Saudi Central Bank Purchases 15,643 Shares of Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Saudi Central Bank increased its Marsh & McLennan position by 86.5% in the second quarter, purchasing 15,643 shares and bringing its holdings to 33,726 shares valued at approximately $5.6 million. Institutional investors collectively own 87.99% of the company.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and a consensus price target of $203.50. Recent target prices ranged from $182 to $218.
• Marsh & McLennan exceeded quarterly earnings expectations, reporting $2.96 EPS versus a $2.89 estimate and $7.28 billion in revenue, up 6.2% year over year. The company also raised its quarterly dividend to $0.99, equivalent to a 2.1% annualized yield.

Saudi Central Bank grew its position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) by 86.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,726 shares of the financial services provider's stock after buying an additional 15,643 shares during the quarter. Saudi Central Bank's holdings in Marsh & McLennan Companies were worth $5,621,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

MRSH has been the subject of several research reports. Cantor Fitzgerald lifted their price objective on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Weiss Ratings raised Marsh & McLennan Companies from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Wells Fargo & Company lifted their target price on Marsh & McLennan Companies from $186.00 to $188.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. UBS Group raised their target price on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Piper Sandler lowered their price target on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating on the stock 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 given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $203.50.

Marsh & McLennan Companies Stock Performance

MRSH stock opened at $185.80 on Monday. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $207.82. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.22. The firm's fifty day moving average price is $185.10. The firm has a market capitalization of $88.67 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.58 and a beta of 0.58.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.07. The business had revenue of $7.28 billion for the quarter. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. Marsh & McLennan Companies's quarterly revenue was up 6.2% on a year-over-year basis. Research analysts predict that Marsh & McLennan Companies, Inc. will post 10.44 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 given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 2.1%. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, July 23rd. Marsh & McLennan Companies's dividend payout ratio (DPR) is 48.41%.

Insider Transactions at Marsh & McLennan Companies

In related news, Director Lloyd Yates sold 12,000 shares of the firm's stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $175.65, for a total value of $2,107,800.00. Following the transaction, the director directly owned 12,001 shares of the company's stock, valued at approximately $2,107,975.65. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Martin South sold 7,100 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $189.99, for a total value of $1,348,929.00. Following the transaction, the insider directly owned 16,632 shares of the company's stock, valued at $3,159,913.68. The trade was a 29.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,813 shares of company stock valued at $3,597,903 over the last 90 days. Corporate insiders own 0.38% of the company's stock.

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.

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.