Pallas Capital Advisors LLC Takes Position in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Pallas Capital Advisors acquired 7,603 shares of Marsh & McLennan Companies valued at approximately $1.27 million, while institutional investors collectively own 87.99% of the stock.
• Analyst sentiment remains broadly neutral, with the stock carrying an average “Hold” rating and a consensus price target of $201.94; recent targets range from $175 to $216.
• The company exceeded quarterly earnings expectations, reporting $2.96 EPS and $7.28 billion in revenue, while raising its quarterly dividend to $0.99 per share, or a 2.1% annualized yield.

Pallas Capital Advisors LLC purchased a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,603 shares of the financial services provider's stock, valued at approximately $1,267,000.

A number of other hedge funds also recently bought and sold shares of the company. Solstein Capital LLC acquired a new stake in shares of Marsh & McLennan Companies during the fourth quarter valued at approximately $25,000. Asset Dedication LLC acquired a new position in Marsh & McLennan Companies in the 1st quarter worth approximately $25,000. SHP Wealth Management acquired a new stake in Marsh & McLennan Companies during the 4th quarter valued at $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at $27,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter worth $27,000. 87.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MRSH. UBS Group upped their price target on Marsh & McLennan Companies from $212.00 to $216.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Piper Sandler lowered their target price 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. Morgan Stanley reduced their price target on shares of Marsh & McLennan Companies from $180.00 to $175.00 and set an "equal weight" rating for the company in a research report on Monday, July 6th. Mizuho boosted their price objective on shares of Marsh & McLennan Companies from $197.00 to $201.00 and gave the company a "neutral" rating in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of 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 investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $201.94.

Marsh & McLennan Companies Price Performance

Shares of MRSH stock opened at $186.49 on Wednesday. Marsh & McLennan Companies, Inc. has a fifty-two week low of $156.60 and a fifty-two week high of $213.80. The business has a 50-day moving average price of $178.52. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $88.99 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 2.69 and a beta of 0.59.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last announced its quarterly earnings results 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 business 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. As a group, research analysts expect that Marsh & McLennan Companies, Inc. will post 10.43 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. Shareholders of record on Thursday, July 23rd were given a $0.99 dividend. 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 yield of 2.1%. The ex-dividend date of this dividend was Thursday, July 23rd. Marsh & McLennan Companies's payout ratio is presently 48.41%.

Insider Buying and Selling at Marsh & McLennan Companies

In other news, insider Martin South sold 7,100 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $189.99, for a total transaction of $1,348,929.00. Following the transaction, the insider owned 16,632 shares in the company, valued at approximately $3,159,913.68. This trade represents a 29.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Paul Beswick sold 713 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was 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 of the company's stock, valued at $3,242,448. This represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 36,469 shares of company stock worth $6,291,345. Company insiders own 0.38% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source