Algebris UK Ltd. Invests $7.97 Million in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Algebris UK Ltd. acquired 47,996 shares of Marsh & McLennan Companies during the second quarter, valued at approximately $7.97 million. Institutional investors collectively own 87.99% of the company.
• Marsh & McLennan exceeded quarterly earnings expectations, reporting $2.96 in EPS and $7.28 billion in revenue, up 6.2% year over year. The company also raised its quarterly dividend to $0.99 per share, yielding about 2.1% annually.
• Insiders sold 36,469 shares worth roughly $6.29 million over the past 90 days, while analysts maintain a consensus “Hold” rating with an average price target of $203.50.

Algebris UK Ltd. bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 47,996 shares of the financial services provider's stock, valued at approximately $7,974,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MRSH. EP Wealth Advisors LLC raised its position in Marsh & McLennan Companies by 0.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 8,337 shares of the financial services provider's stock valued at $1,823,000 after buying an additional 69 shares during the last quarter. MMA Asset Management LLC grew its position in Marsh & McLennan Companies by 1.7% in the 4th quarter. MMA Asset Management LLC now owns 4,083 shares of the financial services provider's stock worth $757,000 after purchasing an additional 70 shares in the last quarter. Continuum Advisory LLC increased its stake in Marsh & McLennan Companies by 5.3% in the 1st quarter. Continuum Advisory LLC now owns 1,452 shares of the financial services provider's stock valued at $252,000 after buying an additional 73 shares during the last quarter. Clearstead Trust LLC lifted its position in shares of Marsh & McLennan Companies by 12.6% during the 1st quarter. Clearstead Trust LLC now owns 668 shares of the financial services provider's stock worth $116,000 after buying an additional 75 shares in the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC lifted its position in shares of Marsh & McLennan Companies by 0.9% during the 4th quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 8,883 shares of the financial services provider's stock worth $1,648,000 after buying an additional 79 shares in the last quarter. Institutional investors own 87.99% of the company's stock.

Insider Buying and Selling

In related news, CEO John Q. Doyle sold 16,656 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the sale, the chief executive officer directly owned 116,811 shares in the company, valued at approximately $18,889,506.81. The trade was a 12.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd M. Yates sold 12,000 shares of the stock in a transaction dated Thursday, July 23rd. The stock was 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 in the company, valued at $2,107,975.65. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 36,469 shares of company stock valued at $6,291,345 in the last ninety days. 0.38% of the stock is owned by company insiders.

Marsh & McLennan Companies Stock Performance

Shares of MRSH opened at $189.55 on Thursday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $156.60 and a fifty-two week high of $213.80. The business has a 50-day moving average price of $178.97. The stock has a market cap of $90.45 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 2.67 and a beta of 0.59. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.22.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $7.28 billion during the quarter. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, research analysts predict that Marsh & McLennan Companies, Inc. will post 10.43 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd were 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 dividend yield of 2.1%. The ex-dividend date was Thursday, July 23rd. Marsh & McLennan Companies's dividend payout ratio (DPR) is currently 48.41%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Piper Sandler cut their price objective on Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 26th. Citigroup downgraded Marsh & McLennan Companies from a "buy" rating to a "neutral" rating and set a $200.00 price objective for the company. in a research note on Wednesday, July 22nd. Cantor Fitzgerald lifted their target price on Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Finally, UBS Group boosted their price target on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 27th. One research 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $203.50.

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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