Marsh & McLennan Companies, Inc. $MRSH Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Marsh & McLennan stake by 15.9% in the third quarter, selling 81,645 shares and retaining 433,223 shares valued at about $74 million.
• Marsh & McLennan reported quarterly EPS of $2.03, beating the $1.96 consensus, while revenue rose 8.1% year over year to $6.86 billion.
• The company announced a quarterly dividend of $0.99 per share, equivalent to $3.96 annually and a 1.9% yield. Analysts’ consensus rating was “Hold,” with an average price target of $205.84.

Pictet Asset Management Holding SA lowered its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 15.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,223 shares of the financial services provider's stock after selling 81,645 shares during the quarter. Pictet Asset Management Holding SA owned about 0.09% of Marsh & McLennan Companies worth $73,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Dedication LLC purchased a new stake in shares of Marsh & McLennan Companies during the first quarter valued at about $25,000. Quest 10 Wealth Builders Inc. raised its stake in shares of Marsh & McLennan Companies by 95.0% during the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 156 shares of the financial services provider's stock worth $27,000 after acquiring an additional 76 shares in the last quarter. EFG International AG bought a new position in shares of Marsh & McLennan Companies during the 2nd quarter worth approximately $30,000. Bell Investment Advisors Inc purchased a new stake in Marsh & McLennan Companies during the second quarter valued at approximately $31,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in Marsh & McLennan Companies during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Price Performance

NYSE MRSH opened at $204.59 on Tuesday. Marsh & McLennan Companies, Inc. has a 1 year low of $156.60 and a 1 year high of $214.00. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $97.29 billion, a P/E ratio of 24.47, a PEG ratio of 2.84 and a beta of 0.53. The firm's fifty day simple moving average is $184.01.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last announced its earnings results on Thursday, October 15th. The financial services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.07. The business had revenue of $6.86 billion during the quarter. Marsh & McLennan Companies had a return on equity of 33.32% and a net margin of 14.20%. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts expect that Marsh & McLennan Companies, Inc. will post 10.49 earnings per share for the current year.

Marsh & McLennan Companies Announces Dividend

The firm also recently announced 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 1.9%. The ex-dividend date is Thursday, October 1st. Marsh & McLennan Companies's dividend payout ratio is 47.37%.

Analyst Upgrades and Downgrades

MRSH has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on Marsh & McLennan Companies from $200.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 6th. Evercore dropped their target price on Marsh & McLennan Companies from $234.00 to $224.00 in a research note on Thursday, October 8th. JPMorgan Chase & Co. upped their target price on Marsh & McLennan Companies from $215.00 to $218.00 and gave the company an "overweight" rating in a research report on Tuesday, October 20th. Jefferies Financial Group decreased their price target on Marsh & McLennan Companies from $193.00 to $188.00 and set a "hold" rating for the company in a research note on Wednesday, September 30th. Finally, BMO Capital Markets raised Marsh & McLennan Companies from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $204.00 to $230.00 in a report on Tuesday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Marsh & McLennan Companies presently has an average rating of "Hold" and a consensus target price of $205.84.

Insider Transactions at Marsh & McLennan Companies

In other news, VP Stacy Mills sold 1,215 shares of Marsh & McLennan Companies stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $200.00, for a total transaction of $243,000.00. Following the sale, the vice president owned 2,705 shares of the company's stock, valued at approximately $541,000. The trade was a 30.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Dean Klisura sold 4,194 shares of the stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $200.00, for a total value of $838,800.00. Following the transaction, the chief executive officer owned 20,935 shares of the company's stock, valued at approximately $4,187,000. This represents a 16.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.38% of the company's stock.

Marsh & McLennan Companies Profile

Marsh & McLennan Companies, now known as Marsh, is a professional services firm focused on risk, strategy and people. Its businesses help organizations assess and manage risk, arrange insurance and reinsurance, and address workforce and organizational challenges.

The company operates through Marsh, an insurance brokerage and risk advisory business; Guy Carpenter, which specializes in reinsurance and related risk services; Mercer, which provides health, wealth and career consulting; and Oliver Wyman, a management consulting firm.

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