Aware Super Pty Ltd as trustee of Aware Super purchased a new stake 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 & Exchange Commission. The firm purchased 94,028 shares of the financial services provider's stock, valued at approximately $16,309,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Solstein Capital LLC bought a new stake in Marsh & McLennan Companies during the 4th quarter valued at $25,000. SHP Wealth Management acquired a new position in shares of Marsh & McLennan Companies during the fourth quarter valued at $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Marsh & McLennan Companies in the fourth quarter worth about $27,000. Golden State Wealth Management LLC bought a new position in Marsh & McLennan Companies in the 4th quarter valued at about $27,000. Finally, Pinnacle Bancorp Inc. acquired a new position in Marsh & McLennan Companies during the 1st quarter valued at about $28,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on MRSH. Barclays reduced their price target on shares of Marsh & McLennan Companies from $209.00 to $206.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. UBS Group boosted their target price on Marsh & McLennan Companies from $203.00 to $212.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. 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 note on Monday. Mizuho raised their target price on Marsh & McLennan Companies from $194.00 to $197.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company dropped their price target on shares of Marsh & McLennan Companies from $203.00 to $178.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $200.81.
View Our Latest Stock Analysis on MRSH
Marsh & McLennan Companies Stock Up 3.4%
Shares of NYSE MRSH opened at $182.22 on Friday. 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, Inc. has a 12 month low of $156.60 and a 12 month high of $216.32. The firm has a market cap of $88.03 billion, a PE ratio of 22.78, a P/E/G ratio of 2.57 and a beta of 0.61.
Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share for the quarter, topping analysts' consensus estimates of $3.21 by $0.08. Marsh & McLennan Companies had a return on equity of 31.87% and a net margin of 14.26%.The firm had revenue of $7.30 billion for the quarter. Marsh & McLennan Companies's quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 10.36 EPS for the current year.
Marsh & McLennan Companies Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 2.2%. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, July 23rd. Marsh & McLennan Companies's payout ratio is 45.00%.
Insider Buying and Selling
In related news, CEO John Q. Doyle sold 16,656 shares of the firm's 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 transaction, the chief executive officer owned 116,811 shares of the company's stock, valued at approximately $18,889,506.81. This trade represents a 12.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.38% of the company's stock.
Marsh & McLennan Companies Company Profile
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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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