Epoch Investment Partners Inc. Sells 73,473 Shares of Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Epoch Investment Partners cut its Marsh & McLennan position by 10.2% in the first quarter, selling 73,473 shares and leaving it with 644,170 shares valued at about $111.7 million.
• Marsh & McLennan reported strong quarterly results, with EPS of $2.96 beating estimates and revenue rising 6.2% year over year to $7.28 billion.
• The company also raised its dividend to $0.99 per share quarterly, while analysts currently hold a consensus rating of “Hold” with an average price target of $201.69.

Epoch Investment Partners Inc. decreased its position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 644,170 shares of the financial services provider's stock after selling 73,473 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.13% of Marsh & McLennan Companies worth $111,731,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Bridgewater Advisors Inc. purchased a new stake in Marsh & McLennan Companies in the first quarter worth about $775,000. Gabelli Funds LLC purchased a new position in shares of Marsh & McLennan Companies during the first quarter valued at approximately $10,528,000. Gamco Investors INC. ET AL bought a new stake in shares of Marsh & McLennan Companies in the 1st quarter worth approximately $3,408,000. Compound Planning Inc. grew its stake in shares of Marsh & McLennan Companies by 53.2% in the 1st quarter. Compound Planning Inc. now owns 4,210 shares of the financial services provider's stock worth $730,000 after buying an additional 1,462 shares during the last quarter. Finally, Modern Wealth Management LLC increased its position in Marsh & McLennan Companies by 23.6% during the 1st quarter. Modern Wealth Management LLC now owns 1,611 shares of the financial services provider's stock valued at $277,000 after buying an additional 308 shares in the last quarter. Institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Stock Up 2.4%

Marsh & McLennan Companies stock opened at $180.66 on Friday. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $213.80. The firm has a market cap of $86.21 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.11 and a current ratio of 1.14.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its earnings results 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 for the quarter. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The business's quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.41 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. Investors of record on Thursday, July 23rd will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 2.2%. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.90. The ex-dividend date is Thursday, July 23rd. Marsh & McLennan Companies's payout ratio is currently 48.41%.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of Marsh & McLennan Companies stock in a transaction that occurred 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 completion of the sale, the chief executive officer 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 document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on MRSH. Piper Sandler dropped 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. JPMorgan Chase & Co. lifted their price target on Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Weiss Ratings downgraded shares of Marsh & McLennan Companies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods lifted their target price on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a "market perform" rating in a report on Friday, April 17th. Finally, Cantor Fitzgerald upped their target price on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $201.69.

Marsh & McLennan Companies 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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