Te Ahumairangi Investment Management Ltd Buys New Shares in Marsh & McLennan Companies, Inc. $MRSH

Te Ahumairangi Investment Management Ltd purchased a new position in Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 42,777 shares of the financial services provider’s stock, valued at approximately $7,130,000. Marsh & McLennan Companies comprises approximately 1.2% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 26th largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of MRSH. EP Wealth Advisors LLC grew its stake in shares of Marsh & McLennan Companies by 0.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 8,337 shares of the financial services provider’s stock valued at $1,823,000 after buying an additional 69 shares during the period. MMA Asset Management LLC grew its position in Marsh & McLennan Companies by 1.7% in the fourth quarter. MMA Asset Management LLC now owns 4,083 shares of the financial services provider’s stock valued at $757,000 after acquiring an additional 70 shares in the last quarter. Continuum Advisory LLC lifted its holdings in Marsh & McLennan Companies by 5.3% in the 1st quarter. Continuum Advisory LLC now owns 1,452 shares of the financial services provider’s stock worth $252,000 after buying an additional 73 shares in the last quarter. Clearstead Trust LLC boosted its holdings in Marsh & McLennan Companies by 12.6% in the first quarter. Clearstead Trust LLC now owns 668 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 75 shares during the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC grew its position in shares of Marsh & McLennan Companies by 0.9% during the fourth quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 8,883 shares of the financial services provider’s stock worth $1,648,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Insider Activity

In other Marsh & McLennan Companies news, insider Martin South sold 7,100 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $189.99, for a total value of $1,348,929.00. Following the completion of the sale, the insider directly owned 16,632 shares of the company’s stock, valued at $3,159,913.68. This represents a 29.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Q. Doyle sold 16,656 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 116,811 shares in the company, valued at approximately $18,889,506.81. The trade was a 12.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 36,469 shares of company stock valued at $6,291,345 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Citigroup cut Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price target on Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Mizuho upped 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 note on Wednesday, July 22nd. Piper Sandler dropped their target price on shares of Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Finally, Wells Fargo & Company raised their price objective on shares of Marsh & McLennan Companies from $186.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $203.50.

Marsh & McLennan Companies Price Performance

NYSE MRSH opened at $192.17 on Monday. The stock has a market capitalization of $91.71 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 2.75 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. The stock has a 50 day moving average of $179.88. Marsh & McLennan Companies, Inc. has a 52-week low of $156.60 and a 52-week high of $212.65.

Marsh & McLennan Companies (NYSE:MRSH) last posted its quarterly earnings results 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. The business had revenue of $7.28 billion for the quarter. Marsh & McLennan Companies had a net margin of 14.24% and a return on equity of 32.67%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts predict that Marsh & McLennan Companies, Inc. will post 10.43 EPS for the current year.

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 paid a $0.99 dividend. The ex-dividend date was Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.1%. Marsh & McLennan Companies’s dividend payout ratio is presently 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.