State of Michigan Retirement System acquired a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) in the first quarter, Holdings Channel.com reports. The firm acquired 130,775 shares of the financial services provider’s stock, valued at approximately $22,683,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Procyon Advisors LLC raised its position in shares of Marsh & McLennan Companies by 2.5% in the fourth quarter. Procyon Advisors LLC now owns 2,279 shares of the financial services provider’s stock worth $423,000 after buying an additional 56 shares in the last quarter. PFG Investments LLC grew its position in Marsh & McLennan Companies by 3.3% during the fourth quarter. PFG Investments LLC now owns 1,758 shares of the financial services provider’s stock worth $326,000 after buying an additional 56 shares in the last quarter. Lindenwold Advisors INC raised its holdings in shares of Marsh & McLennan Companies by 0.4% in the 3rd quarter. Lindenwold Advisors INC now owns 14,994 shares of the financial services provider’s stock valued at $3,022,000 after acquiring an additional 62 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in Marsh & McLennan Companies by 3.9% during the fourth quarter. SeaCrest Wealth Management LLC now owns 1,673 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 63 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in Marsh & McLennan Companies by 0.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 8,337 shares of the financial services provider’s stock worth $1,823,000 after buying an additional 69 shares in the last quarter. 87.99% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Marsh & McLennan Companies
In related news, CEO John Q. Doyle sold 16,656 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the transaction, the chief executive officer owned 116,811 shares in the company, valued at $18,889,506.81. The trade was a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Trading Down 1.7%
Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.08. The company 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%.The business’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts expect that Marsh & McLennan Companies, Inc. will post 10.37 earnings per share for the current year.
Marsh & McLennan Companies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a $3.96 annualized dividend and a dividend yield of 2.2%. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio is 45.00%.
Analyst Ratings Changes
MRSH has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley dropped their price target on Marsh & McLennan Companies from $180.00 to $175.00 and set an “equal weight” rating for the company in a research note on Monday, July 6th. Mizuho upped their price objective on Marsh & McLennan Companies from $194.00 to $197.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Bank of America decreased their price objective on Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Finally, Barclays dropped their target price on Marsh & McLennan Companies from $209.00 to $206.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $200.81.
View Our Latest Report on Marsh & McLennan Companies
About Marsh & McLennan Companies
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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