78,803 Shares in Marsh & McLennan Companies, Inc. $MRSH Acquired by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management acquired 78,803 shares of Marsh & McLennan Companies worth approximately $13.1 million, while institutional investors collectively own 87.99% of the stock.
• Marsh & McLennan exceeded quarterly earnings expectations, reporting $2.96 in EPS versus the $2.89 consensus, with revenue rising 6.2% year over year to $7.28 billion.
• The company increased its quarterly dividend to $0.99 per share, representing a $3.96 annualized payout and a 2.1% yield; analysts maintain a consensus “Hold” rating with a $203.50 price target.

Rakuten Investment Management Inc. acquired a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 78,803 shares of the financial services provider's stock, valued at approximately $13,137,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Marsh & McLennan Companies in the second quarter valued at $6,583,806,000. State Street Corp acquired a new position in shares of Marsh & McLennan Companies during the 4th quarter worth about $4,057,682,000. Capital International Investors purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter valued at about $3,482,557,000. Capital World Investors acquired a new stake in shares of Marsh & McLennan Companies during the 4th quarter worth about $3,140,284,000. Finally, Wellington Management Group LLP purchased a new stake in Marsh & McLennan Companies during the fourth quarter worth approximately $2,967,927,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Stock Up 1.5%

MRSH opened at $192.90 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a 52 week low of $156.60 and a 52 week high of $207.82. The stock's 50 day moving average price is $182.75. The firm has a market capitalization of $92.05 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 2.64 and a beta of 0.59.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $0.07. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The business had revenue of $7.28 billion for the quarter. The business's revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that Marsh & McLennan Companies, Inc. will post 10.44 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 2.1%. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, July 23rd. Marsh & McLennan Companies's payout ratio is currently 48.41%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MRSH. Cantor Fitzgerald upped their price target on Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Piper Sandler reduced their price objective on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating for the company in a research report on Tuesday, May 26th. Morgan Stanley upped their target price on shares of Marsh & McLennan Companies from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Wednesday, August 19th. Wells Fargo & Company increased their target price on shares of Marsh & McLennan Companies from $186.00 to $188.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. Finally, UBS Group boosted their price target on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the company a "buy" rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $203.50.

Insider Buying and Selling

In related news, SVP Paul Beswick sold 713 shares of the firm's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total transaction of $141,174.00. Following the transaction, the senior vice president owned 16,376 shares of the company's stock, valued at $3,242,448. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd M. Yates sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $175.65, for a total value of $2,107,800.00. Following the sale, the director directly owned 12,001 shares of the company's stock, valued at approximately $2,107,975.65. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 36,469 shares of company stock worth $6,291,345. Corporate insiders own 0.38% of the company's stock.

Marsh & McLennan Companies Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source