Corient Private Wealth LP Invests $66.47 Million in Marsh & McLennan Companies, Inc. $MRSH

Corient Private Wealth LP bought a new position in shares of Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,842,632 shares of the financial services provider’s stock, valued at approximately $66,475,000. Corient Private Wealth LP owned approximately 2.69% of Marsh & McLennan Companies as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ausdal Financial Partners Inc. purchased a new stake in shares of Marsh & McLennan Companies during the second quarter worth approximately $668,000. Bank of America Corp DE purchased a new position in Marsh & McLennan Companies in the second quarter worth approximately $575,845,000. Wallace Capital Management Inc. acquired a new position in Marsh & McLennan Companies during the 2nd quarter worth approximately $335,000. Caisse de depot et placement du Quebec acquired a new stake in shares of Marsh & McLennan Companies in the 2nd quarter valued at $163,760,000. Finally, Man Group plc acquired a new position in shares of Marsh & McLennan Companies during the second quarter worth $42,312,000. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on MRSH shares. 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 report on Monday, July 13th. Cantor Fitzgerald boosted 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. Mizuho increased their price target 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. Wells Fargo & Company upped their target price on shares of Marsh & McLennan Companies from $186.00 to $188.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Finally, UBS Group lifted their price target on shares of Marsh & McLennan Companies from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. One 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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 PE ratio of 23.19, a price-to-earnings-growth ratio of 2.77 and a beta of 0.59. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $207.82. The company has a 50-day simple moving average of $182.13. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.22.

Marsh & McLennan Companies (NYSE:MRSH) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.96 earnings per share for the quarter, topping 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 company had revenue of $7.28 billion during the quarter. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, research 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. Stockholders of record on Thursday, July 23rd were paid a $0.99 dividend. This is a boost from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, July 23rd. This represents a $3.96 annualized dividend and a dividend yield of 2.1%. Marsh & McLennan Companies’s dividend payout ratio (DPR) is 48.41%.

Insider Activity

In related news, CEO John Q. Doyle sold 16,656 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total value of $2,693,441.76. Following the completion of the sale, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd M. Yates sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $175.65, for a total value of $2,107,800.00. Following the transaction, the director owned 12,001 shares in the company, valued at $2,107,975.65. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 36,469 shares of company stock valued at $6,291,345. 0.38% of the stock is owned by insiders.

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.