Northwestern Mutual Wealth Management Co. purchased a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) during the 2nd quarter, Holdings Channel reports. The fund purchased 34,062 shares of the financial services provider’s stock, valued at approximately $5,677,000.
A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. bought a new stake in Marsh & McLennan Companies during the second quarter valued at about $6,583,806,000. State Street Corp purchased a new position in shares of Marsh & McLennan Companies during the 4th quarter valued at about $4,057,682,000. Capital International Investors bought a new position in shares of Marsh & McLennan Companies during the 4th quarter valued at approximately $3,482,557,000. Capital World Investors purchased a new stake in Marsh & McLennan Companies in the 4th quarter worth approximately $3,140,284,000. Finally, Wellington Management Group LLP purchased a new position in Marsh & McLennan Companies during the fourth quarter valued at approximately $2,967,927,000. Institutional investors own 87.99% of the company’s stock.
Insider Buying and Selling
In related news, CEO John Q. Doyle sold 16,656 shares of Marsh & McLennan Companies stock in a transaction dated 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 owned 116,811 shares in the company, valued at approximately $18,889,506.81. This trade represents a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Paul Beswick sold 713 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $198.00, for a total value of $141,174.00. Following the sale, the senior vice president owned 16,376 shares in the company, valued at approximately $3,242,448. This trade represents a 4.17% 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. In the last three months, insiders have sold 36,469 shares of company stock worth $6,291,345. Insiders own 0.38% of the company’s stock.
Analyst Upgrades and Downgrades
Get Our Latest Research Report on MRSH
Marsh & McLennan Companies Stock Performance
NYSE MRSH opened at $192.17 on Monday. The firm’s 50 day moving average price is $179.88. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $212.65. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.22. The company has a market cap of $91.71 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.75 and a beta of 0.59.
Marsh & McLennan Companies (NYSE:MRSH – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.07. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The company had revenue of $7.28 billion for the quarter. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts predict that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd were given a dividend of $0.99 per share. The ex-dividend date was Thursday, July 23rd. This represents a $3.96 annualized dividend and a dividend yield of 2.1%. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio is currently 48.41%.
Marsh & McLennan Companies 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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