Mirae Asset Global Investments Co. Ltd. Acquires New Holdings in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Mirae Asset Global Investments acquired 119,936 Marsh & McLennan shares worth approximately $20.5 million in the third quarter. Institutional investors collectively own 87.99% of the company.
• Marsh & McLennan reported quarterly EPS of $2.03, beating estimates by $0.07, while revenue rose 8.1% year over year to $6.86 billion. The company also declared a quarterly dividend of $0.99 per share, equating to a 1.9% yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $204.42, near the stock’s $205.66 trading price. CEO and VP stock sales were conducted under pre-arranged Rule 10b5-1 plans.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 119,936 shares of the financial services provider's stock, valued at approximately $20,477,000.

A number of other large investors also recently modified their holdings of MRSH. Asset Dedication LLC acquired a new stake in shares of Marsh & McLennan Companies during the 1st quarter valued at $25,000. EFG International AG acquired a new position in Marsh & McLennan Companies in the 2nd quarter worth about $30,000. Bell Investment Advisors Inc acquired a new position in Marsh & McLennan Companies in the 2nd quarter worth about $31,000. Trifecta Capital Advisors LLC bought a new position in Marsh & McLennan Companies in the first quarter valued at about $35,000. Finally, Scarborough Advisors LLC bought a new position in Marsh & McLennan Companies in the first quarter valued at about $38,000. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Trading Up 2.5%

Shares of MRSH opened at $205.66 on Tuesday. The firm has a market cap of $97.80 billion, a P/E ratio of 24.60, a PEG ratio of 2.60 and a beta of 0.59. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $206.49. The stock's 50-day moving average is $182.64. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.09 and a quick ratio of 1.09.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.07. The firm had revenue of $6.86 billion for the quarter. Marsh & McLennan Companies had a return on equity of 33.32% and a net margin of 14.20%. The company's revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Marsh & McLennan Companies, Inc. will post 10.48 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

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

Insider Buying and Selling

In other Marsh & McLennan Companies news, CEO Dean Klisura sold 4,194 shares of the 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 $838,800.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Stacy Mills sold 1,215 shares of the firm's stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $200.00, for a total transaction of $243,000.00. Following the transaction, 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 SEC filing for this sale provides additional information. 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. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

MRSH has been the topic of several research reports. UBS Group boosted their price target on Marsh & McLennan Companies from $216.00 to $222.00 and gave the stock a "buy" rating in a report on Tuesday, October 6th. BMO Capital Markets lowered their price objective on 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. Evercore dropped their price objective on shares of Marsh & McLennan Companies from $234.00 to $224.00 in a report on Thursday, October 8th. Morgan Stanley cut their target price on shares of 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. Finally, Erste Group Bank raised shares of Marsh & McLennan Companies to a "strong-buy" rating in a report on Tuesday, September 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.

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