Livforsakringsbolaget Skandia Omsesidigt bought a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 3,334 shares of the financial services provider’s stock, valued at approximately $555,000.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Marsh & McLennan Companies in the 2nd quarter worth approximately $6,583,806,000. State Street Corp purchased a new stake in Marsh & McLennan Companies in the fourth quarter worth $4,057,682,000. Capital International Investors bought a new position in Marsh & McLennan Companies in the fourth quarter worth $3,482,557,000. Capital World Investors bought a new stake in shares of Marsh & McLennan Companies during the 4th quarter valued at $3,140,284,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Marsh & McLennan Companies in the 4th quarter worth about $2,967,927,000. 87.99% of the stock is owned by institutional investors.
Insider Activity at Marsh & McLennan Companies
In other news, Director Lloyd M. Yates sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $175.65, for a total transaction of $2,107,800.00. Following the completion of the transaction, the director directly owned 12,001 shares of the company’s stock, valued at $2,107,975.65. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul Beswick sold 713 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were 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 of the company’s stock, valued at approximately $3,242,448. This represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 36,469 shares of company stock valued at $6,291,345. Insiders own 0.38% of the company’s stock.
Marsh & McLennan Companies Trading Up 1.5%
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 EPS for the quarter, beating the consensus estimate of $2.89 by $0.07. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.The company had revenue of $7.28 billion for the quarter. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts forecast that Marsh & McLennan Companies, Inc. will post 10.44 EPS for the current fiscal year.
Marsh & McLennan Companies Increases Dividend
The business also recently declared 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 represents a $3.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, July 23rd. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s payout ratio is 48.41%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on MRSH. Weiss Ratings upgraded shares of Marsh & McLennan Companies from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Citigroup downgraded Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Wednesday, July 22nd. Morgan Stanley lifted their price objective on Marsh & McLennan Companies from $180.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. Wells Fargo & Company boosted their target price on Marsh & McLennan Companies from $186.00 to $188.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Finally, Cantor Fitzgerald raised their price target on Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $203.50.
Read Our Latest Report on MRSH
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.
Featured Articles
- Five stocks we like better than Marsh & McLennan Companies
- From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens
- These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash
- Venture Into High-Volatility Corners of the Market With These 3 ETFs
- 3 Retail Stocks to Watch After a Big Consumer Earnings Week
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.
