Caisse de depot et placement du Quebec acquired a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 982,538 shares of the financial services provider's stock, valued at approximately $163,760,000. Caisse de depot et placement du Quebec owned about 0.21% of Marsh & McLennan Companies at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Marsh & McLennan Companies during the second quarter valued at approximately $6,583,806,000. State Street Corp purchased a new position in Marsh & McLennan Companies during the 4th quarter valued at $4,057,682,000. Capital International Investors purchased a new stake in shares of Marsh & McLennan Companies in the 4th quarter worth about $3,482,557,000. Capital World Investors bought a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at about $3,140,284,000. Finally, Wellington Management Group LLP bought a new position in Marsh & McLennan Companies in the fourth quarter worth about $2,967,927,000. Institutional investors own 87.99% of the company's stock.
Insider Transactions at Marsh & McLennan Companies
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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Paul Beswick sold 713 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $198.00, for a total transaction of $141,174.00. Following the sale, the senior vice president directly owned 16,376 shares of the company's stock, valued at approximately $3,242,448. This 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. Insiders sold a total of 36,469 shares of company stock worth $6,291,345 in the last ninety days. Insiders own 0.38% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on MRSH shares. Citigroup cut shares of Marsh & McLennan Companies from a "buy" rating to a "neutral" rating and set a $200.00 target price on the stock. in a report on Wednesday, July 22nd. UBS Group raised their target price on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Piper Sandler dropped their price target on 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. Morgan Stanley lifted their price objective on Marsh & McLennan Companies from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. Finally, Mizuho boosted their target price on Marsh & McLennan Companies from $197.00 to $201.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $203.50.
Check Out Our Latest Stock Analysis on Marsh & McLennan Companies
Marsh & McLennan Companies Stock Performance
Shares of NYSE:MRSH opened at $193.58 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.22. The stock has a 50-day simple moving average of $181.58. Marsh & McLennan Companies, Inc. has a fifty-two week low of $156.60 and a fifty-two week high of $207.82. The stock has a market cap of $92.38 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 2.77 and a beta of 0.59.
Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $0.07. The company had revenue of $7.28 billion for the quarter. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, July 23rd were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 2.0%. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, July 23rd. Marsh & McLennan Companies's dividend payout ratio (DPR) is currently 48.41%.
Marsh & McLennan Companies Company Profile
(
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.
Featured Articles
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.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Marsh & McLennan Companies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marsh & McLennan Companies wasn't on the list.
While Marsh & McLennan Companies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Get This Free Report
