W1M Asset Management Ltd Acquires New Shares in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• W1M Asset Management acquired 2.09 million shares of Marsh & McLennan, valued at approximately $348.2 million, making up 3.2% of its portfolio. Institutional investors collectively own 87.99% of the company.
• Marsh & McLennan exceeded quarterly earnings expectations, reporting EPS of $2.96 versus the $2.89 consensus, while revenue rose 6.2% year over year to $7.28 billion.
• The company increased its quarterly dividend from $0.90 to $0.99, equal to an annualized $3.96 payout and a 2.1% yield. Analysts maintain a consensus “Hold” rating with a $203.50 price target.

W1M Asset Management Ltd bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,090,489 shares of the financial services provider's stock, valued at approximately $348,202,000. Marsh & McLennan Companies makes up approximately 3.2% of W1M Asset Management Ltd's portfolio, making the stock its 15th largest position. W1M Asset Management Ltd owned approximately 0.44% of Marsh & McLennan Companies as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the business. Brighton Jones LLC grew its position in shares of Marsh & McLennan Companies by 51.2% in the 4th quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider's stock valued at $1,856,000 after purchasing an additional 2,960 shares during the period. Bison Wealth LLC lifted its stake in Marsh & McLennan Companies by 39.6% in the fourth quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider's stock valued at $651,000 after buying an additional 869 shares in the last quarter. Glenview Trust co boosted its holdings in shares of Marsh & McLennan Companies by 10.8% in the second quarter. Glenview Trust co now owns 3,897 shares of the financial services provider's stock valued at $852,000 after buying an additional 379 shares during the period. Osterweis Capital Management Inc. increased its position in shares of Marsh & McLennan Companies by 18,440.0% during the second quarter. Osterweis Capital Management Inc. now owns 927 shares of the financial services provider's stock worth $203,000 after acquiring an additional 922 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Marsh & McLennan Companies during the second quarter worth $1,307,000. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Price Performance

Marsh & McLennan Companies stock opened at $192.17 on Friday. The firm has a market cap of $91.71 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 2.75 and a beta of 0.59. The business's 50-day simple moving average is $179.88. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $212.65.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.07. The business had revenue of $7.28 billion for the quarter. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.The company's revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 10.43 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd were given a $0.99 dividend. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.1%. Marsh & McLennan Companies's payout ratio is 48.41%.

Analyst Ratings Changes

Several equities research analysts recently commented on MRSH shares. Wells Fargo & Company boosted their price objective on shares of Marsh & McLennan Companies from $186.00 to $188.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Monday, July 13th. UBS Group upped their price objective on Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Weiss Ratings raised Marsh & McLennan Companies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Finally, Cantor Fitzgerald upped their price target on Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $203.50.

Insider Activity

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total value of $2,693,441.76. Following the sale, the chief executive officer owned 116,811 shares in the company, valued at $18,889,506.81. This represents a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $189.99, for a total value of $1,348,929.00. Following the transaction, the insider owned 16,632 shares of the company's stock, valued at $3,159,913.68. This represents a 29.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,469 shares of company stock valued at $6,291,345 over the last quarter. 0.38% of the stock is currently owned by company insiders.

About Marsh & McLennan Companies

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.

Want to see what other hedge funds are holding MRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source