Marsh & McLennan Companies, Inc. $MRSH Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies reduced its Marsh & McLennan position by 8.1% in the first quarter, selling 32,100 shares and retaining 365,500 shares worth approximately $63.4 million. Institutional investors collectively own 87.99% of the company.
• Marsh & McLennan exceeded quarterly earnings expectations, reporting $2.96 in EPS versus a $2.89 consensus estimate on $7.28 billion in revenue, up 6.2% year over year.
• The company increased its quarterly dividend to $0.99 per share, or $3.96 annually, representing a 2.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $201.69.

Renaissance Technologies LLC lowered its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 8.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 365,500 shares of the financial services provider's stock after selling 32,100 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of Marsh & McLennan Companies worth $63,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Solstein Capital LLC purchased a new stake in Marsh & McLennan Companies in the fourth quarter valued at $25,000. SHP Wealth Management purchased a new stake in Marsh & McLennan Companies in the 4th quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in Marsh & McLennan Companies during the fourth quarter worth about $27,000. Golden State Wealth Management LLC acquired a new position in shares of Marsh & McLennan Companies in the 4th quarter worth approximately $27,000. Finally, Pinnacle Bancorp Inc. acquired a new stake in Marsh & McLennan Companies in the 1st quarter valued at approximately $28,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO John Q. Doyle sold 16,656 shares of the company's stock in a transaction dated 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 directly owned 116,811 shares of the company's stock, valued at approximately $18,889,506.81. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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.

Marsh & McLennan Companies Stock Performance

MRSH stock opened at $180.66 on Monday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $156.60 and a fifty-two week high of $213.80. 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 company has a market cap of $86.21 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.60 and a beta of 0.61.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.96 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up 6.2% on a year-over-year basis. Analysts forecast that Marsh & McLennan Companies, Inc. will post 10.41 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders 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 dividend yield of 2.2%. This is a boost 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 48.41%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MRSH. Morgan Stanley lowered their price target on Marsh & McLennan Companies from $180.00 to $175.00 and set an "equal weight" rating for the company in a research report on Monday, July 6th. Weiss Ratings cut Marsh & McLennan Companies from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Bank of America dropped their target price on Marsh & McLennan Companies from $181.00 to $174.00 and set an "underperform" rating for the company in a research report on Tuesday, April 14th. Cantor Fitzgerald increased their price target on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Marsh & McLennan Companies from $186.00 to $188.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $201.69.

About Marsh & McLennan Companies

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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