Madison Asset Management LLC bought a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 355,913 shares of the financial services provider’s stock, valued at approximately $61,733,000. Madison Asset Management LLC owned 0.07% of Marsh & McLennan Companies as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Marsh & McLennan Companies during the 2nd quarter worth approximately $29,000. Solstein Capital LLC acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter worth approximately $25,000. SHP Wealth Management purchased a new stake in shares of Marsh & McLennan Companies during the fourth quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Marsh & McLennan Companies in the 4th quarter valued at $27,000. Finally, Golden State Wealth Management LLC purchased a new position in Marsh & McLennan Companies in the 4th quarter valued at $27,000. 87.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on MRSH shares. Weiss Ratings lowered shares of Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods boosted their price target on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a “market perform” rating in a research report on Friday, April 17th. Bank of America cut their price objective on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. JPMorgan Chase & Co. boosted their target price on Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Finally, Piper Sandler cut 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 research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Marsh & McLennan Companies presently has an average rating of “Hold” and an average price target of $200.81.
Insiders Place Their Bets
In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the firm’s stock in a transaction 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Stock Down 0.2%
Shares of MRSH stock opened at $181.82 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.28. The stock has a market cap of $87.84 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 2.74 and a beta of 0.61. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $213.80.
Marsh & McLennan Companies Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 23rd will be issued a $0.99 dividend. This is a boost 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 2.2%. The ex-dividend date is Thursday, July 23rd. Marsh & McLennan Companies’s payout ratio is currently 45.00%.
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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