Simplicity Wealth LLC Buys New Holdings in Marsh & McLennan Companies, Inc. $MRSH

Key Points

• Simplicity Wealth LLC purchased 6,992 shares of Marsh & McLennan Companies valued at approximately $1.17 million. Institutional investors collectively own 87.99% of the company’s stock.
• The company beat quarterly earnings estimates with $2.96 EPS versus the $2.89 consensus, while revenue rose 6.2% year over year to $7.28 billion. It also increased its quarterly dividend to $0.99 per share, an annualized yield of approximately 2.1%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $201.94. Meanwhile, insiders sold 36,469 shares worth about $6.29 million during the last quarter.

Simplicity Wealth LLC purchased a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,992 shares of the financial services provider's stock, valued at approximately $1,165,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss Life Asset Management Ltd lifted its position in Marsh & McLennan Companies by 9.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 134,542 shares of the financial services provider's stock valued at $24,960,000 after buying an additional 11,648 shares during the period. Essex LLC purchased a new position in shares of Marsh & McLennan Companies in the 1st quarter worth $2,891,000. Vanguard Group Inc. grew its position in Marsh & McLennan Companies by 0.8% during 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. Mirae Asset Global Investments Co. Ltd. grew its holdings in Marsh & McLennan Companies by 20.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,934 shares of the financial services provider's stock valued at $16,499,000 after purchasing an additional 15,166 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in shares of Marsh & McLennan Companies by 26.6% in the fourth quarter. Benjamin Edwards Inc. now owns 35,293 shares of the financial services provider's stock worth $6,549,000 after purchasing an additional 7,418 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Lloyd M. Yates sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, July 23rd. The stock was 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 in the company, valued at approximately $2,107,975.65. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Martin South sold 7,100 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $189.99, for a total value of $1,348,929.00. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 36,469 shares of company stock valued at $6,291,345 in the last quarter. Corporate insiders own 0.38% of the company's stock.

Marsh & McLennan Companies Trading Down 0.0%

Shares of Marsh & McLennan Companies stock opened at $187.75 on Monday. Marsh & McLennan Companies, Inc. has a twelve month low of $156.60 and a twelve month high of $213.80. The company has a 50-day moving average of $177.66. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $89.60 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.69 and a beta of 0.59.

Marsh & McLennan Companies (NYSE:MRSH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 EPS for the quarter, beating the consensus estimate of $2.89 by $0.07. The firm had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.Marsh & McLennan Companies's quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, July 23rd were given a dividend of $0.99 per share. The ex-dividend date was Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies's previous quarterly dividend of $0.90. This represents a $3.96 dividend on an annualized basis and a yield of 2.1%. Marsh & McLennan Companies's dividend payout ratio (DPR) is 48.41%.

Analysts Set New Price Targets

MRSH has been the subject of a number of research analyst reports. Piper Sandler cut their price objective on Marsh & McLennan Companies from $190.00 to $182.00 and set a "neutral" rating for the company in a research report on Tuesday, May 26th. Morgan Stanley reduced their price objective on 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. Wells Fargo & Company boosted their price target on Marsh & McLennan Companies from $186.00 to $188.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. Cantor Fitzgerald increased their price target on Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, UBS Group raised their price objective on Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned 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.com, the stock has a consensus rating of "Hold" and a consensus price target of $201.94.

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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