Daiichi Life Insurance Co. Ltd. bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,277 shares of the financial services provider’s stock, valued at approximately $3,880,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Marsh & McLennan Companies in the 2nd quarter valued at about $6,583,806,000. State Street Corp bought a new position in Marsh & McLennan Companies in the fourth quarter valued at approximately $4,057,682,000. Capital International Investors bought a new stake in shares of Marsh & McLennan Companies during the 4th quarter worth approximately $3,482,557,000. Capital World Investors acquired a new stake in shares of Marsh & McLennan Companies in the 4th quarter valued at approximately $3,140,284,000. Finally, Wellington Management Group LLP acquired a new position in Marsh & McLennan Companies during the fourth quarter worth $2,967,927,000. 87.99% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on MRSH shares. Cantor Fitzgerald lifted 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. Piper Sandler cut their target price on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. Citigroup downgraded Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research report on Wednesday, July 22nd. Mizuho raised their price objective on Marsh & McLennan Companies from $197.00 to $201.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley lifted their target price on Marsh & McLennan Companies from $180.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $203.50.
Marsh & McLennan Companies Stock Up 0.1%
MRSH stock opened at $192.17 on Monday. The firm has a 50-day moving average price of $179.88. Marsh & McLennan Companies, Inc. has a 12 month low of $156.60 and a 12 month high of $212.65. 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 company has a market cap 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.
Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.07. The company 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. Equities analysts predict that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current year.
Marsh & McLennan Companies Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s payout ratio is presently 48.41%.
Insider Buying and Selling at Marsh & McLennan Companies
In other news, Director Lloyd M. Yates sold 12,000 shares of Marsh & McLennan Companies stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $175.65, for a total transaction of $2,107,800.00. Following the transaction, the director 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction on Tuesday, June 2nd. The shares were 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 owned 116,811 shares of the company’s stock, valued at $18,889,506.81. The trade was a 12.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 36,469 shares of company stock valued at $6,291,345. 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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