Pitcairn Co. Sells 5,806 Shares of Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Pitcairn Co. reduced its stake in Marsh & McLennan by 56.7% in the third quarter, selling 5,806 shares and leaving it with 4,435 shares worth about $894,000.
• CEO John Q. Doyle sold 16,655 shares on March 4 at an average price of $183.30 for roughly $3.05 million, cutting his ownership by 12.48% to 116,811 shares.
• Company results and payout: Marsh & McLennan beat quarterly estimates with $2.12 EPS (vs. $1.97) and $6.60B revenue, and declared a $0.90 quarterly dividend ($3.60 annual, ~2.0% yield) with an ex‑dividend date of April 9.

Pitcairn Co. lessened its holdings in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 56.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,435 shares of the financial services provider's stock after selling 5,806 shares during the period. Pitcairn Co.'s holdings in Marsh & McLennan Companies were worth $894,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new position in Marsh & McLennan Companies during the 3rd quarter worth approximately $25,000. Headlands Technologies LLC acquired a new stake in Marsh & McLennan Companies in the second quarter valued at approximately $29,000. Delos Wealth Advisors LLC acquired a new position in shares of Marsh & McLennan Companies during the second quarter worth $32,000. TruNorth Capital Management LLC bought a new position in shares of Marsh & McLennan Companies in the 3rd quarter valued at $32,000. Finally, Hanson & Doremus Investment Management boosted its holdings in shares of Marsh & McLennan Companies by 31.3% during the 3rd quarter. Hanson & Doremus Investment Management now owns 214 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 87.99% of the company's stock.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 16,655 shares of Marsh & McLennan Companies stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $183.30, for a total transaction of $3,052,861.50. Following the completion of the transaction, the chief executive officer owned 116,811 shares of the company's stock, valued at $21,411,456.30. This trade 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 available at the SEC website. 0.35% of the stock is currently owned by company insiders.

Marsh & McLennan Companies Price Performance

Shares of MRSH stock opened at $183.43 on Friday. Marsh & McLennan Companies, Inc. has a 1-year low of $170.37 and a 1-year high of $248.00. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $88.80 billion, a PE ratio of 21.76, a P/E/G ratio of 2.52 and a beta of 0.74.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.97 by $0.15. The company had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.52 billion. Marsh & McLennan Companies had a return on equity of 31.60% and a net margin of 15.42%.The firm's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.87 earnings per share. Research analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current year.

Marsh & McLennan Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, April 9th. Marsh & McLennan Companies's dividend payout ratio is currently 42.70%.

Wall Street Analyst Weigh In

MRSH has been the subject of a number of recent research reports. Weiss Ratings began coverage on Marsh & McLennan Companies in a report on Thursday, January 29th. They issued a "hold (c)" rating for the company. Wells Fargo & Company lifted their price target on Marsh & McLennan Companies from $199.00 to $203.00 and gave the company an "equal weight" rating in a research note on Friday, January 30th. Citigroup upped their price objective on Marsh & McLennan Companies from $201.00 to $205.00 and gave the company a "neutral" rating in a research note on Tuesday, February 3rd. Evercore cut their target price on shares of Marsh & McLennan Companies from $237.00 to $236.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 7th. Finally, Mizuho reissued a "neutral" rating and set a $199.00 target price (down from $213.00) on shares of Marsh & McLennan Companies in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $216.18.

Marsh & McLennan Companies Company Profile

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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