Jennison Associates LLC Acquires New Stake in Marsh & McLennan Companies, Inc. $MRSH

Jennison Associates LLC bought a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 222,594 shares of the financial services provider’s stock, valued at approximately $38,609,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Marsh & McLennan Companies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 46,589,633 shares of the financial services provider’s stock worth $8,643,309,000 after buying an additional 387,100 shares in the last quarter. State Street Corp acquired a new stake in Marsh & McLennan Companies during the fourth quarter worth approximately $4,057,682,000. Capital International Investors purchased a new stake in Marsh & McLennan Companies in the 4th quarter worth 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 acquired a new position in Marsh & McLennan Companies in the 4th quarter valued at $2,967,927,000. 87.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 completion of the sale, the chief executive officer owned 116,811 shares of the company’s stock, valued at approximately $18,889,506.81. This represents a 12.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.38% of the company’s stock.

Marsh & McLennan Companies Trading Down 0.2%

Shares of Marsh & McLennan Companies stock opened at $181.82 on Tuesday. Marsh & McLennan Companies, Inc. has a twelve month low of $156.60 and a twelve month high of $213.80. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $87.84 billion, a P/E ratio of 22.73, a PEG ratio of 2.74 and a beta of 0.61.

Marsh & McLennan Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 23rd will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, July 23rd. This is an increase from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. Marsh & McLennan Companies’s dividend payout ratio (DPR) is presently 45.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Marsh & McLennan Companies from $203.00 to $178.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Weiss Ratings lowered Marsh & McLennan Companies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Bank of America lowered their price target on Marsh & McLennan Companies from $181.00 to $174.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Keefe, Bruyette & Woods increased their price objective on shares of Marsh & McLennan Companies from $200.00 to $203.00 and gave the stock a “market perform” rating in a report on Friday, April 17th. Finally, Piper Sandler decreased 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $200.81.

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.