Glenview Trust Co Invests $15.25 Million in Marsh & McLennan Companies, Inc. $MRSH

Glenview Trust Co purchased a new stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 91,519 shares of the financial services provider’s stock, valued at approximately $15,253,000.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Marsh & McLennan Companies in the 2nd quarter worth about $6,583,806,000. State Street Corp purchased a new stake in shares of Marsh & McLennan Companies in the fourth quarter worth about $4,057,682,000. Capital International Investors bought a new position in shares of Marsh & McLennan Companies in the fourth quarter valued at approximately $3,482,557,000. Capital World Investors purchased a new position in Marsh & McLennan Companies during the fourth quarter valued at approximately $3,140,284,000. Finally, Wellington Management Group LLP purchased a new stake in Marsh & McLennan Companies in the 4th quarter worth approximately $2,967,927,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Insider Transactions at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, 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 transaction, the chief executive officer directly owned 116,811 shares in the company, valued at $18,889,506.81. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd M. Yates sold 12,000 shares of Marsh & McLennan Companies stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $175.65, for a total transaction of $2,107,800.00. Following the transaction, the director directly owned 12,001 shares in the company, valued at $2,107,975.65. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 36,469 shares of company stock worth $6,291,345 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Marsh & McLennan Companies from $186.00 to $188.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Cantor Fitzgerald upped their target price on Marsh & McLennan Companies from $210.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Citigroup cut Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price target on the stock. in a report on Wednesday, July 22nd. Finally, Morgan Stanley lifted their price target on Marsh & McLennan Companies from $180.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Marsh & McLennan Companies has a consensus rating of “Hold” and an average price target of $203.50.

Marsh & McLennan Companies Stock Performance

Shares of NYSE:MRSH opened at $189.70 on Friday. The stock has a market capitalization of $90.53 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.77 and a beta of 0.59. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.14 and a quick ratio of 1.14. Marsh & McLennan Companies, Inc. has a 52-week low of $156.60 and a 52-week high of $207.82. The stock has a fifty day moving average of $182.13.

Marsh & McLennan Companies (NYSE:MRSH) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $7.28 billion for the quarter. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, sell-side analysts forecast that Marsh & McLennan Companies, Inc. will post 10.44 EPS for the current fiscal year.

Marsh & McLennan Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, July 23rd were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, July 23rd. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. 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.