Western Wealth Management LLC bought a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,224 shares of the financial services provider’s stock, valued at approximately $733,000.
Several other large investors have also recently made changes to their positions in MRSH. Brighton Jones LLC grew its stake in shares of Marsh & McLennan Companies by 51.2% in the fourth quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider’s stock worth $1,856,000 after acquiring an additional 2,960 shares during the last quarter. Bison Wealth LLC raised its position in shares of Marsh & McLennan Companies by 39.6% in the 4th quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider’s stock worth $651,000 after purchasing an additional 869 shares during the last quarter. Glenview Trust co boosted its stake in Marsh & McLennan Companies by 10.8% in the 2nd quarter. Glenview Trust co now owns 3,897 shares of the financial services provider’s stock worth $852,000 after purchasing an additional 379 shares in the last quarter. Osterweis Capital Management Inc. grew its position 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 purchasing an additional 922 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in Marsh & McLennan Companies during the 2nd quarter valued at about $1,307,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Marsh & McLennan Companies
In related news, insider Martin South sold 7,100 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $189.99, for a total transaction of $1,348,929.00. Following the completion of the sale, the insider owned 16,632 shares in the company, valued at approximately $3,159,913.68. This represents a 29.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul Beswick sold 713 shares of the stock in a transaction dated 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 transaction, the senior vice president directly owned 16,376 shares in the company, valued at approximately $3,242,448. This represents a 4.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,469 shares of company stock valued at $6,291,345 over the last 90 days. 0.38% of the stock is owned by corporate insiders.
Marsh & McLennan Companies Stock Up 1.8%
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 firm had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. Marsh & McLennan Companies’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd will be paid a dividend of $0.99 per share. The ex-dividend date is Thursday, July 23rd. This represents a $3.96 dividend on an annualized basis and a yield of 2.0%. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 48.41%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on MRSH. Weiss Ratings downgraded shares of Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Piper Sandler reduced 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. Keefe, Bruyette & Woods boosted their price objective on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a “market perform” rating in a report on Friday, April 17th. Wells Fargo & Company increased their target price on Marsh & McLennan Companies from $186.00 to $188.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Finally, Bank of America reduced their target price on Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $201.94.
Read Our Latest Stock Report on MRSH
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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