Marsh & McLennan Companies, Inc. $MRSH Shares Purchased by Saudi Central Bank

Saudi Central Bank grew its position in Marsh & McLennan Companies, Inc. (NYSE:MRSH) by 86.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 33,726 shares of the financial services provider’s stock after purchasing an additional 15,643 shares during the period. Saudi Central Bank’s holdings in Marsh & McLennan Companies were worth $5,621,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Marsh & McLennan Companies in the second quarter valued at $6,583,806,000. State Street Corp acquired a new stake in shares of Marsh & McLennan Companies during the 4th quarter worth about $4,057,682,000. Capital International Investors purchased a new stake in Marsh & McLennan Companies in the 4th quarter valued at about $3,482,557,000. Capital World Investors acquired a new position in Marsh & McLennan Companies in the fourth quarter valued at about $3,140,284,000. Finally, Wellington Management Group LLP purchased a new position in Marsh & McLennan Companies during the fourth quarter worth about $2,967,927,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marsh & McLennan Companies

In related news, SVP Paul Beswick sold 713 shares of Marsh & McLennan Companies 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 directly owned 16,376 shares in the company, valued at $3,242,448. This trade represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Martin South sold 7,100 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $189.99, for a total value of $1,348,929.00. Following the transaction, the insider directly owned 16,632 shares in the company, valued at approximately $3,159,913.68. The trade was a 29.92% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 19,813 shares of company stock valued at $3,597,903. Corporate insiders own 0.38% of the company’s stock.

Marsh & McLennan Companies Price Performance

MRSH stock opened at $185.80 on Monday. Marsh & McLennan Companies, Inc. has a 1 year low of $156.60 and a 1 year high of $207.82. The firm has a market cap of $88.67 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.58 and a beta of 0.58. 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 firm has a 50-day moving average of $185.10.

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

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 dividend of $0.99 per share. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $3.96 dividend on an annualized basis and a yield of 2.1%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 48.41%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MRSH. Cantor Fitzgerald boosted their price target on shares of Marsh & McLennan Companies from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Wells Fargo & Company boosted their target price on 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. Citigroup lowered Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price target for the company. in a research report on Wednesday, July 22nd. Piper Sandler reduced their price target 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, JPMorgan Chase & Co. lifted their price objective on shares of Marsh & McLennan Companies from $206.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, July 13th. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $203.50.

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.