Envestnet Portfolio Solutions Inc. lifted its stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) by 83.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 37,037 shares of the financial services provider’s stock after purchasing an additional 16,844 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Marsh & McLennan Companies were worth $6,867,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Marsh & McLennan Companies by 51.2% in the 4th quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider’s stock worth $1,856,000 after purchasing an additional 2,960 shares in the last quarter. Bison Wealth LLC grew its holdings in Marsh & McLennan Companies by 39.6% during the 4th quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider’s stock valued at $651,000 after buying an additional 869 shares in the last quarter. Glenview Trust co grew its holdings in Marsh & McLennan Companies by 10.8% during the 2nd quarter. Glenview Trust co now owns 3,897 shares of the financial services provider’s stock valued at $852,000 after buying an additional 379 shares in the last quarter. Osterweis Capital Management Inc. grew its holdings in Marsh & McLennan Companies by 18,440.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 927 shares of the financial services provider’s stock valued at $203,000 after buying an additional 922 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in Marsh & McLennan Companies during the 2nd quarter valued at approximately $1,307,000. Institutional investors own 87.99% of the company’s stock.
Insider Activity
In other news, CEO John Q. Doyle sold 16,655 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $183.30, for a total value of $3,052,861.50. Following the completion of the sale, the chief executive officer directly owned 116,811 shares of the company’s stock, valued at $21,411,456.30. This trade represents a 12.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by insiders.
Marsh & McLennan Companies Stock Up 0.2%
Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.08. The company had revenue of $7.30 billion for the quarter. Marsh & McLennan Companies had a net margin of 14.26% and a return on equity of 31.87%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.37 earnings per share for the current fiscal year.
Marsh & McLennan Companies Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, April 9th. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 45.00%.
Analysts Set New Price Targets
A number of brokerages have issued reports on MRSH. Morgan Stanley cut their price objective on shares of Marsh & McLennan Companies from $195.00 to $190.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Wells Fargo & Company cut their price objective on shares of Marsh & McLennan Companies from $203.00 to $178.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Weiss Ratings cut Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Citigroup raised Marsh & McLennan Companies from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a report on Wednesday, May 6th. Finally, Cantor Fitzgerald lifted their target price on Marsh & McLennan Companies from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $205.00.
View Our Latest Stock Analysis on Marsh & McLennan Companies
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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