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

DAVENPORT & Co LLC boosted its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 419.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 512,998 shares of the financial services provider’s stock after buying an additional 414,161 shares during the quarter. DAVENPORT & Co LLC’s holdings in Marsh & McLennan Companies were worth $95,392,000 at the end of the most recent quarter.

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

Marsh & McLennan Companies Stock Down 0.1%

Shares of MRSH stock opened at $173.01 on Wednesday. Marsh & McLennan Companies, Inc. has a 12-month low of $164.89 and a 12-month high of $248.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s fifty day moving average is $177.30. The company has a market capitalization of $83.76 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74.

Marsh & McLennan Companies (NYSE:MRSH) last announced its earnings results on Thursday, January 29th. The financial services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.15. The firm had revenue of $6.60 billion during 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%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.87 EPS. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 9th. Marsh & McLennan Companies’s dividend payout ratio is currently 42.70%.

Insider Activity

In related news, CEO John Q. Doyle sold 16,655 shares of Marsh & McLennan Companies 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 sale, the chief executive officer 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MRSH. Morgan Stanley lifted their price objective on Marsh & McLennan Companies from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Citigroup increased their target price on Marsh & McLennan Companies from $201.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. 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. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $200.00 price target on shares of Marsh & McLennan Companies in a research note on Friday, January 30th. Finally, Cantor Fitzgerald lifted their price objective on shares of Marsh & McLennan Companies from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. One equities research 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 given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $212.06.

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.