610,447 Shares in Marsh & McLennan Companies, Inc. $MRSH Bought by Principal Financial Group Inc.

Key Points

• Principal Financial Group bought a new stake in Marsh & McLennan, purchasing 610,447 shares valued at about $105.9 million in the first quarter.
• Marsh & McLennan reported better-than-expected Q1 earnings of $3.29 per share, with revenue of $7.30 billion rising 7.6% year over year.
• The company raised its quarterly dividend to $0.99 per share from $0.90, and several analysts remain mixed on the stock with an overall Hold rating and average price target of $200.81.

Principal Financial Group Inc. purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 610,447 shares of the financial services provider's stock, valued at approximately $105,882,000. Principal Financial Group Inc. owned about 0.13% of Marsh & McLennan Companies at the end of the most recent reporting period.

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

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 stock was 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 of the company's stock, valued at approximately $18,889,506.81. This trade represents a 12.48% decrease in their position. 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. 0.38% of the stock is owned by insiders.

Marsh & McLennan Companies Stock Down 1.0%

MRSH stock opened at $176.29 on Thursday. Marsh & McLennan Companies, Inc. has a 52 week low of $156.60 and a 52 week high of $216.32. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $85.17 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.59 and a beta of 0.61.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last released its earnings results on Thursday, April 16th. The financial services provider reported $3.29 EPS for the quarter, beating 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 firm had revenue of $7.30 billion for the quarter. Marsh & McLennan Companies's quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts forecast that Marsh & McLennan Companies, Inc. will post 10.37 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd will be given a dividend of $0.99 per share. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.90. This represents a $3.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, July 23rd. Marsh & McLennan Companies's dividend payout ratio (DPR) is presently 45.00%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Morgan Stanley cut their price target on Marsh & McLennan Companies from $180.00 to $175.00 and set an "equal weight" rating for the company in a report on Monday, July 6th. Bank of America decreased their price target on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 14th. UBS Group lifted their price objective 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. Mizuho raised their target price on shares of Marsh & McLennan Companies from $194.00 to $197.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, Piper Sandler cut their price target on Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating for the company in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $200.81.

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.

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