Marsh & McLennan Companies, Inc. $MRSH Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,405,611 shares of the financial services provider’s stock after selling 173,024 shares during the quarter. Bank of America Corp DE owned 1.31% of Marsh & McLennan Companies worth $1,290,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRSH. Bank of Nova Scotia raised its holdings in Marsh & McLennan Companies by 188.5% in the third quarter. Bank of Nova Scotia now owns 486,511 shares of the financial services provider’s stock valued at $98,047,000 after acquiring an additional 317,877 shares in the last quarter. Aquatic Capital Management LLC grew its holdings in Marsh & McLennan Companies by 506.2% during the 3rd quarter. Aquatic Capital Management LLC now owns 162,725 shares of the financial services provider’s stock worth $32,794,000 after acquiring an additional 135,882 shares in the last quarter. 44 Wealth Management LLC increased its position in shares of Marsh & McLennan Companies by 12.1% in the 3rd quarter. 44 Wealth Management LLC now owns 3,082 shares of the financial services provider’s stock worth $621,000 after purchasing an additional 333 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Marsh & McLennan Companies by 14.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 54,443 shares of the financial services provider’s stock valued at $10,972,000 after purchasing an additional 6,922 shares in the last quarter. Finally, L1 Capital International Pty Ltd lifted its position in shares of Marsh & McLennan Companies by 1.9% during the third quarter. L1 Capital International Pty Ltd now owns 78,829 shares of the financial services provider’s stock worth $15,886,000 after purchasing an additional 1,482 shares during the last quarter. Institutional investors own 87.99% of the company’s stock.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,655 shares of the 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 directly owned 116,811 shares of the company’s stock, valued at approximately $21,411,456.30. This trade represents a 12.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

MRSH has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Evercore decreased 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. Mizuho reiterated a “neutral” rating and issued a $199.00 price target (down from $213.00) on shares of Marsh & McLennan Companies in a report on Friday, February 27th. 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. Finally, Barclays decreased their price objective on shares of Marsh & McLennan Companies from $210.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Marsh & McLennan Companies currently has a consensus rating of “Hold” and a consensus target price of $216.12.

Marsh & McLennan Companies Trading Up 0.8%

Shares of MRSH opened at $172.18 on Monday. The stock has a market capitalization of $83.36 billion, a P/E ratio of 20.42, a P/E/G ratio of 2.34 and a beta of 0.74. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.10 and a quick ratio of 1.10. Marsh & McLennan Companies, Inc. has a 52-week low of $170.37 and a 52-week high of $248.00.

Marsh & McLennan Companies (NYSE:MRSH) last released 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 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%. Marsh & McLennan Companies’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.87 EPS. As a group, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current year.

Marsh & McLennan Companies Announces Dividend

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

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.