Mattern Capital Management LLC bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) during the first quarter, HoldingsChannel.com reports. The fund bought 5,492 shares of the financial services provider’s stock, valued at approximately $953,000.
A number of other large investors have also recently made changes to their positions in the stock. Sterling Group Wealth Management LLC bought a new position in Marsh & McLennan Companies in the 1st quarter worth about $262,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Marsh & McLennan Companies during the first quarter valued at approximately $784,000. Bryn Mawr Trust Advisors LLC purchased a new stake in shares of Marsh & McLennan Companies in the first quarter valued at approximately $1,530,000. Bleakley Financial Group LLC grew its stake in Marsh & McLennan Companies by 7.2% in the first quarter. Bleakley Financial Group LLC now owns 40,502 shares of the financial services provider’s stock worth $7,025,000 after purchasing an additional 2,703 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new position in Marsh & McLennan Companies during the 1st quarter worth $22,683,000. 87.99% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Cantor Fitzgerald upped their target price on Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Piper Sandler cut their price target on 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. JPMorgan Chase & Co. upped their price objective on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday. Morgan Stanley dropped their target price on shares of Marsh & McLennan Companies from $180.00 to $175.00 and set an “equal weight” rating on the stock in a report on Monday, July 6th. Finally, Weiss Ratings downgraded shares of Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $200.81.
Insider Activity at Marsh & McLennan Companies
In other news, CEO John Q. Doyle sold 16,656 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 116,811 shares in the company, valued at approximately $18,889,506.81. This trade represents a 12.48% decrease in their position. The transaction was disclosed in a 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. Insiders own 0.38% of the company’s stock.
Marsh & McLennan Companies Stock Up 1.9%
Shares of NYSE MRSH opened at $181.67 on Tuesday. Marsh & McLennan Companies, Inc. has a 12-month low of $156.60 and a 12-month high of $216.32. The firm has a market cap of $87.76 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.60 and a beta of 0.61. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.28.
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 EPS for the quarter, topping the consensus estimate of $3.21 by $0.08. The firm had revenue of $7.30 billion during the quarter. Marsh & McLennan Companies had a return on equity of 31.87% and a net margin of 14.26%.Marsh & McLennan Companies’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.37 earnings per share for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd will be issued a $0.99 dividend. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. This represents a $3.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, July 23rd. Marsh & McLennan Companies’s dividend payout ratio is presently 45.00%.
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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