Marsh & McLennan Institutional Holdings Expand as Analysts Maintain Hold Stance
Recent filings reveal major institutional portfolio shifts in Marsh & McLennan Companies, Inc. (MRSH), while Wall Street analysts maintain a consensus Hold rating on the stock.
Institutional investors have recently reshuffled their stakes in Marsh & McLennan Companies, Inc. (NYSE:MRSH). Regulatory disclosures show Vestor Capital LLC substantially boosted its position by 2,105.0% during the third quarter, adding 1,018,808 shares to reach 1,067,208 shares worth $182,204,000. Candriam S.C.A. expanded its stake by 34.3% to 72,745 shares valued at $12,465,000, while Kinsale Capital Group Inc. raised its holdings by 25.1% to 71,927 shares valued at $12,280,000. DMKC Advisory Services LLC initiated a new stake consisting of 22,564 shares worth approximately $3,852,000. Conversely, Pictet Asset Management Holding SA decreased its holdings by 15.9%, selling 81,645 shares to leave 433,223 shares valued at $73,964,000. Institutional investors and hedge funds control 87.99% of the equity.
Wall Street research firms hold mixed stances on the stock, resulting in a consensus Hold rating and an average price target of $205.84, according to MarketBeat. Overall, two analysts label the shares a Strong Buy, seven rate them a Buy, nine recommend a Hold, and two assign a Sell. On November 3rd, BMO Capital Markets lifted the shares to an outperform rating from market perform and raised its target price from $204.00 to $230.00. On November 4th, Weiss Ratings reiterated a hold (c) rating.
Earlier in October, brokerage assessments diverged. JPMorgan Chase & Co. raised its target price from $215.00 to $218.00 with an overweight rating on October 20th, while Mizuho increased its target to $200.00 from $190.00 with a neutral rating on October 19th. Citigroup bumped its target from $200.00 to $203.00 with a neutral rating on October 16th. In contrast, Morgan Stanley trimmed its price objective on October 6th from $200.00 to $180.00 with an equal weight rating, and Evercore lowered its target from $234.00 to $224.00 on October 8th.
These revisions followed third-quarter financial figures released on October 15th. Marsh & McLennan posted earnings per share of $2.03, surpassing the consensus forecast of $1.96 by $0.07. Revenue advanced 8.1% compared to the prior-year period to $6.86 billion. The business achieved a return on equity of 33.32% and a net margin of 14.20%, with analysts projecting full-year earnings per share of 10.49. In addition, the board declared a $0.99 quarterly dividend payable on November 13th to shareholders of record as of October 1st, reflecting a 1.9% yield and an annualized payout of $3.96.
Recent trading activity also included insider sales on October 23rd executed under pre-arranged Rule 10b5-1 trading plans. Chief Executive Officer Dean Klisura disposed of 4,194 shares at an average price of $200.00 for $838,800.00, retaining 20,935 shares. Vice President Stacy Mills sold 1,215 shares at the same price for $243,000.00 to satisfy tax withholding requirements connected to vesting equity awards, retaining 2,705 shares. Company insiders retain a 0.38% stake.