Allworth Financial LP purchased a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,314 shares of the financial services provider's stock, valued at approximately $1,219,000.
A number of other hedge funds have also modified their holdings of MRSH. Solstein Capital LLC acquired a new stake in Marsh & McLennan Companies during the 4th quarter worth $25,000. Asset Dedication LLC acquired a new stake in shares of Marsh & McLennan Companies during the first quarter worth about $25,000. SHP Wealth Management purchased a new position in shares of Marsh & McLennan Companies during the fourth quarter worth about $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Marsh & McLennan Companies in the 4th quarter valued at about $27,000. Finally, Golden State Wealth Management LLC acquired a new position in Marsh & McLennan Companies in the 4th quarter valued at about $27,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Marsh & McLennan Companies
In other news, SVP Paul Beswick sold 713 shares of the firm's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total value of $141,174.00. Following the completion of the transaction, the senior vice president owned 16,376 shares in the company, valued at $3,242,448. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Q. Doyle sold 16,656 shares of Marsh & McLennan Companies 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 transaction, the chief executive officer directly owned 116,811 shares of the company's stock, valued at $18,889,506.81. This trade represents a 12.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 36,469 shares of company stock valued at $6,291,345. Company insiders own 0.38% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Citigroup cut Marsh & McLennan Companies from a "buy" rating to a "neutral" rating and set a $200.00 price target for the company. in a research note on Wednesday, July 22nd. Piper Sandler lowered their price objective on shares of 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. Weiss Ratings upgraded shares of Marsh & McLennan Companies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Mizuho raised their target price on shares of Marsh & McLennan Companies from $197.00 to $201.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. One equities 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 given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $203.50.
Check Out Our Latest Report on MRSH
Marsh & McLennan Companies Stock Up 1.0%
NYSE:MRSH opened at $192.17 on Friday. The stock's fifty day moving average is $179.88. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $91.71 billion, a PE ratio of 23.49, a PEG ratio of 2.75 and a beta of 0.59. Marsh & McLennan Companies, Inc. has a fifty-two week low of $156.60 and a fifty-two week high of $212.65.
Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last issued 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 company had revenue of $7.28 billion for the quarter. The business's quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.43 earnings per share for the current year.
Marsh & McLennan Companies Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, July 23rd were issued a $0.99 dividend. The ex-dividend date was Thursday, July 23rd. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.90. Marsh & McLennan Companies's payout ratio is currently 48.41%.
About Marsh & McLennan Companies
(
Free Report)
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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