Engineers Gate Manager LP Trims Stock Holdings in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Engineers Gate Manager LP cut its Marsh & McLennan stake by 93.5% in the second quarter, selling 23,685 shares and retaining 1,650 shares valued at approximately $275,000. Institutional investors collectively own 87.99% of the company.
• Marsh & McLennan insiders sold 19,813 shares worth about $3.6 million over the past 90 days, including sales by insider Martin South and director Lloyd M. Yates.
• The company exceeded quarterly earnings expectations, reporting $2.96 in EPS and $7.28 billion in revenue, while analysts maintain a consensus “Hold” rating with a $203.50 price target. Marsh & McLennan also declared a quarterly dividend of $0.99 per share, equivalent to a 2.3% annual yield.

Engineers Gate Manager LP cut its stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 93.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,650 shares of the financial services provider's stock after selling 23,685 shares during the quarter. Engineers Gate Manager LP's holdings in Marsh & McLennan Companies were worth $275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Continuum Advisory LLC lifted its holdings in Marsh & McLennan Companies by 5.3% during the first quarter. Continuum Advisory LLC now owns 1,452 shares of the financial services provider's stock worth $252,000 after acquiring an additional 73 shares in the last quarter. Clearstead Trust LLC raised its position in Marsh & McLennan Companies by 12.6% in the 1st quarter. Clearstead Trust LLC now owns 668 shares of the financial services provider's stock valued at $116,000 after buying an additional 75 shares during the last quarter. Columbia Bank grew its stake in shares of Marsh & McLennan Companies by 5.1% during the 1st quarter. Columbia Bank now owns 1,736 shares of the financial services provider's stock worth $301,000 after acquiring an additional 85 shares in the last quarter. Capital Analysts LLC raised its holdings in shares of Marsh & McLennan Companies by 37.4% in the second quarter. Capital Analysts LLC now owns 312 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 85 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp lifted its position in shares of Marsh & McLennan Companies by 26.8% in the second quarter. KERR FINANCIAL PLANNING Corp now owns 454 shares of the financial services provider's stock worth $76,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 87.99% of the company's stock.

Insider Activity

In other Marsh & McLennan Companies news, insider Martin South sold 7,100 shares of the business'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 sale, the insider directly owned 16,632 shares of the company's stock, valued at $3,159,913.68. The trade was a 29.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lloyd M. Yates sold 12,000 shares of the company's stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $175.65, for a total value of $2,107,800.00. Following the completion of the sale, the director owned 12,001 shares in the company, valued at $2,107,975.65. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 19,813 shares of company stock worth $3,597,903. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Weiss Ratings upgraded Marsh & McLennan Companies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 7th. Mizuho raised their target price on shares of Marsh & McLennan Companies from $197.00 to $201.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. Wells Fargo & Company lifted their price target 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, Citigroup lowered Marsh & McLennan Companies from a "buy" rating to a "neutral" rating and set a $200.00 price objective on the stock. in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Marsh & McLennan Companies currently has an average rating of "Hold" and a consensus price target of $203.50.

Marsh & McLennan Companies Trading Up 0.8%

Shares of MRSH opened at $171.22 on Friday. The company has a market capitalization of $81.71 billion, a PE ratio of 20.93, a PEG ratio of 2.37 and a beta of 0.58. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $207.82. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.14 and a quick ratio of 1.14. The stock's 50 day simple moving average is $184.85.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $0.07. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The firm had revenue of $7.28 billion for the quarter. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts predict that Marsh & McLennan Companies, Inc. will post 10.44 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

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

About Marsh & McLennan Companies

Marsh & McLennan Companies, now operating under the name Marsh McLennan, is a global professional services firm that helps organizations manage risk, strategy and people-related challenges. Its businesses serve corporations, governments, institutional investors and other organizations across a broad range of industries and geographies.

The company's principal businesses include Marsh, an insurance brokerage and risk advisory firm; Guy Carpenter, which provides reinsurance brokerage and related risk management services; Mercer, which offers consulting in areas such as talent, health, retirement and investments; and Oliver Wyman, a management consulting firm.

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