State of Michigan Retirement System Cuts Stake in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• State of Michigan Retirement System trimmed its stake in Marsh & McLennan by 4.6% in Q4, selling 6,400 shares and leaving it with 132,575 shares valued at about $24.6 million; institutional investors now own roughly 87.99% of the stock.
• Quarterly results and dividend: MMC reported $3.29 EPS (beating the $3.21 estimate) on $7.30 billion revenue (up 7.6% YoY) and announced a $0.90 quarterly dividend ($3.60 annualized, a 2.1% yield and a 45% payout ratio).
• Insider selling: CEO John Q. Doyle sold 16,655 shares at an average price of $183.30 (≈$3.05 million), reducing his holding by 12.48%; company insiders collectively own about 0.38% of the stock.

State of Michigan Retirement System reduced its position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,575 shares of the financial services provider's stock after selling 6,400 shares during the quarter. State of Michigan Retirement System's holdings in Marsh & McLennan Companies were worth $24,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. D.A. Davidson & CO. raised its holdings in shares of Marsh & McLennan Companies by 1.2% in the third quarter. D.A. Davidson & CO. now owns 4,514 shares of the financial services provider's stock worth $910,000 after buying an additional 54 shares during the last quarter. Procyon Advisors LLC raised its holdings in shares of Marsh & McLennan Companies by 2.5% in the fourth quarter. Procyon Advisors LLC now owns 2,279 shares of the financial services provider's stock worth $423,000 after buying an additional 56 shares during the last quarter. PFG Investments LLC raised its holdings in shares of Marsh & McLennan Companies by 3.3% in the fourth quarter. PFG Investments LLC now owns 1,758 shares of the financial services provider's stock worth $326,000 after buying an additional 56 shares during the last quarter. Lindenwold Advisors INC raised its holdings in shares of Marsh & McLennan Companies by 0.4% in the third quarter. Lindenwold Advisors INC now owns 14,994 shares of the financial services provider's stock worth $3,022,000 after buying an additional 62 shares during the last quarter. Finally, Ashton Thomas Securities LLC raised its holdings in shares of Marsh & McLennan Companies by 1.8% in the third quarter. Ashton Thomas Securities LLC now owns 3,663 shares of the financial services provider's stock worth $736,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company's stock.

Marsh & McLennan Companies Price Performance

MRSH stock opened at $170.31 on Tuesday. The company has a fifty day simple moving average of $173.87. The stock has a market cap of $82.06 billion, a P/E ratio of 21.29, a P/E/G ratio of 2.48 and a beta of 0.75. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11. Marsh & McLennan Companies, Inc. has a 12 month low of $164.89 and a 12 month high of $235.78.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.08. The firm had revenue of $7.30 billion during the quarter. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 10.36 earnings per share for the current year.

Marsh & McLennan Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 9th. Marsh & McLennan Companies's payout ratio is 45.00%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup raised their price target on shares of Marsh & McLennan Companies from $201.00 to $205.00 and gave the stock a "neutral" rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Marsh & McLennan Companies from $226.00 to $206.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Bank of America dropped their price objective on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $200.00 price objective on shares of Marsh & McLennan Companies in a report on Friday, January 30th. Finally, Raymond James Financial raised shares of Marsh & McLennan Companies from an "outperform" rating to a "strong-buy" rating and set a $225.00 price objective on the stock in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $205.33.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 16,655 shares of Marsh & McLennan Companies stock in a transaction that occurred 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 directly owned 116,811 shares of the company's stock, valued at $21,411,456.30. The trade was a 12.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.

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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