Beacon Pointe Advisors LLC bought a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 18,848 shares of the financial services provider's stock, valued at approximately $3,141,000.
Several other institutional investors and hedge funds have also bought and sold shares of MRSH. Solstein Capital LLC purchased a new position in shares of Marsh & McLennan Companies in the fourth quarter worth $25,000. Asset Dedication LLC purchased a new stake in Marsh & McLennan Companies during the 1st quarter valued at $25,000. SHP Wealth Management bought a new stake in Marsh & McLennan Companies in the 4th quarter worth $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Marsh & McLennan Companies in the fourth quarter valued at about $27,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Marsh & McLennan Companies during the fourth quarter valued at about $27,000. 87.99% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
MRSH has been the topic of several recent analyst reports. Morgan Stanley raised their target price on Marsh & McLennan Companies from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 19th. UBS Group upped their price target on Marsh & McLennan Companies from $212.00 to $216.00 and gave the company a "buy" rating in a research report on Monday, July 27th. JPMorgan Chase & Co. lifted their price objective on Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Cantor Fitzgerald boosted their target price on Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, Piper Sandler dropped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Marsh & McLennan Companies presently has an average rating of "Hold" and a consensus price target of $203.50.
Read Our Latest Report on Marsh & McLennan Companies
Insider Buying and Selling at Marsh & McLennan Companies
In other news, CEO John Q. Doyle sold 16,656 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 116,811 shares of the company's stock, valued at $18,889,506.81. This represents a 12.48% decrease in their position. The transaction was disclosed in a 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. Also, SVP Paul Beswick sold 713 shares of Marsh & McLennan Companies stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $198.00, for a total transaction of $141,174.00. Following the transaction, the senior vice president directly owned 16,376 shares of the company's stock, valued at approximately $3,242,448. This trade represents a 4.17% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 36,469 shares of company stock worth $6,291,345. Corporate insiders own 0.38% of the company's stock.
Marsh & McLennan Companies Price Performance
Shares of MRSH opened at $192.90 on Friday. The business has a 50-day moving average of $182.75. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $92.05 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 2.67 and a beta of 0.59. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $207.82.
Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.07. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.The firm had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies's quarterly revenue was up 6.2% on a year-over-year basis. Analysts expect that Marsh & McLennan Companies, Inc. will post 10.44 EPS for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd were given a dividend of $0.99 per share. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.90. This represents a $3.96 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, July 23rd. Marsh & McLennan Companies's payout ratio is 48.41%.
Marsh & McLennan Companies 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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