Pure Financial Advisors LLC acquired a new position in 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 acquired 3,381 shares of the financial services provider’s stock, valued at approximately $564,000.
Several other institutional investors have also recently added to or reduced their stakes in MRSH. EP Wealth Advisors LLC lifted its stake in Marsh & McLennan Companies by 0.8% during the second quarter. EP Wealth Advisors LLC now owns 8,337 shares of the financial services provider’s stock worth $1,823,000 after purchasing an additional 69 shares in the last quarter. MMA Asset Management LLC raised its holdings in shares of Marsh & McLennan Companies by 1.7% in the 4th quarter. MMA Asset Management LLC now owns 4,083 shares of the financial services provider’s stock valued at $757,000 after buying an additional 70 shares during the period. Continuum Advisory LLC lifted its stake in Marsh & McLennan Companies by 5.3% during the 1st quarter. Continuum Advisory LLC now owns 1,452 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 73 shares in the last quarter. Clearstead Trust LLC boosted its holdings in Marsh & McLennan Companies by 12.6% during the 1st quarter. Clearstead Trust LLC now owns 668 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 75 shares during the period. Finally, GRIMES & Co WEALTH MANAGEMENT LLC grew its position in Marsh & McLennan Companies by 0.9% in the 4th quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 8,883 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on MRSH shares. Cantor Fitzgerald increased their price target on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock 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 on the stock in a research note on Tuesday, May 26th. Mizuho increased their target price on shares of Marsh & McLennan Companies from $197.00 to $201.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Marsh & McLennan Companies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Morgan Stanley upped their price objective on Marsh & McLennan Companies from $180.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $203.50.
Insider Activity
In other news, SVP Paul Beswick sold 713 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total transaction of $141,174.00. Following the completion of the transaction, the senior vice president directly owned 16,376 shares of the company’s stock, valued at approximately $3,242,448. This represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd M. Yates sold 12,000 shares of the stock in a transaction dated 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 owned 12,001 shares in the company, valued at approximately $2,107,975.65. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 36,469 shares of company stock worth $6,291,345. 0.38% of the stock is currently owned by company insiders.
Marsh & McLennan Companies Stock Performance
Shares of Marsh & McLennan Companies stock opened at $189.70 on Friday. The stock’s 50-day moving average is $182.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $207.82. The firm has a market capitalization of $90.53 billion, a P/E ratio of 23.19, a PEG ratio of 2.77 and a beta of 0.59.
Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.07. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The company had revenue of $7.28 billion during the quarter. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 10.44 earnings per share for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, July 23rd were paid a dividend of $0.99 per share. The ex-dividend date was Thursday, July 23rd. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.1%. Marsh & McLennan Companies’s payout ratio is presently 48.41%.
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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