Legal & General Group Plc Acquires New Stake in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Legal & General Group Plc acquired 2.79 million Marsh & McLennan shares worth approximately $465.6 million, representing a 0.59% stake. Institutional investors and hedge funds collectively own 87.99% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $203.50; targets range from $182 to $216.
• Marsh & McLennan beat quarterly EPS estimates, reporting $2.96 versus $2.89 expected, while revenue rose 6.2% year over year to $7.28 billion. The company also increased its quarterly dividend to $0.99 per share, implying a 2.0% yield.

Legal & General Group Plc bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 2,793,483 shares of the financial services provider's stock, valued at approximately $465,590,000. Legal & General Group Plc owned 0.59% of Marsh & McLennan Companies at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MRSH. BlackRock Inc. acquired a new position in shares of Marsh & McLennan Companies in the second quarter worth approximately $6,583,806,000. State Street Corp acquired a new stake in Marsh & McLennan Companies during the 4th quarter valued at approximately $4,057,682,000. Capital International Investors bought a new position in Marsh & McLennan Companies during the 4th quarter worth approximately $3,482,557,000. Capital World Investors acquired a new position in shares of Marsh & McLennan Companies in the 4th quarter worth approximately $3,140,284,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth $2,967,927,000. Institutional investors and hedge funds own 87.99% of the company's stock.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, SVP Paul Beswick sold 713 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $198.00, for a total transaction of $141,174.00. Following the completion of the sale, the senior vice president owned 16,376 shares in the company, valued at approximately $3,242,448. The trade was a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd M. Yates sold 12,000 shares of the firm's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $175.65, for a total transaction of $2,107,800.00. Following the completion of the transaction, the director directly owned 12,001 shares in the company, valued at $2,107,975.65. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 36,469 shares of company stock valued at $6,291,345 over the last ninety days. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MRSH. Citigroup lowered shares of 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. UBS Group lifted their price objective on Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Mizuho upped their target price on Marsh & McLennan Companies from $197.00 to $201.00 and gave the company a "neutral" rating in a research report on Wednesday, July 22nd. Morgan Stanley lifted their target price on Marsh & McLennan Companies from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 19th. Finally, Piper Sandler dropped their price target on Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Marsh & McLennan Companies has a consensus rating of "Hold" and an average target price of $203.50.

Marsh & McLennan Companies Trading Down 0.6%

Shares of NYSE MRSH opened at $193.59 on Wednesday. The firm has a market capitalization of $92.38 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 2.79 and a beta of 0.59. The firm's 50-day moving average is $180.99. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.22. Marsh & McLennan Companies, Inc. has a 1-year low of $156.60 and a 1-year high of $207.82.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $7.28 billion during the quarter. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current year.

Marsh & McLennan Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd were issued a dividend of $0.99 per share. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.90. This represents a $3.96 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Thursday, July 23rd. Marsh & McLennan Companies's dividend payout ratio is presently 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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