Glenview Trust Co Has $16.02 Million Holdings in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Glenview Trust Co increased its stake in Marsh & McLennan Companies by 39% in the first quarter, bringing its holdings to 92,359 shares worth about $16.0 million.
• Institutional ownership remains very high, with funds like Vanguard, State Street, and others holding large positions; overall, institutions own 87.99% of the stock.
• Marsh & McLennan recently raised its quarterly dividend to $0.99 per share from $0.90, while analysts currently have a consensus rating of Hold with an average price target of $200.81.

Glenview Trust Co increased its position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 39.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,359 shares of the financial services provider's stock after buying an additional 25,916 shares during the period. Glenview Trust Co's holdings in Marsh & McLennan Companies were worth $16,020,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Marsh & McLennan Companies by 0.8% in 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 in the last quarter. State Street Corp acquired a new stake in Marsh & McLennan Companies during the fourth quarter worth approximately $4,057,682,000. Capital International Investors bought a new stake in Marsh & McLennan Companies in the fourth quarter worth approximately $3,482,557,000. Capital World Investors acquired a new position in Marsh & McLennan Companies in the fourth quarter valued at approximately $3,140,284,000. Finally, Wellington Management Group LLP bought a new position in shares of Marsh & McLennan Companies during the 4th quarter worth approximately $2,967,927,000. Institutional investors own 87.99% of the company's stock.

Wall Street Analysts Forecast Growth

MRSH has been the subject of several research analyst reports. Piper Sandler lowered 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. 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. Wells Fargo & Company dropped their price objective on shares of Marsh & McLennan Companies from $203.00 to $178.00 and set an "equal weight" rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods increased their price objective on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a "market perform" rating in a research report on Friday, April 17th. Finally, JPMorgan Chase & Co. raised their target price on Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has an average rating of "Hold" and a consensus price target of $200.81.

Marsh & McLennan Companies Price Performance

NYSE MRSH opened at $181.82 on Tuesday. The firm has a market capitalization of $87.84 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 2.74 and a beta of 0.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11. Marsh & McLennan Companies, Inc. has a 12-month low of $156.60 and a 12-month high of $213.80.

Marsh & McLennan Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd will be given a dividend of $0.99 per share. 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 annualized dividend and a dividend yield of 2.2%. Marsh & McLennan Companies's payout ratio is presently 45.00%.

Insider Buying and Selling at Marsh & McLennan Companies

In related news, CEO John Q. Doyle sold 16,656 shares of the firm'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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is owned by corporate insiders.

Marsh & McLennan Companies Company 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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