Ashton Thomas Securities LLC Purchases New Position in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Ashton Thomas Securities acquired 13,429 shares of Marsh & McLennan Companies worth approximately $2.33 million, while institutional investors collectively own 87.99% of the stock.
• Marsh & McLennan beat 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, or $3.96 annually, implying a 2.0% yield; analysts maintain a consensus “Hold” rating with an average price target of $201.94.

Ashton Thomas Securities LLC acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,429 shares of the financial services provider's stock, valued at approximately $2,330,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp purchased a new stake in Marsh & McLennan Companies during the fourth quarter worth $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 position in Marsh & McLennan Companies in the 4th quarter worth about $3,140,284,000. Wellington Management Group LLP purchased a new position in Marsh & McLennan Companies during the fourth quarter worth approximately $2,967,927,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Marsh & McLennan Companies in the fourth quarter valued at approximately $1,710,101,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Stock Performance

Shares of MRSH stock opened at $197.56 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 stock has a market cap of $94.28 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.76 and a beta of 0.61. The company has a fifty day moving average price of $172.40. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.22.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $0.07. The business had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that Marsh & McLennan Companies, Inc. will post 10.43 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd will be paid a $0.99 dividend. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a $3.96 dividend on an annualized basis and a yield of 2.0%. Marsh & McLennan Companies's dividend payout ratio is 48.41%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MRSH. Piper Sandler reduced their target price 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. Weiss Ratings cut shares of Marsh & McLennan Companies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Cantor Fitzgerald upped their price objective on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods increased their price objective on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the company a "market perform" rating in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. boosted their target price 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 research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $201.94.

Insider Transactions at Marsh & McLennan Companies

In other news, insider Martin South sold 7,100 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $189.99, for a total transaction of $1,348,929.00. Following the transaction, the insider directly owned 16,632 shares in the company, valued at $3,159,913.68. The trade was a 29.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total value of $2,693,441.76. Following the completion of the sale, the chief executive officer directly owned 116,811 shares of the company's stock, valued at approximately $18,889,506.81. This represents a 12.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 35,756 shares of company stock worth $6,150,171 in the last ninety days. Insiders own 0.38% of the company's stock.

Marsh & McLennan Companies 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.

Want to see what other hedge funds are holding MRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report).

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.