Citizens Financial Group Inc. RI purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,874 shares of the financial services provider's stock, valued at approximately $1,812,000.
A number of other institutional investors also recently made changes to their positions in the company. Focus Partners Advisor Solutions LLC acquired a new position in Marsh & McLennan Companies in the 2nd quarter worth about $2,153,000. Swiss Life Asset Management Ltd grew its holdings in shares of Marsh & McLennan Companies by 9.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 134,542 shares of the financial services provider's stock worth $24,960,000 after purchasing an additional 11,648 shares during the last quarter. Essex LLC acquired a new stake in Marsh & McLennan Companies during the 1st quarter worth approximately $2,891,000. Vanguard Group Inc. grew its holdings in Marsh & McLennan Companies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 46,589,633 shares of the financial services provider's stock worth $8,643,309,000 after acquiring an additional 387,100 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in Marsh & McLennan Companies by 26.6% in the 4th quarter. Benjamin Edwards Inc. now owns 35,293 shares of the financial services provider's stock valued at $6,549,000 after acquiring an additional 7,418 shares during the period. Institutional investors own 87.99% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on MRSH. JPMorgan Chase & Co. boosted their price objective 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. Citigroup downgraded 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. Weiss Ratings raised Marsh & McLennan Companies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 7th. Cantor Fitzgerald raised their price target on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, Mizuho upped their price objective on shares of Marsh & McLennan Companies from $197.00 to $201.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. One investment 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 given a Sell rating to the company. According to MarketBeat.com, Marsh & McLennan Companies has an average rating of "Hold" and a consensus price target of $201.94.
Read Our Latest Analysis on MRSH
Insider Transactions at Marsh & McLennan Companies
In other news, CEO John Q. Doyle sold 16,656 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the transaction, the chief executive officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $198.00, for a total value of $141,174.00. Following the completion of the sale, 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 position. 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 36,469 shares of company stock worth $6,291,345 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.
Marsh & McLennan Companies Price Performance
Shares of MRSH opened at $184.41 on Tuesday. The firm has a market cap of $88.00 billion, a P/E ratio of 22.54, a PEG ratio of 2.69 and a beta of 0.59. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $213.80. The company has a 50-day moving average price of $178.11. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.14 and a current ratio of 1.14.
Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, topping 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 was up 6.2% on a year-over-year basis. Analysts expect that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd were given a $0.99 dividend. This is an increase from Marsh & McLennan Companies's previous quarterly dividend of $0.90. This represents a $3.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, July 23rd. Marsh & McLennan Companies's dividend payout ratio (DPR) 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.
Further Reading
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