Ameriprise Financial Inc. Sells 1,074,347 Shares of Marsh & McLennan Companies, Inc. $MRSH

Ameriprise Financial Inc. lowered its holdings in Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 15.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,767,988 shares of the financial services provider’s stock after selling 1,074,347 shares during the period. Ameriprise Financial Inc. owned about 1.18% of Marsh & McLennan Companies worth $1,160,699,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Marsh & McLennan Companies in the 2nd quarter worth about $1,328,587,000. Soundwatch Capital LLC purchased a new stake in Marsh & McLennan Companies during the second quarter worth about $560,820,000. Mackenzie Financial Corp raised its position in Marsh & McLennan Companies by 212.6% in the second quarter. Mackenzie Financial Corp now owns 2,285,194 shares of the financial services provider’s stock worth $499,635,000 after acquiring an additional 1,554,114 shares during the period. Amundi boosted its stake in Marsh & McLennan Companies by 89.2% in the second quarter. Amundi now owns 2,892,576 shares of the financial services provider’s stock valued at $615,309,000 after acquiring an additional 1,363,706 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Marsh & McLennan Companies by 9.1% during the 3rd quarter. Wellington Management Group LLP now owns 15,091,478 shares of the financial services provider’s stock valued at $3,041,386,000 after acquiring an additional 1,260,434 shares during the period. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Price Performance

Shares of MRSH stock opened at $172.18 on Friday. The firm has a market cap of $83.36 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 2.34 and a beta of 0.74. Marsh & McLennan Companies, Inc. has a 1 year low of $170.37 and a 1 year high of $248.00. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.20.

Marsh & McLennan Companies (NYSE:MRSH) last posted its quarterly earnings results 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 firm had revenue of $6.60 billion during 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 business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.87 earnings per share. Research analysts anticipate that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 9th will be paid a $0.90 dividend. The ex-dividend date is Thursday, April 9th. This represents a $3.60 annualized dividend and a yield of 2.1%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 42.70%.

Analyst Upgrades and Downgrades

MRSH has been the topic of a number of research reports. Citigroup lifted 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. Wells Fargo & Company raised their target price on Marsh & McLennan Companies from $199.00 to $203.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Morgan Stanley upped their price target on Marsh & McLennan Companies from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Cantor Fitzgerald increased their price target on Marsh & McLennan Companies from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Raymond James Financial upgraded Marsh & McLennan Companies from an “outperform” rating to a “strong-buy” rating and set a $225.00 price objective on the stock in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Marsh & McLennan Companies has a consensus rating of “Hold” and a consensus price target of $216.12.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 16,655 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $183.30, for a total transaction of $3,052,861.50. Following the sale, the chief executive officer directly owned 116,811 shares in the company, valued at $21,411,456.30. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by corporate insiders.

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.