Callan Family Office LLC acquired a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 66,601 shares of the financial services provider’s stock, valued at approximately $11,100,000.
A number of other hedge funds have also recently modified their holdings of MRSH. Expressive Wealth LLC purchased a new stake in shares of Marsh & McLennan Companies in the second quarter worth approximately $340,000. Keating Financial Advisory Services Inc. purchased a new position in Marsh & McLennan Companies during the 2nd quarter valued at $41,000. OneAscent Family Office LLC bought a new position in Marsh & McLennan Companies in the 2nd quarter valued at $405,000. Allworth Financial LP purchased a new stake in Marsh & McLennan Companies in the second quarter worth $1,219,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Marsh & McLennan Companies during the second quarter worth $6,267,000. Institutional investors own 87.99% of the company’s stock.
Marsh & McLennan Companies Trading Up 1.0%
NYSE MRSH opened at $192.17 on Friday. The business has a fifty day moving average price of $179.88. The stock has a market capitalization of $91.71 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 2.73 and a beta of 0.59. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.22. Marsh & McLennan Companies, Inc. has a 12-month low of $156.60 and a 12-month high of $212.65.
Marsh & McLennan Companies Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd were 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 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, July 23rd. Marsh & McLennan Companies’s dividend payout ratio is 48.41%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on MRSH shares. Morgan Stanley upped their price target on shares of Marsh & McLennan Companies from $180.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday. Piper Sandler decreased their price objective on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Mizuho boosted their price objective on shares of Marsh & McLennan Companies from $197.00 to $201.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Cantor Fitzgerald raised their target price on shares of 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, UBS Group lifted their price target on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Marsh & McLennan Companies presently has an average rating of “Hold” and a consensus target price of $203.50.
Check Out Our Latest Report on Marsh & McLennan Companies
Insiders Place Their Bets
In other news, SVP Paul Beswick sold 713 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $198.00, for a total transaction of $141,174.00. Following the sale, the senior vice president owned 16,376 shares in the company, valued at approximately $3,242,448. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a legal 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. Also, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 116,811 shares of the company’s stock, valued at $18,889,506.81. The trade was a 12.48% decrease in their ownership of the stock. 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 have sold a total of 36,469 shares of company stock worth $6,291,345 over the last ninety days. Insiders own 0.38% of the company’s stock.
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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