Marsh & McLennan Companies, Inc. $MRSH Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System dramatically increased its Marsh & McLennan position, purchasing nearly 122 million additional shares and bringing its ownership to approximately 25.7%, valued at $20.4 billion.
• Marsh & McLennan beat quarterly earnings expectations, reporting $2.96 EPS on $7.28 billion in revenue, with revenue up 6.2% year over year. The company also raised its quarterly dividend to $0.99, or $3.96 annually.
• Analyst sentiment remains mixed but leans positive, with a consensus “Hold” rating and an average price target of $203.50 versus a recent share price of $185.80; insiders sold nearly $3.6 million of stock over the past 90 days.

California State Teachers Retirement System boosted its position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 16,707.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,656,786 shares of the financial services provider's stock after purchasing an additional 121,926,988 shares during the period. California State Teachers Retirement System owned about 25.70% of Marsh & McLennan Companies worth $20,443,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC grew its holdings in Marsh & McLennan Companies by 0.8% in the second quarter. EP Wealth Advisors LLC now owns 8,337 shares of the financial services provider's stock valued at $1,823,000 after purchasing an additional 69 shares during the last quarter. Continuum Advisory LLC boosted its position in shares of Marsh & McLennan Companies by 5.3% in the 1st quarter. Continuum Advisory LLC now owns 1,452 shares of the financial services provider's stock worth $252,000 after buying an additional 73 shares in the last quarter. Clearstead Trust LLC grew its stake 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 acquiring an additional 75 shares during the last quarter. Boyd Watterson Asset Management LLC OH increased its holdings in Marsh & McLennan Companies by 1.2% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 6,791 shares of the financial services provider's stock valued at $1,260,000 after acquiring an additional 80 shares in the last quarter. Finally, Columbia Bank raised its position in Marsh & McLennan Companies by 5.1% during the first quarter. Columbia Bank now owns 1,736 shares of the financial services provider's stock worth $301,000 after acquiring an additional 85 shares during the last quarter. Institutional investors and hedge funds own 87.99% of the company's stock.

Marsh & McLennan Companies Stock Performance

Shares of NYSE MRSH opened at $185.80 on Tuesday. The firm has a market capitalization of $88.67 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.58 and a beta of 0.58. 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, Inc. has a 1 year low of $156.60 and a 1 year high of $207.82. The stock's 50 day moving average price is $185.49.

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. The company's revenue was up 6.2% on a year-over-year basis. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 10.44 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.90. Marsh & McLennan Companies's dividend payout ratio is 48.41%.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, Director Lloyd M. Yates sold 12,000 shares of the business's stock in a transaction that occurred on 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 directly owned 12,001 shares in the company, valued at approximately $2,107,975.65. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Martin South sold 7,100 shares of the business's stock in a transaction 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. This represents a 29.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,813 shares of company stock worth $3,597,903 in the last 90 days. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Marsh & McLennan Companies from $186.00 to $188.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their target price on Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Weiss Ratings upgraded Marsh & McLennan Companies from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. UBS Group boosted their price target on Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Cantor Fitzgerald increased their price objective on Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has assigned 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 $203.50.

Marsh & McLennan Companies Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.