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

Key Points

• Gabelli Funds acquired 60,700 shares of Marsh & McLennan Companies in the first quarter, valued at approximately $10.5 million. Institutional investors collectively own 87.99% of the company.
• Marsh & McLennan exceeded quarterly earnings expectations, reporting $2.96 EPS versus the $2.89 consensus estimate, 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 $3.96 dividend and a 2.2% yield; analysts maintain a consensus “Hold” rating with a $201.69 price target.

Gabelli Funds LLC acquired a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 60,700 shares of the financial services provider's stock, valued at approximately $10,528,000.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at about $4,057,682,000. Capital International Investors acquired a new position in shares of Marsh & McLennan Companies during the 4th quarter worth about $3,482,557,000. Capital World Investors bought a new stake in Marsh & McLennan Companies during the 4th quarter valued at approximately $3,140,284,000. Wellington Management Group LLP acquired a new stake in Marsh & McLennan Companies in the 4th quarter valued at approximately $2,967,927,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Marsh & McLennan Companies in the 4th quarter worth approximately $1,710,101,000. Institutional investors own 87.99% of the company's stock.

Wall Street Analysts Forecast Growth

MRSH has been the topic of several research analyst reports. Cantor Fitzgerald raised their price objective on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. UBS Group increased their price target on shares of Marsh & McLennan Companies from $203.00 to $212.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Bank of America dropped their price objective on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. Piper Sandler cut 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 report on Tuesday, May 26th. Finally, Barclays decreased their target price on Marsh & McLennan Companies from $209.00 to $206.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 8th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $201.69.

Insider Buying and Selling

In other news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction on Tuesday, June 2nd. The stock was 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 $18,889,506.81. This represents a 12.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.38% of the company's stock.

Marsh & McLennan Companies Stock Down 0.0%

MRSH opened at $180.66 on Monday. The stock has a market capitalization of $86.21 billion, a PE ratio of 22.09, a PEG ratio of 2.60 and a beta of 0.61. 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, Inc. has a twelve month low of $156.60 and a twelve month high of $213.80.

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 (EPS) for the quarter, beating 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. The company's revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts expect that Marsh & McLennan Companies, Inc. will post 10.41 earnings per share for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd will be paid a $0.99 dividend. The ex-dividend date of this dividend is Thursday, July 23rd. This is a boost 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 2.2%. Marsh & McLennan Companies's payout ratio is 48.41%.

Marsh & McLennan Companies Profile

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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