Sanctuary Advisors LLC acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 75,698 shares of the financial services provider's stock, valued at approximately $12,617,000.
A number of other institutional investors have also modified their holdings of MRSH. Vanguard Group Inc. raised its holdings in Marsh & McLennan Companies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 46,589,633 shares of the financial services provider's stock valued at $8,643,309,000 after buying an additional 387,100 shares during the period. BlackRock Inc. purchased a new stake in Marsh & McLennan Companies during the second quarter worth approximately $6,583,806,000. State Street Corp acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter worth $4,057,682,000. Capital International Investors purchased a new position in shares of Marsh & McLennan Companies in the 4th quarter valued at $3,482,557,000. Finally, Capital World Investors acquired a new position in shares of Marsh & McLennan Companies during the 4th quarter valued at $3,140,284,000. Hedge funds and other institutional investors own 87.99% of the company's stock.
Wall Street Analysts Forecast Growth
MRSH has been the subject of several recent research reports. Citigroup downgraded Marsh & McLennan Companies from a "buy" rating to a "neutral" rating and set a $200.00 price target for the company. in a report on Wednesday, July 22nd. Cantor Fitzgerald boosted their price objective on Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Morgan Stanley increased their target price on Marsh & McLennan Companies from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. Mizuho boosted their price target on Marsh & McLennan Companies from $197.00 to $201.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler decreased their price target on Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating for the company in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Marsh & McLennan Companies has an average rating of "Hold" and an average target price of $203.50.
Check Out Our Latest Report on MRSH
Insider Transactions at Marsh & McLennan Companies
In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total transaction 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 trade represents a 12.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Paul Beswick sold 713 shares of Marsh & McLennan Companies stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total value of $141,174.00. Following the completion of the transaction, the senior vice president owned 16,376 shares of the company's stock, valued at approximately $3,242,448. The trade was a 4.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,469 shares of company stock valued at $6,291,345 over the last ninety days. 0.38% of the stock is currently owned by company insiders.
Marsh & McLennan Companies Trading Up 0.1%
Marsh & McLennan Companies stock opened at $192.17 on Monday. Marsh & McLennan Companies, Inc. has a 52 week low of $156.60 and a 52 week high of $212.65. 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 stock has a market cap of $91.71 billion, a PE ratio of 23.49, a P/E/G ratio of 2.75 and a beta of 0.59. The firm's 50 day simple moving average is $179.88.
Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted 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 net margin of 14.24% and a return on equity of 32.67%. The firm had revenue of $7.28 billion for the quarter. The firm's revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 10.43 earnings per share for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd were paid a $0.99 dividend. This is a boost from Marsh & McLennan Companies's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, July 23rd. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.1%. Marsh & McLennan Companies's dividend payout ratio (DPR) is currently 48.41%.
Marsh & McLennan Companies Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding MRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report).
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