Congress Asset Management Co. Raises Stock Holdings in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Congress Asset Management increased its Marsh & McLennan position by 479.3% in the third quarter, adding 10,004 shares for a total holding valued at approximately $2.06 million. Institutional investors collectively own 87.99% of the stock.
• Marsh & McLennan reported quarterly EPS of $2.96, beating estimates of $2.89, while revenue rose 6.2% year over year to $7.28 billion. The company also declared a quarterly dividend of $0.99 per share, equivalent to a 2.3% yield.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $202.12, compared with its reported share price of $173.53.

Congress Asset Management Co. boosted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 479.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,091 shares of the financial services provider's stock after buying an additional 10,004 shares during the period. Congress Asset Management Co.'s holdings in Marsh & McLennan Companies were worth $2,064,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRSH. Solstein Capital LLC acquired a new stake in Marsh & McLennan Companies in the fourth quarter valued at about $25,000. Asset Dedication LLC acquired a new position in Marsh & McLennan Companies during the first quarter worth about $25,000. SHP Wealth Management bought a new position in shares of Marsh & McLennan Companies in the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. bought a new stake in shares of Marsh & McLennan Companies during the 1st quarter valued at approximately $28,000. Finally, Canton Hathaway LLC acquired a new position in Marsh & McLennan Companies during the 1st quarter worth approximately $28,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Up 1.0%

Shares of NYSE:MRSH opened at $173.53 on Thursday. The company has a market cap of $82.81 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 2.38 and a beta of 0.59. Marsh & McLennan Companies, Inc. has a 12-month low of $156.60 and a 12-month high of $207.82. The stock's fifty day moving average is $182.82. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.14 and a current ratio of 1.14.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities research analysts expect that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Thursday, October 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, October 1st. Marsh & McLennan Companies's dividend payout ratio is currently 48.41%.

Analysts Set New Price Targets

MRSH has been the subject of several research analyst reports. Morgan Stanley lowered their price target on shares of Marsh & McLennan Companies from $200.00 to $180.00 and set an "equal weight" rating for the company in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Marsh & McLennan Companies from $212.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday, October 1st. Mizuho lowered their target price on Marsh & McLennan Companies from $201.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday. UBS Group lifted their price target on Marsh & McLennan Companies from $216.00 to $222.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Citigroup cut Marsh & McLennan Companies from a "buy" rating to a "neutral" rating and set a $200.00 price target on the stock. in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Marsh & McLennan Companies currently has a consensus rating of "Hold" and a consensus price target of $202.12.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, SVP Paul Beswick sold 713 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total transaction of $141,174.00. Following the completion of the sale, the senior vice president directly owned 16,376 shares in the company, valued at approximately $3,242,448. This trade represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Martin South sold 7,100 shares of the business'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 completion of the transaction, the insider directly owned 16,632 shares in the company, valued at $3,159,913.68. This represents a 29.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,813 shares of company stock worth $3,597,903 over the last three months. 0.38% of the stock is owned by company insiders.

Marsh & McLennan Companies Profile

Marsh & McLennan Companies, now operating under the name Marsh McLennan, is a global professional services firm that provides advice and solutions in risk, strategy and people. The company serves businesses, governments and institutions through four principal businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman.

Marsh is an insurance brokerage and risk adviser that helps clients identify, manage and transfer risk. Guy Carpenter provides reinsurance brokerage and advisory services to insurance companies.

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