Jennison Associates LLC Invests $38.61 Million in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Jennison Associates LLC disclosed a new stake in Marsh & McLennan Companies during the first quarter, buying 222,594 shares valued at about $38.6 million.
• Analyst sentiment remains mixed, with Marsh & McLennan carrying an overall “Hold” rating and a consensus price target of $200.81, though some firms recently raised targets and kept bullish ratings.
• The company increased its quarterly dividend to $0.99 per share from $0.90, lifting the annualized payout to $3.96 and the dividend yield to about 2.2%.

Jennison Associates LLC bought a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 222,594 shares of the financial services provider's stock, valued at approximately $38,609,000.

Other large investors have also recently added to or reduced their stakes in the company. Solstein Capital LLC purchased a new stake in Marsh & McLennan Companies in the 4th quarter valued at approximately $25,000. SHP Wealth Management acquired a new stake in shares of Marsh & McLennan Companies in the 4th quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new position in Marsh & McLennan Companies during the fourth quarter worth $27,000. Finally, Pinnacle Bancorp Inc. purchased a new position in Marsh & McLennan Companies in the first quarter worth $28,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Cantor Fitzgerald boosted their target price on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Barclays reduced their price objective on shares of Marsh & McLennan Companies from $209.00 to $206.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Morgan Stanley decreased their price objective on shares of Marsh & McLennan Companies from $180.00 to $175.00 and set an "equal weight" rating on the stock in a report on Monday, July 6th. Weiss Ratings cut shares of Marsh & McLennan Companies from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the company a "market perform" rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Marsh & McLennan Companies has an average rating of "Hold" and a consensus target price of $200.81.

Marsh & McLennan Companies Stock Down 0.2%

NYSE:MRSH opened at $181.82 on Tuesday. Marsh & McLennan Companies, Inc. has a 52-week low of $156.60 and a 52-week high of $213.80. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $87.84 billion, a PE ratio of 22.73, a PEG ratio of 2.74 and a beta of 0.61.

Marsh & McLennan Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 2.2%. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, July 23rd. Marsh & McLennan Companies's payout ratio is currently 45.00%.

Insider Activity at Marsh & McLennan Companies

In other news, CEO John Q. Doyle sold 16,656 shares of the 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 sale, the chief executive officer directly owned 116,811 shares in the company, valued at $18,889,506.81. This represents a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.

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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