Empowered Funds LLC Takes Position in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Empowered Funds LLC acquired 41,399 shares of Marsh & McLennan Companies in the second quarter, valued at approximately $6.9 million. Institutional investors collectively own 87.99% of the company.
• Marsh & McLennan reported quarterly earnings of $2.96 per share, beating estimates of $2.89, while revenue rose 6.2% year over year to $7.28 billion.
• The company increased its quarterly dividend from $0.90 to $0.99 per share, equivalent to an annualized dividend of $3.96 and a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $203.50.

Empowered Funds LLC acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 41,399 shares of the financial services provider's stock, valued at approximately $6,900,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. United Capital Financial Advisors LLC purchased a new stake in Marsh & McLennan Companies during the second quarter worth about $2,251,000. Equitable Holdings Inc. purchased a new stake in shares of Marsh & McLennan Companies during the 2nd quarter worth approximately $2,454,000. Coastal Bridge Advisors LLC bought a new stake in shares of Marsh & McLennan Companies in the second quarter valued at $654,000. Public Employees Retirement System of Ohio purchased a new position in shares of Marsh & McLennan Companies during the 2nd quarter valued at $30,929,000. Finally, MASTERINVEST Kapitalanlage GmbH bought a new position in shares of Marsh & McLennan Companies during the 2nd quarter worth $306,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Marsh & McLennan Companies Trading Up 0.1%

Shares of NYSE:MRSH opened at $192.90 on Monday. 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 company's 50-day moving average is $182.75. The company has a market capitalization of $92.05 billion, a PE ratio of 23.58, a P/E/G ratio of 2.67 and a beta of 0.59. Marsh & McLennan Companies, Inc. has a 12-month low of $156.60 and a 12-month high of $207.82.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.07. The firm had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.The company's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts predict that Marsh & McLennan Companies, Inc. will post 10.44 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, July 23rd were paid a $0.99 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.90. This represents a $3.96 annualized dividend and a dividend yield of 2.1%. Marsh & McLennan Companies's payout ratio is 48.41%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MRSH. 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 report on Wednesday, July 22nd. Piper Sandler reduced their price objective on shares of 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. UBS Group raised their price target on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the company a "buy" rating in a report on Monday, July 27th. Citigroup downgraded Marsh & McLennan Companies from a "buy" rating to a "neutral" rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $203.50.

Insiders Place Their Bets

In related news, Director Lloyd M. Yates sold 12,000 shares of the firm's stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $175.65, for a total value of $2,107,800.00. Following the completion of the sale, the director owned 12,001 shares of the company's stock, valued at $2,107,975.65. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Q. Doyle sold 16,656 shares of the business's 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 in the company, valued at approximately $18,889,506.81. The trade was a 12.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 36,469 shares of company stock worth $6,291,345 in the last quarter. 0.38% of the stock is currently owned by company insiders.

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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