Bartlett & CO. Wealth Management LLC Buys New Position in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Bartlett & Co. Wealth Management disclosed a new first-quarter position in Marsh & McLennan, buying 10,166 shares worth about $1.72 million. Several other institutional investors also added stakes, and institutional ownership now stands at 87.99%.
• CEO John Q. Doyle sold 16,656 shares on June 2 in a pre-arranged Rule 10b5-1 plan, reducing his holdings by 12.48%. After the sale, he still owned shares valued at about $18.9 million.
• Marsh & McLennan raised its quarterly dividend to $0.99 per share from $0.90, putting the annualized payout at $3.96 and yield at about 2.2%. The company also beat quarterly EPS estimates, reporting $3.29 versus the expected $3.21.

Bartlett & CO. Wealth Management LLC bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,166 shares of the financial services provider's stock, valued at approximately $1,716,000.

Several other institutional investors have also recently added to or reduced their stakes in MRSH. Kera Capital Partners Inc. acquired a new stake in Marsh & McLennan Companies in the first quarter worth $251,000. Cornerstone Planning Group LLC acquired a new position in shares of Marsh & McLennan Companies during the first quarter valued at about $62,000. Gryphon Financial Partners LLC bought a new position in shares of Marsh & McLennan Companies during the 1st quarter worth about $712,000. Modera Wealth Management LLC acquired a new stake in shares of Marsh & McLennan Companies in the 1st quarter valued at about $444,000. Finally, Advisortrust Partners LLC bought a new stake in Marsh & McLennan Companies in the 1st quarter valued at about $465,000. 87.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of Marsh & McLennan Companies 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 of the company's stock, valued at $18,889,506.81. The trade was a 12.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MRSH. Keefe, Bruyette & Woods increased their price target on Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a "market perform" rating in a report on Friday, April 17th. Citigroup upgraded Marsh & McLennan Companies from a "neutral" rating to a "buy" rating and set a $200.00 price objective for the company in a report on Wednesday, May 6th. Piper Sandler cut their target price on Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating on the stock in a report on Tuesday, May 26th. Mizuho lifted their price target on shares of Marsh & McLennan Companies from $194.00 to $197.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Finally, Cantor Fitzgerald boosted their price target on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $200.81.

Marsh & McLennan Companies Trading Up 0.0%

MRSH stock opened at $182.20 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. The stock has a market cap of $88.02 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 2.74 and a beta of 0.61. Marsh & McLennan Companies, Inc. has a 52-week low of $156.60 and a 52-week high of $213.80.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $3.29 EPS for the quarter, topping 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%.Marsh & McLennan Companies's revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate 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 given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, July 23rd. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.90. Marsh & McLennan Companies's payout ratio is currently 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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