Washington Trust Bank Lowers Position in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Washington Trust Bank reduced its Marsh & McLennan position by 21.7% in the second quarter, selling 12,580 shares and retaining 45,280 shares worth approximately $7.55 million. Institutional investors and hedge funds collectively own 87.99% of the stock.
• Marsh & McLennan exceeded quarterly earnings expectations, reporting $2.96 EPS versus the $2.89 consensus and $7.28 billion in revenue, up 6.2% year over year. The company also raised its quarterly dividend to $0.99 per share, or a 2.1% annualized yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $203.50. MRSH recently opened at $192.90, while company insiders sold 36,469 shares worth about $6.29 million over the past three months.

Washington Trust Bank trimmed its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 21.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,280 shares of the financial services provider's stock after selling 12,580 shares during the quarter. Washington Trust Bank's holdings in Marsh & McLennan Companies were worth $7,547,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Mufg Securities Americas Inc. lifted its holdings in shares of Marsh & McLennan Companies by 8.3% in the 2nd quarter. Mufg Securities Americas Inc. now owns 14,512 shares of the financial services provider's stock worth $2,419,000 after acquiring an additional 1,116 shares during the last quarter. Nissay Asset Management Corp Japan grew its stake in shares of Marsh & McLennan Companies by 2.4% in the second quarter. Nissay Asset Management Corp Japan now owns 64,414 shares of the financial services provider's stock valued at $10,736,000 after buying an additional 1,536 shares in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Marsh & McLennan Companies in the 2nd quarter valued at $14,204,000. Kingsview Wealth Management LLC purchased a new position in Marsh & McLennan Companies during the 2nd quarter valued at about $6,919,000. Finally, Beacon Pointe Advisors LLC acquired a new position in Marsh & McLennan Companies in the 2nd quarter valued at about $3,141,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Marsh & McLennan Companies Stock Performance

MRSH stock opened at $192.90 on Friday. The stock's 50 day moving average price is $182.75. The stock has a market capitalization of $92.05 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 2.67 and a beta of 0.59. Marsh & McLennan Companies, Inc. has a fifty-two week low of $156.60 and a fifty-two week high of $207.82. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.14 and a quick ratio of 1.14.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $0.07. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The company had revenue of $7.28 billion during the quarter. The company's quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts forecast that Marsh & McLennan Companies, Inc. will post 10.44 EPS for the current fiscal 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 dividend of $0.99 per share. This is an increase 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 annualized dividend and a dividend yield of 2.1%. Marsh & McLennan Companies's dividend payout ratio is presently 48.41%.

Insider Activity

In other news, SVP Paul Beswick sold 713 shares of the company's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total transaction of $141,174.00. Following the completion of the transaction, the senior vice president directly owned 16,376 shares of the company's stock, valued at approximately $3,242,448. This represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd M. Yates sold 12,000 shares of the stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $175.65, for a total value of $2,107,800.00. Following the completion of the transaction, the director owned 12,001 shares in the company, valued at approximately $2,107,975.65. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 36,469 shares of company stock worth $6,291,345. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on MRSH. Wells Fargo & Company raised 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 note on Wednesday, July 22nd. UBS Group upped their target price on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Morgan Stanley raised their price target on shares of Marsh & McLennan Companies from $180.00 to $200.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 19th. Piper Sandler cut their price objective on Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 26th. Finally, Mizuho increased their price objective on Marsh & McLennan Companies from $197.00 to $201.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $203.50.

Marsh & McLennan Companies 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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