California Public Employees Retirement System Cuts Holdings in Marsh & McLennan Companies, Inc. $MRSH

California Public Employees Retirement System lowered its holdings in Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 12.6% during the 1st quarter, Holdings Channel reports. The firm owned 1,105,853 shares of the financial services provider’s stock after selling 158,819 shares during the period. California Public Employees Retirement System’s holdings in Marsh & McLennan Companies were worth $191,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in Marsh & McLennan Companies during the 2nd quarter valued at about $29,000. Solstein Capital LLC purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter worth about $25,000. SHP Wealth Management purchased a new stake in shares of Marsh & McLennan Companies in the 4th quarter valued at $26,000. KERR FINANCIAL PLANNING Corp bought a new position in Marsh & McLennan Companies during the 4th quarter worth approximately $27,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth about $27,000. Institutional investors own 87.99% of the company’s stock.

Marsh & McLennan Companies Trading Up 0.0%

Shares of NYSE MRSH opened at $182.20 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11. Marsh & McLennan Companies, Inc. has a 52 week low of $156.60 and a 52 week high of $213.80. The company has a market capitalization of $88.02 billion, a P/E ratio of 22.77, a PEG ratio of 2.74 and a beta of 0.61.

Marsh & McLennan Companies (NYSE:MRSH) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.21 by $0.08. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The company had revenue of $7.30 billion during the quarter. Marsh & McLennan Companies’s revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 10.36 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company 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 of this dividend is Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio is currently 45.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MRSH shares. Barclays lowered their target price on Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. JPMorgan Chase & Co. raised their price target on Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Citigroup upgraded Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Wednesday, May 6th. UBS Group raised their price target on Marsh & McLennan Companies from $203.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company dropped their price target on Marsh & McLennan Companies from $203.00 to $178.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $200.81.

Insider Activity

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the business’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 completion of the transaction, the chief executive officer owned 116,811 shares in the company, valued at $18,889,506.81. The trade was a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.38% of the company’s stock.

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.