216.32. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.28. The stock has a market cap of $86.17 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.64 and a beta of 0.61.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.21 by $0.08. The business had revenue of $7.30 billion during the quarter. Marsh & McLennan Companies had a return on equity of 31.87% and a net margin of 14.26%.Marsh & McLennan Companies's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 10.37 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd will be given 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 of this dividend is Thursday, July 23rd. Marsh & McLennan Companies's payout ratio is currently 45.00%.

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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