PNC Financial Services Group Inc. Invests $111.59 Million in Marsh & McLennan Companies, Inc. $MRSH

PNC Financial Services Group Inc. bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the first quarter, Holdings Channel reports. The fund bought 643,360 shares of the financial services provider’s stock, valued at approximately $111,591,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MRSH. Vanguard Group Inc. boosted its position in shares of Marsh & McLennan Companies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 46,589,633 shares of the financial services provider’s stock worth $8,643,309,000 after buying an additional 387,100 shares during the period. State Street Corp acquired a new position in Marsh & McLennan Companies in the fourth quarter worth approximately $4,057,682,000. Capital International Investors bought a new position in Marsh & McLennan Companies during the fourth quarter valued at approximately $3,482,557,000. Capital World Investors acquired a new position in shares of Marsh & McLennan Companies during the 4th quarter worth $3,140,284,000. Finally, Wellington Management Group LLP bought a new position in shares of Marsh & McLennan Companies during the 4th quarter valued at $2,967,927,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the firm’s stock in a transaction 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 directly owned 116,811 shares in the company, valued at $18,889,506.81. This trade represents 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MRSH has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings lowered Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Cantor Fitzgerald raised their price objective on Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Bank of America decreased their target price on Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Finally, Barclays lowered their price target on Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. 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 given a Sell rating to the company’s stock. According to MarketBeat, Marsh & McLennan Companies has an average rating of “Hold” and a consensus price target of $201.69.

Key Stories Impacting Marsh & McLennan Companies

Here are the key news stories impacting Marsh & McLennan Companies this week:

• Positive Sentiment: Marsh & McLennan beat second-quarter earnings expectations, reporting $2.96 EPS versus consensus around $2.89, with revenue of $7.28 billion. The beat was driven by strength in Consulting and Risk & Insurance Services, which supports the view that core demand remains healthy. Article Title
• Positive Sentiment: Wells Fargo raised its price target on MRSH from $186 to $188, and Mizuho increased its target from $197 to $201. Those higher targets suggest analysts still see upside from current levels, even though both firms kept relatively cautious ratings. Article Title Article Title
• Neutral Sentiment: Several analysts remained cautious despite the earnings beat: Citigroup downgraded the stock from buy to neutral, and William Blair maintained a Hold view. That signals the results were solid, but not enough to fully reset valuation concerns. Article Title Article Title
• Neutral Sentiment: Management’s earnings call highlighted both growth and challenges, implying that while operating trends are improving, investors are still weighing execution and margin outlook. Article Title

Marsh & McLennan Companies Stock Down 2.9%

MRSH opened at $176.27 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $85.16 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 2.73 and a beta of 0.61. Marsh & McLennan Companies, Inc. has a 12-month low of $156.60 and a 12-month high of $213.80.

Marsh & McLennan Companies (NYSE:MRSH) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.96 EPS 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 return on equity of 32.67% and a net margin of 14.24%.The company’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.36 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 23rd will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, July 23rd. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio is currently 44.01%.

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.