Foyston Gordon & Payne Inc bought a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 72,278 shares of the financial services provider’s stock, valued at approximately $12,121,000. Marsh & McLennan Companies makes up approximately 2.6% of Foyston Gordon & Payne Inc’s holdings, making the stock its 14th biggest holding.
Several other large investors also recently added to or reduced their stakes in the stock. Commerce Bank bought a new stake in shares of Marsh & McLennan Companies in the 2nd quarter valued at approximately $7,854,000. Northwestern Mutual Wealth Management Co. bought a new stake in Marsh & McLennan Companies in the second quarter worth about $5,677,000. Quantbot Technologies LP bought a new position in shares of Marsh & McLennan Companies during the second quarter valued at approximately $9,742,000. Evolve Private Wealth LLC bought a new stake in shares of Marsh & McLennan Companies during the 2nd quarter worth approximately $878,000. Finally, Farringdon Capital Ltd. bought a new position in Marsh & McLennan Companies in the 2nd quarter valued at $328,000. 87.99% of the stock is owned by institutional investors.
Marsh & McLennan Companies Trading Up 1.0%
NYSE MRSH opened at $192.17 on Friday. The business has a fifty day moving average price of $179.88. The stock has a market capitalization of $91.71 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 2.75 and a beta of 0.59. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.22. Marsh & McLennan Companies, Inc. has a 12-month low of $156.60 and a 12-month high of $212.65.
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 $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, July 23rd. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s payout ratio is 48.41%.
Insider Activity at Marsh & McLennan Companies
In other news, CEO John Q. Doyle sold 16,656 shares of Marsh & McLennan Companies stock in a transaction on Tuesday, June 2nd. The shares were 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 directly owned 116,811 shares in the company, valued at approximately $18,889,506.81. The trade was a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd M. Yates sold 12,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director directly owned 12,001 shares in the company, valued at approximately $2,107,975.65. The trade was a 50.00% 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 over the last 90 days. Company insiders own 0.38% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on MRSH shares. Citigroup lowered shares of Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 target price for the company. in a research note on Wednesday, July 22nd. Cantor Fitzgerald boosted their price objective on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings raised shares of Marsh & McLennan Companies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Morgan Stanley lifted their price target on shares of Marsh & McLennan Companies from $180.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, UBS Group increased 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $203.50.
Check Out Our Latest Report on Marsh & McLennan Companies
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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