Washington Trust Bank lessened its stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) by 21.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 45,280 shares of the financial services provider’s stock after selling 12,580 shares during the period. Washington Trust Bank’s holdings in Marsh & McLennan Companies were worth $7,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in MRSH. Focus Partners Advisor Solutions LLC purchased a new stake in Marsh & McLennan Companies during the 2nd quarter valued at approximately $2,153,000. Swiss Life Asset Management Ltd lifted its holdings in Marsh & McLennan Companies by 9.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 134,542 shares of the financial services provider’s stock valued at $24,960,000 after acquiring an additional 11,648 shares during the period. Daiichi Life Insurance Co. Ltd. purchased a new stake in Marsh & McLennan Companies during the second quarter worth about $3,880,000. Korea Investment CORP purchased a new position in Marsh & McLennan Companies in the second quarter valued at about $46,856,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Marsh & McLennan Companies during the 2nd quarter valued at approximately $20,681,000. Institutional investors and hedge funds own 87.99% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on MRSH shares. Wells Fargo & Company upped their target price on Marsh & McLennan Companies from $186.00 to $188.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Citigroup cut Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price target for the company. in a report on Wednesday, July 22nd. UBS Group increased their price objective on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Mizuho boosted their target price on shares of Marsh & McLennan Companies from $197.00 to $201.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Finally, Piper Sandler dropped their price target on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Marsh & McLennan Companies currently has an average rating of “Hold” and a consensus price target of $203.50.
Marsh & McLennan Companies Price Performance
Shares of NYSE:MRSH opened at $192.90 on Friday. The stock’s 50-day moving average price is $182.75. The firm has a market capitalization of $92.05 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 2.67 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, Inc. has a 12 month low of $156.60 and a 12 month high of $207.82.
Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.07. The business had revenue of $7.28 billion for the quarter. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.44 earnings per share for the current year.
Marsh & McLennan Companies Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd were paid a dividend of $0.99 per share. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. This represents a $3.96 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, July 23rd. Marsh & McLennan Companies’s payout ratio is presently 48.41%.
Insider Buying and Selling at Marsh & McLennan Companies
In other news, SVP Paul Beswick sold 713 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $198.00, for a total value of $141,174.00. Following the completion of the sale, the senior vice president owned 16,376 shares of the company’s stock, valued at $3,242,448. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 $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. Insiders sold 36,469 shares of company stock worth $6,291,345 over the last three months. 0.38% of the stock is currently owned by insiders.
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.
See Also
- Five stocks we like better than Marsh & McLennan Companies
- From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens
- These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash
- Venture Into High-Volatility Corners of the Market With These 3 ETFs
- 3 Retail Stocks to Watch After a Big Consumer Earnings Week
Want to see what other hedge funds are holding MRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report).
Receive News & Ratings for Marsh & McLennan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marsh & McLennan Companies and related companies with MarketBeat.com's FREE daily email newsletter.
