Bank of America Corp DE Sells 173,024 Shares of Marsh & McLennan Companies, Inc. $MRSH

Bank of America Corp DE cut its holdings in Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,405,611 shares of the financial services provider’s stock after selling 173,024 shares during the period. Bank of America Corp DE owned 1.31% of Marsh & McLennan Companies worth $1,290,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Marsh & McLennan Companies by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock valued at $10,092,108,000 after buying an additional 837,117 shares in the last quarter. Capital International Investors boosted its position in shares of Marsh & McLennan Companies by 1.2% during the third quarter. Capital International Investors now owns 18,590,697 shares of the financial services provider’s stock worth $3,745,889,000 after acquiring an additional 221,033 shares during the last quarter. Capital World Investors grew its stake in Marsh & McLennan Companies by 0.5% during the third quarter. Capital World Investors now owns 17,702,898 shares of the financial services provider’s stock valued at $3,567,410,000 after acquiring an additional 92,767 shares in the last quarter. Wellington Management Group LLP increased its holdings in Marsh & McLennan Companies by 9.1% in 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 last quarter. Finally, Capital Research Global Investors lifted its stake in Marsh & McLennan Companies by 0.7% in the 3rd quarter. Capital Research Global Investors now owns 9,861,067 shares of the financial services provider’s stock worth $1,987,301,000 after purchasing an additional 68,826 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MRSH has been the topic of several research reports. Cantor Fitzgerald lifted their target price on Marsh & McLennan Companies from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods raised their price target on Marsh & McLennan Companies from $205.00 to $206.00 and gave the company a “market perform” rating in a report on Monday, February 2nd. Weiss Ratings started coverage on Marsh & McLennan Companies in a research note on Thursday, January 29th. They issued a “hold (c)” rating on the stock. Evercore lowered their target price on Marsh & McLennan Companies from $237.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, January 7th. Finally, Mizuho reissued a “neutral” rating and issued a $199.00 target price (down from $213.00) on shares of Marsh & McLennan Companies in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $216.12.

Insider Activity

In related news, CEO John Q. Doyle sold 16,655 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 116,811 shares in the company, valued at $21,411,456.30. The trade was a 12.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Marsh & McLennan Companies stock opened at $172.18 on Monday. Marsh & McLennan Companies, Inc. has a 12-month low of $170.37 and a 12-month high of $248.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $83.36 billion, a PE ratio of 20.42, a PEG ratio of 2.34 and a beta of 0.74.

Marsh & McLennan Companies (NYSE:MRSH) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.97 by $0.15. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.52 billion. Marsh & McLennan Companies had a net margin of 15.42% and a return on equity of 31.60%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.87 EPS. As a group, analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 earnings per share for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, April 9th. Marsh & McLennan Companies’s dividend payout ratio is presently 42.70%.

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.