Sei Investments Co. raised its position in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) by 22.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 334,007 shares of the financial services provider’s stock after purchasing an additional 60,221 shares during the quarter. Sei Investments Co.’s holdings in Marsh & McLennan Companies were worth $57,932,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of MRSH. Solstein Capital LLC acquired a new stake in shares of Marsh & McLennan Companies in the fourth quarter valued at $25,000. SHP Wealth Management acquired a new position in Marsh & McLennan Companies during the 4th quarter worth about $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in Marsh & McLennan Companies during the 4th quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new position in Marsh & McLennan Companies in the 4th quarter valued at about $27,000. Finally, Pinnacle Bancorp Inc. purchased a new stake in Marsh & McLennan Companies during the first quarter worth about $28,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.
Marsh & McLennan Companies Price Performance
Shares of NYSE:MRSH opened at $180.66 on Friday. The company has a market capitalization of $86.21 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.60 and a beta of 0.61. Marsh & McLennan Companies, Inc. has a 52 week low of $156.60 and a 52 week high of $213.80. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 1.22.
Marsh & McLennan Companies Increases Dividend
The firm 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 dividend of $0.99 per share. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. 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%. Marsh & McLennan Companies’s dividend payout ratio is 48.41%.
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Bank of America reduced their target price on shares of Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Citigroup downgraded shares of Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price target for the company. in a research note on Wednesday. Morgan Stanley reduced their price objective on Marsh & McLennan Companies from $180.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Monday, July 6th. Finally, UBS Group boosted their target price on Marsh & McLennan Companies from $203.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Marsh & McLennan Companies presently has an average rating of “Hold” and a consensus price target of $201.69.
View Our Latest Analysis on MRSH
Insiders Place Their Bets
In related news, CEO John Q. Doyle sold 16,656 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total value of $2,693,441.76. Following the completion of the transaction, the chief executive officer directly owned 116,811 shares of the company’s stock, valued at $18,889,506.81. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.38% of the stock is currently owned by insiders.
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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