Bank of Nova Scotia Purchases 110,231 Shares of Marsh & McLennan Companies, Inc. $MRSH

Bank of Nova Scotia lifted its stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 39.0% in the first quarter, Holdings Channel.com reports. The fund owned 392,851 shares of the financial services provider’s stock after purchasing an additional 110,231 shares during the period. Bank of Nova Scotia’s holdings in Marsh & McLennan Companies were worth $68,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MRSH. Solstein Capital LLC bought a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at about $25,000. SHP Wealth Management purchased a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Marsh & McLennan Companies during the 4th quarter worth $27,000. Golden State Wealth Management LLC purchased a new position in Marsh & McLennan Companies in the fourth quarter worth $27,000. Finally, Pinnacle Bancorp Inc. bought a new position in Marsh & McLennan Companies in the first quarter valued at $28,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Stock Performance

Shares of NYSE:MRSH opened at $180.66 on Friday. The firm has a market cap of $86.21 billion, a PE ratio of 22.09, a P/E/G ratio of 2.54 and a beta of 0.61. Marsh & McLennan Companies, Inc. has a 1-year low of $156.60 and a 1-year high of $213.80. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 1.22.

Marsh & McLennan Companies (NYSE:MRSH) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.07. The company had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.41 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 23rd will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 2.2%. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, July 23rd. Marsh & McLennan Companies’s payout ratio is 48.41%.

Insiders Place Their Bets

In related news, CEO John Q. Doyle sold 16,656 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total value of $2,693,441.76. Following the sale, the chief executive officer owned 116,811 shares in the company, valued at approximately $18,889,506.81. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MRSH shares. Bank of America cut their price objective on Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Barclays dropped their target price on Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Citigroup lowered Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 target price for the company. in a research note on Wednesday. UBS Group lifted their price target on shares of Marsh & McLennan Companies from $203.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company upped their price objective on shares of Marsh & McLennan Companies from $186.00 to $188.00 and gave the company an “equal weight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Marsh & McLennan Companies presently has a consensus rating of “Hold” and a consensus target price of $201.69.

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.