VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 23,521 Shares of Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Virginia Retirement Systems purchased 23,521 shares of Marsh & McLennan Companies worth approximately $4.0 million in the third quarter. Institutional investors collectively own 87.99% of the company.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $204.42. Recent actions included target-price cuts from Morgan Stanley and BMO Capital Markets, alongside upgrades from other analysts.
• Marsh & McLennan exceeded quarterly earnings expectations, reporting $2.03 in EPS on $6.86 billion in revenue, up 8.1% year over year. The company also declared a quarterly dividend of $0.99 per share, representing a 2.0% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,521 shares of the financial services provider's stock, valued at approximately $4,016,000.

Other hedge funds also recently modified their holdings of the company. Asset Dedication LLC bought a new position in Marsh & McLennan Companies in the first quarter valued at about $25,000. EFG International AG bought a new stake in shares of Marsh & McLennan Companies during the second quarter worth about $30,000. Bell Investment Advisors Inc bought a new stake in shares of Marsh & McLennan Companies during the second quarter worth about $31,000. Trifecta Capital Advisors LLC acquired a new position in shares of Marsh & McLennan Companies in the second quarter valued at approximately $34,000. Finally, Frazier Financial Advisors LLC bought a new position in Marsh & McLennan Companies in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 87.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MRSH shares. Morgan Stanley reduced 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 report on Tuesday, October 6th. BMO Capital Markets dropped their price target on shares of 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. Cantor Fitzgerald lifted their price target on shares of Marsh & McLennan Companies from $212.00 to $218.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Citigroup boosted their price objective on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a "neutral" rating in a research note on Friday, October 16th. Finally, Weiss Ratings upgraded Marsh & McLennan Companies from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $204.42.

Insiders Place Their Bets

In related news, 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 completion of the sale, the vice president owned 2,705 shares of the company's stock, valued at $541,000. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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. Also, CEO Dean Klisura sold 4,194 shares of Marsh & McLennan Companies stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $200.00, for a total value 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. The trade was a 16.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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

NYSE:MRSH opened at $200.52 on Monday. 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, Inc. has a fifty-two week low of $156.60 and a fifty-two week high of $202.70. The firm's 50 day moving average price is $182.37. The firm has a market cap of $95.35 billion, a P/E ratio of 23.99, a PEG ratio of 2.71 and a beta of 0.53.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its quarterly earnings data 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. Marsh & McLennan Companies had a net margin of 14.20% and a return on equity of 33.32%. The company had revenue of $6.86 billion for the quarter. The firm's quarterly revenue was up 8.1% on a year-over-year basis. Research analysts predict that Marsh & McLennan Companies, Inc. will post 10.48 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $3.96 dividend on an annualized basis and a yield of 2.0%. Marsh & McLennan Companies's dividend payout ratio is 47.37%.

Marsh & McLennan Companies Company Profile

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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