Marsh & McLennan Companies, Inc. $MRSH Shares Sold by Bank Pictet & Cie Europe AG

Key Points

• Bank Pictet & Cie Europe AG cut its Marsh & McLennan stake by 22.5% in the third quarter, selling 25,358 shares and retaining 87,306 shares valued at approximately $14.9 million. Institutional investors collectively own 87.99% of the company.
• Marsh & McLennan reported quarterly EPS of $2.03, exceeding analyst estimates of $1.96, while revenue rose 8.1% year over year to $6.86 billion. The stock recently traded at $190.36, near its 12-month high of $198.49.
• The company declared a quarterly dividend of $0.99 per share, equivalent to an annualized $3.96 payout and a 2.1% yield. Analysts maintained a generally cautious outlook, with a consensus rating of “Hold” and an average price target of $204.42.

Bank Pictet & Cie Europe AG trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 22.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,306 shares of the financial services provider's stock after selling 25,358 shares during the period. Bank Pictet & Cie Europe AG's holdings in Marsh & McLennan Companies were worth $14,906,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MRSH. Net Worth Advisory Group grew its holdings in shares of Marsh & McLennan Companies by 17.9% in the 3rd quarter. Net Worth Advisory Group now owns 4,735 shares of the financial services provider's stock worth $814,000 after acquiring an additional 720 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Marsh & McLennan Companies by 9.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 153,200 shares of the financial services provider's stock worth $26,156,000 after purchasing an additional 12,907 shares during the period. Novem Group lifted its holdings in shares of Marsh & McLennan Companies by 2.5% during the third quarter. Novem Group now owns 6,447 shares of the financial services provider's stock valued at $1,101,000 after purchasing an additional 155 shares during the last quarter. AA Financial Advisors LLC lifted its holdings in shares of Marsh & McLennan Companies by 3.2% during the third quarter. AA Financial Advisors LLC now owns 5,851 shares of the financial services provider's stock valued at $999,000 after purchasing an additional 183 shares during the last quarter. Finally, Abel Hall LLC acquired a new position in shares of Marsh & McLennan Companies in the 3rd quarter valued at $262,000. Institutional investors and hedge funds own 87.99% of the company's stock.

Marsh & McLennan Companies Stock Performance

NYSE:MRSH traded up $1.86 during trading hours on Tuesday, hitting $190.36. 692,572 shares of the company's stock traded hands, compared to its average volume of 2,804,552. The stock has a fifty day moving average price of $181.14. The stock has a market cap of $90.52 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 2.61 and a beta of 0.59. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.09 and a current ratio of 1.09. Marsh & McLennan Companies, Inc. has a twelve month low of $156.60 and a twelve month high of $198.49.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $2.03 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.07. Marsh & McLennan Companies had a return on equity of 33.32% and a net margin of 14.20%. The firm had revenue of $6.86 billion during the quarter. The business's revenue was up 8.1% on a year-over-year basis. On average, equities research analysts predict that Marsh & McLennan Companies, Inc. will post 10.45 earnings per share for the current 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 given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, October 1st. Marsh & McLennan Companies's dividend payout ratio is 47.37%.

Insider Buying and Selling

In related news, insider Martin South sold 7,100 shares of the firm'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 completion of the sale, the insider directly owned 16,632 shares in the company, valued at approximately $3,159,913.68. This trade represents a 29.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lloyd 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 transaction of $2,107,800.00. Following the transaction, the director directly owned 12,001 shares in the company, valued at $2,107,975.65. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 19,813 shares of company stock worth $3,597,903. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Jefferies Financial Group dropped their price target on Marsh & McLennan Companies from $193.00 to $188.00 and set a "hold" rating on the stock in a research note on Wednesday, September 30th. BMO Capital Markets reduced their price objective on shares of Marsh & McLennan Companies from $203.00 to $179.00 and set a "market perform" rating for the company in a research note on Thursday, October 1st. Mizuho raised their target price on shares of Marsh & McLennan Companies from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Monday. The Goldman Sachs Group dropped their target price on shares of Marsh & McLennan Companies from $197.00 to $191.00 and set a "neutral" rating on the stock in a research report on Thursday, October 1st. Finally, Weiss Ratings upgraded shares of Marsh & McLennan Companies from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Marsh & McLennan Companies has an average rating of "Hold" and a consensus target price of $204.42.

About Marsh & McLennan Companies

Marsh & McLennan Companies is a global professional services firm that provides advice and solutions in risk, strategy and people. The company serves businesses, governments and institutions through a portfolio of specialized businesses focused on insurance brokerage, reinsurance, consulting and talent management.

Its principal businesses include Marsh, an insurance brokerage and risk advisory firm; Guy Carpenter, a provider of reinsurance brokerage and related risk-management services; Mercer, which offers consulting in investment, retirement, health and workforce strategy; and Oliver Wyman, a management consulting firm serving clients across industries and regions.

Founded in 1905, Marsh & McLennan serves clients in countries and markets around the world.

Want to see what other hedge funds are holding MRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report).

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.