Allspring Global Investments Holdings LLC Acquires Shares of 247,577 Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Allspring Global Investments bought a new stake in Marsh & McLennan during the first quarter, acquiring 247,577 shares valued at about $42.6 million.
• Institutional ownership remains very high, with 87.99% of the stock held by institutions and hedge funds, while CEO John Q. Doyle recently sold 16,656 shares in a pre-arranged trading plan.
• Marsh & McLennan reported better-than-expected quarterly earnings of $3.29 per share and raised its quarterly dividend to $0.99 per share, but Wall Street overall still rates the stock a Hold despite some recent bullish upgrades.

Allspring Global Investments Holdings LLC bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 247,577 shares of the financial services provider's stock, valued at approximately $42,551,000. Allspring Global Investments Holdings LLC owned 0.05% of Marsh & McLennan Companies as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Solstein Capital LLC purchased a new stake in Marsh & McLennan Companies during the fourth quarter worth about $25,000. SHP Wealth Management purchased a new stake in shares of Marsh & McLennan Companies during the 4th quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Marsh & McLennan Companies in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC purchased a new position in Marsh & McLennan Companies in the 4th quarter valued at approximately $27,000. Finally, Pinnacle Bancorp Inc. acquired a new position in Marsh & McLennan Companies during the first quarter worth $28,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup upgraded shares of Marsh & McLennan Companies from a "neutral" rating to a "buy" rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 6th. Piper Sandler reduced their price target on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating on the stock in a report on Tuesday, May 26th. UBS Group increased their price target on shares of Marsh & McLennan Companies from $203.00 to $212.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Morgan Stanley cut their price objective on Marsh & McLennan Companies from $180.00 to $175.00 and set an "equal weight" rating for the company in a research report on Monday, July 6th. Finally, Bank of America lowered their target price on Marsh & McLennan Companies from $181.00 to $174.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $200.81.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the transaction, the chief executive officer directly owned 116,811 shares in the company, valued at $18,889,506.81. This represents a 12.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is owned by corporate insiders.

Marsh & McLennan Companies Trading Up 0.0%

Shares of NYSE:MRSH opened at $182.20 on Friday. The stock has a market cap of $88.02 billion, a PE ratio of 22.77, a PEG ratio of 2.74 and a beta of 0.61. Marsh & McLennan Companies, Inc. has a 1 year low of $156.60 and a 1 year high of $213.80. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11.

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

Marsh & McLennan Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 23rd will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.90. The ex-dividend date is Thursday, July 23rd. Marsh & McLennan Companies's payout ratio is presently 45.00%.

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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