Marsh & McLennan Companies, Inc. $MRSH Stock Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management reduced its Marsh & McLennan stake by 8.3% in the third quarter, selling 15,325 shares and retaining 168,280 shares valued at approximately $28.7 million. Institutional investors collectively own 87.99% of the company.
• Marsh & McLennan reported quarterly EPS of $2.03, beating analyst expectations of $1.96, while revenue rose 8.1% year over year to $6.86 billion. The company also announced a quarterly dividend of $0.99 per share, representing a 2.0% yield.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $204.42. Shares recently traded at $197.71, near their 52-week high of $200.33.

Sterling Capital Management LLC trimmed its holdings in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 8.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 168,280 shares of the financial services provider's stock after selling 15,325 shares during the quarter. Sterling Capital Management LLC's holdings in Marsh & McLennan Companies were worth $28,730,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Marsh & McLennan Companies during the 2nd quarter valued at about $6,583,806,000. Corient Private Wealth LP bought a new stake in shares of Marsh & McLennan Companies in the second quarter worth approximately $66,475,000. Deutsche Bank AG purchased a new position in shares of Marsh & McLennan Companies during the second quarter valued at approximately $685,621,000. Bank of America Corp DE bought a new position in Marsh & McLennan Companies during the second quarter valued at approximately $575,845,000. Finally, Bank of New York Mellon Corp bought a new position in Marsh & McLennan Companies during the second quarter valued at approximately $532,438,000. Hedge funds and other institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Trading Down 0.8%

MRSH stock traded down $1.56 during midday trading on Friday, reaching $197.71. 2,241,642 shares of the company's stock traded hands, compared to its average volume of 2,699,994. The stock's 50-day moving average is $181.60. The company has a market cap of $94.01 billion, a PE ratio of 23.65, a P/E/G ratio of 2.70 and a beta of 0.59. Marsh & McLennan Companies, Inc. has a 52-week low of $156.60 and a 52-week high of $200.33. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.27.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.07. Marsh & McLennan Companies had a net margin of 14.20% and a return on equity of 33.32%. The firm had revenue of $6.86 billion during the quarter. Marsh & McLennan Companies's revenue for the quarter was up 8.1% on a year-over-year basis. As a group, research analysts expect that Marsh & McLennan Companies, Inc. will post 10.47 EPS for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Thursday, October 1st 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 2.0%. The ex-dividend date of this dividend is Thursday, October 1st. Marsh & McLennan Companies's payout ratio is presently 47.37%.

Wall Street Analyst Weigh In

A number of research firms have commented on MRSH. JPMorgan Chase & Co. lifted their target price on shares of Marsh & McLennan Companies from $215.00 to $218.00 and gave the stock an "overweight" rating in a research report on Tuesday. 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. Cantor Fitzgerald lifted their price objective on Marsh & McLennan Companies from $212.00 to $218.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Weiss Ratings upgraded Marsh & McLennan Companies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Finally, UBS Group increased their target price on Marsh & McLennan Companies from $216.00 to $222.00 and gave the company a "buy" rating in a report on Tuesday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Marsh & McLennan Companies presently has a consensus rating of "Hold" and an average target price of $204.42.

Insider Buying and Selling

In related news, SVP Paul Beswick sold 713 shares of Marsh & McLennan Companies stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total transaction of $141,174.00. Following the sale, the senior vice president owned 16,376 shares of the company's stock, valued at approximately $3,242,448. This trade represents a 4.17% decrease in their position. The sale was disclosed in a document filed 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. Also, insider Martin South sold 7,100 shares of Marsh & McLennan Companies 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 sale, the insider owned 16,632 shares in the company, valued at approximately $3,159,913.68. The trade was a 29.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.38% of the company's stock.

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.

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