Swiss National Bank lifted its stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,437,800 shares of the financial services provider’s stock after buying an additional 89,500 shares during the period. Swiss National Bank owned approximately 0.30% of Marsh & McLennan Companies worth $249,386,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MRSH. Headlands Technologies LLC purchased a new position in Marsh & McLennan Companies in the 2nd quarter worth approximately $29,000. Solstein Capital LLC purchased a new stake in shares of Marsh & McLennan Companies during the fourth quarter valued at approximately $25,000. SHP Wealth Management acquired a new position in shares of Marsh & McLennan Companies during the fourth quarter worth $26,000. KERR FINANCIAL PLANNING Corp purchased a new position 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 Marsh & McLennan Companies during the 4th quarter valued at $27,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have commented on MRSH shares. Citigroup upgraded shares of Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a report on Wednesday, May 6th. Morgan Stanley dropped their target price on Marsh & McLennan Companies from $180.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Monday, July 6th. Barclays cut their price target on Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. UBS Group raised their price objective on Marsh & McLennan Companies from $203.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $200.81.
Marsh & McLennan Companies Price Performance
MRSH opened at $182.20 on Monday. The stock has a market capitalization of $88.02 billion, a PE ratio of 22.77, a P/E/G ratio of 2.74 and a beta of 0.61. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.28. Marsh & McLennan Companies, Inc. has a 1-year low of $156.60 and a 1-year high of $213.80.
Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.21 by $0.08. The business had revenue of $7.30 billion for the quarter. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.36 earnings per share for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a $3.96 dividend on an annualized basis and a yield of 2.2%. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 45.00%.
Insider Activity at Marsh & McLennan Companies
In other news, CEO John Q. Doyle sold 16,656 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total value of $2,693,441.76. Following the completion of the sale, the chief executive officer directly owned 116,811 shares in the company, valued at approximately $18,889,506.81. The trade was a 12.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.
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