Bank of Nova Scotia Buys 317,877 Shares of Marsh & McLennan Companies, Inc. $MRSH

Bank of Nova Scotia raised its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 188.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 486,511 shares of the financial services provider’s stock after purchasing an additional 317,877 shares during the period. Bank of Nova Scotia owned about 0.10% of Marsh & McLennan Companies worth $98,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRSH. Pinnacle Bancorp Inc. bought a new position in Marsh & McLennan Companies during the 3rd quarter worth about $25,000. Headlands Technologies LLC purchased a new stake in shares of Marsh & McLennan Companies in the 2nd quarter worth approximately $29,000. Delos Wealth Advisors LLC bought a new position in shares of Marsh & McLennan Companies during the second quarter valued at approximately $32,000. Financial Life Planners bought a new position in Marsh & McLennan Companies in the third quarter worth approximately $32,000. Finally, TruNorth Capital Management LLC purchased a new stake in Marsh & McLennan Companies during the third quarter worth $32,000. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Performance

Shares of MRSH stock opened at $172.18 on Friday. Marsh & McLennan Companies, Inc. has a 1-year low of $170.37 and a 1-year high of $248.00. The firm has a market cap of $83.36 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 2.34 and a beta of 0.74. 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 released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15. Marsh & McLennan Companies had a return on equity of 31.60% and a net margin of 15.42%.The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same period last year, the business posted $1.87 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. Sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 9.61 EPS for the current fiscal year.

Marsh & McLennan Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors 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 dividend on an annualized basis and a yield of 2.1%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 42.70%.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,655 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $183.30, for a total transaction of $3,052,861.50. Following the transaction, the chief executive officer owned 116,811 shares in the company, valued at approximately $21,411,456.30. This represents a 12.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

MRSH has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Mizuho reaffirmed a “neutral” rating and set a $199.00 price objective (down from $213.00) on shares of Marsh & McLennan Companies in a research report on Friday, February 27th. Wells Fargo & Company lifted their target price on Marsh & McLennan Companies from $199.00 to $203.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Morgan Stanley increased their price target on shares of 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. Finally, Barclays cut their price objective on shares of Marsh & McLennan Companies from $210.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Marsh & McLennan Companies presently has an average rating of “Hold” and an average target price of $216.12.

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.