Beverly Hills Private Wealth LLC purchased a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) in the second quarter, HoldingsChannel reports. The institutional investor purchased 3,019 shares of the financial services provider’s stock, valued at approximately $503,000.
Several other institutional investors have also recently made changes to their positions in MRSH. Swiss Life Asset Management Ltd lifted its position in shares of Marsh & McLennan Companies by 9.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 134,542 shares of the financial services provider’s stock valued at $24,960,000 after buying an additional 11,648 shares in the last quarter. Essex LLC bought a new stake in Marsh & McLennan Companies during the 1st quarter worth approximately $2,891,000. Vanguard Group Inc. lifted its holdings in Marsh & McLennan Companies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 46,589,633 shares of the financial services provider’s stock valued at $8,643,309,000 after purchasing an additional 387,100 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Marsh & McLennan Companies by 20.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,934 shares of the financial services provider’s stock worth $16,499,000 after purchasing an additional 15,166 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in shares of Marsh & McLennan Companies by 26.6% in the fourth quarter. Benjamin Edwards Inc. now owns 35,293 shares of the financial services provider’s stock worth $6,549,000 after purchasing an additional 7,418 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.
Marsh & McLennan Companies Stock Down 0.0%
Shares of MRSH stock opened at $187.75 on Monday. The stock has a market cap of $89.60 billion, a PE ratio of 22.95, a P/E/G ratio of 2.69 and a beta of 0.59. The business has a fifty day moving average of $177.66. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.14 and a current ratio of 1.14. Marsh & McLennan Companies, Inc. has a 52 week low of $156.60 and a 52 week high of $213.80.
Marsh & McLennan Companies Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd were issued a dividend of $0.99 per share. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $3.96 annualized dividend and a dividend yield of 2.1%. Marsh & McLennan Companies’s payout ratio is currently 48.41%.
Insider Transactions at Marsh & McLennan Companies
In other news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the completion of the transaction, the chief executive officer directly owned 116,811 shares in the company, valued at approximately $18,889,506.81. This represents a 12.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Paul Beswick sold 713 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total transaction of $141,174.00. Following the completion of the sale, the senior vice president owned 16,376 shares in the company, valued at $3,242,448. This represents a 4.17% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders own 0.38% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on MRSH. Mizuho lifted their target price on shares of Marsh & McLennan Companies from $197.00 to $201.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Morgan Stanley decreased their price target on 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. Piper Sandler dropped their price objective on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. Cantor Fitzgerald increased their target price on Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings raised Marsh & McLennan Companies from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $201.94.
Read Our Latest Stock Analysis 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.
Featured Articles
- Five stocks we like better than Marsh & McLennan Companies
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Want to see what other hedge funds are holding MRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report).
Receive News & Ratings for Marsh & McLennan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marsh & McLennan Companies and related companies with MarketBeat.com's FREE daily email newsletter.
