Pitcairn Co. Has $894,000 Stock Position in Marsh & McLennan Companies, Inc. $MRSH

Pitcairn Co. reduced its holdings in Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 56.7% in the third quarter, HoldingsChannel reports. The firm owned 4,435 shares of the financial services provider’s stock after selling 5,806 shares during the period. Pitcairn Co.’s holdings in Marsh & McLennan Companies were worth $894,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MRSH. Norges Bank bought a new stake in shares of Marsh & McLennan Companies in the 2nd quarter valued at $1,328,587,000. Soundwatch Capital LLC bought a new position in Marsh & McLennan Companies during the second quarter worth $560,820,000. Mackenzie Financial Corp boosted its stake in Marsh & McLennan Companies by 212.6% during 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 in the last quarter. Amundi grew its holdings 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 worth $615,309,000 after purchasing an additional 1,363,706 shares during the period. Finally, Vanguard Group Inc. increased its stake in Marsh & McLennan Companies by 1.8% in the second quarter. Vanguard Group Inc. now owns 46,158,562 shares of the financial services provider’s stock valued at $10,092,108,000 after purchasing an additional 837,117 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Marsh & McLennan Companies Price Performance

NYSE:MRSH opened at $183.43 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.20. Marsh & McLennan Companies, Inc. has a one year low of $170.37 and a one year high of $248.00. The stock has a market cap of $88.80 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74.

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

Marsh & McLennan Companies Dividend Announcement

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 dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 42.70%.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 16,655 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $183.30, for a total value of $3,052,861.50. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MRSH. Weiss Ratings assumed coverage on shares of Marsh & McLennan Companies in a research report on Thursday, January 29th. They set a “hold (c)” rating on the stock. Mizuho reaffirmed a “neutral” rating and set a $199.00 price target (down from $213.00) on shares of Marsh & McLennan Companies in a research note on Friday, February 27th. 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 report on Monday, February 2nd. Wells Fargo & Company boosted their price objective on Marsh & McLennan Companies from $199.00 to $203.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Finally, Raymond James Financial raised Marsh & McLennan Companies from an “outperform” rating to a “strong-buy” rating and set a $225.00 target price on the stock in a research report on Tuesday, February 17th. 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $216.18.

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.