DAVENPORT & Co LLC Has $95.39 Million Position in Marsh & McLennan Companies, Inc. $MRSH

DAVENPORT & Co LLC increased its holdings in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 419.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 512,998 shares of the financial services provider’s stock after acquiring an additional 414,161 shares during the period. DAVENPORT & Co LLC owned about 0.10% of Marsh & McLennan Companies worth $95,392,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Marsh & McLennan Companies by 0.4% in the 3rd quarter. State Street Corp now owns 21,538,014 shares of the financial services provider’s stock valued at $4,340,556,000 after purchasing an additional 96,436 shares during the period. Capital International Investors lifted its position in shares of Marsh & McLennan Companies by 1.2% during the 3rd quarter. Capital International Investors now owns 18,590,697 shares of the financial services provider’s stock worth $3,745,889,000 after buying an additional 221,033 shares during the period. Capital World Investors boosted its stake in Marsh & McLennan Companies by 0.5% in the 3rd quarter. Capital World Investors now owns 17,702,898 shares of the financial services provider’s stock valued at $3,567,410,000 after buying an additional 92,767 shares in the last quarter. Wellington Management Group LLP grew its position in Marsh & McLennan Companies by 9.1% in the third 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. Finally, Capital Research Global Investors raised its stake in Marsh & McLennan Companies by 0.7% during the third quarter. Capital Research Global Investors now owns 9,861,067 shares of the financial services provider’s stock worth $1,987,301,000 after acquiring an additional 68,826 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Stock Down 0.1%

Marsh & McLennan Companies stock opened at $173.01 on Wednesday. The firm has a 50-day simple moving average of $177.30. The company has a market capitalization of $83.76 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.37 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 12-month low of $164.89 and a 12-month high of $248.00.

Marsh & McLennan Companies (NYSE:MRSH) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $6.52 billion. Marsh & McLennan Companies had a net margin of 15.42% and a return on equity of 31.60%. During the same quarter in the prior year, the firm earned $1.87 EPS. The company’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 9th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.1%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is currently 42.70%.

Insiders Place Their Bets

In related news, CEO John Q. Doyle sold 16,655 shares of the business’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 value 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 document filed with the SEC, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on MRSH. JPMorgan Chase & Co. reduced their target price on shares of Marsh & McLennan Companies from $242.00 to $226.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Weiss Ratings initiated coverage on shares of Marsh & McLennan Companies in a research report on Thursday, January 29th. They set a “hold (c)” rating for the company. Barclays reduced their price target 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, March 11th. Mizuho reaffirmed a “neutral” rating and set a $199.00 price objective (down from $213.00) on shares of Marsh & McLennan Companies in a report on Friday, February 27th. Finally, Wells Fargo & Company lifted their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned 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 $212.06.

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.