Hsbc Holdings PLC raised its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,022,077 shares of the financial services provider’s stock after purchasing an additional 36,397 shares during the period. Hsbc Holdings PLC’s holdings in Marsh & McLennan Companies were worth $170,412,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of MRSH. Focus Partners Advisor Solutions LLC bought a new position in Marsh & McLennan Companies in the 2nd quarter valued at $2,153,000. Swiss Life Asset Management Ltd boosted its stake in Marsh & McLennan Companies by 9.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 134,542 shares of the financial services provider’s stock worth $24,960,000 after acquiring an additional 11,648 shares during the last quarter. Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Marsh & McLennan Companies in the 2nd quarter valued at $3,880,000. Korea Investment CORP acquired a new stake in shares of Marsh & McLennan Companies during the second quarter worth about $46,856,000. Finally, Bank of Nova Scotia acquired a new stake in Marsh & McLennan Companies during the 2nd quarter worth approximately $20,681,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.
Marsh & McLennan Companies Stock Performance
MRSH stock opened at $193.59 on Wednesday. Marsh & McLennan Companies, Inc. has a 52 week low of $156.60 and a 52 week high of $207.82. The company has a 50-day simple moving average of $180.99. The firm has a market capitalization of $92.38 billion, a P/E ratio of 23.67, a PEG ratio of 2.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.14 and a quick ratio of 1.14.
Marsh & McLennan Companies Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, July 23rd were issued a dividend of $0.99 per share. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $3.96 annualized dividend and a dividend yield of 2.0%. Marsh & McLennan Companies’s payout ratio is presently 48.41%.
Insider Activity at Marsh & McLennan Companies
In other news, SVP Paul Beswick sold 713 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total value of $141,174.00. Following the completion of the transaction, the senior vice president directly owned 16,376 shares in the company, valued at approximately $3,242,448. This represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Martin South sold 7,100 shares of the business’s stock in a transaction on 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 owned 16,632 shares in the company, valued at $3,159,913.68. This represents a 29.92% decrease in their position. 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. 0.38% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on MRSH. UBS Group raised their price target on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Citigroup downgraded shares of Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research report on Wednesday, July 22nd. Piper Sandler dropped their target price on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating on the stock in a report on Tuesday, May 26th. Mizuho boosted their price target on Marsh & McLennan Companies from $197.00 to $201.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $203.50.
Check Out Our Latest Report on MRSH
Marsh & McLennan Companies Company 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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